Author Archives: smoritz
  • Dell, Best Buy outlook darkens

    By Scott Moritz

    If Dell's (DELL) view is right, the tech spending hiatus that started in July isn't ending anytime soon.

    Less than a week after Dell warned that a U.S. slowdown in information technology spending was spreading to Europe and Asia, the No.2 computer maker now says the slump is getting worse.

    "We saw some weakness in July, and August is always slow," Dell CFO Brian Gladden said at a Bank of MORE

    - Sep 16, 2008 11:30 AM ET
  • HP to cut 24,600 jobs

    By Scott Moritz

    Hewlett-Packard (HPQ) says it plans to cut 7.5% or 24,600 employees over the next three years as part of its integration of IT outsourcer EDS.

    The company, which acquired EDS last month in a $14 billion deal, says it expects about half of the jobs to come from U.S. operations.

    HP says it now expects to take a $1.7 billion restructuring charge in the fiscal fourth quarter.

    The move comes about MORE

    - Sep 15, 2008 5:05 PM ET
    Posted in:
  • Why Google may walk away from Yahoo deal

    By Scott Moritz

    The planned advertising partnership between Google (GOOG) and Yahoo (YHOO), which was devised during Microsoft's (MSFT) unsolicited bid for Yahoo, is headed for a federal antitrust challenge. And that could mean, according to one analyst, that Google could wind up walking away from the deal.

    Two days after the Association of National Advertisers sent a letter to the Justice Department opposing the Google-Yahoo ad pact, antitrust regulators hired high-powered MORE

    - Sep 9, 2008 12:14 PM ET
  • Dell buys $100 million of Dell

    By Scott Moritz

    At least Michael Dell sees value in Dell (DELL). The company founder and CEO spent $100 million late last week to acquire 4.7 million shares, according to a Federal filing Monday.

    The stock rose 3% in after-hours trading Monday on news of the big insider purchase, as investors saw the move as a bold statement of confidence in the PC maker's prospects amid a widespread tech slowdown.

    Shares of Dell MORE

    - Sep 8, 2008 4:49 PM ET
    Posted in: , , ,
  • Dell looks to sell factories worldwide

    By Scott Moritz

    Dell (DELL) is getting more serious about trimming costs and is exploring plans to sell its PC manufacturing plants, according to a news report Friday.

    Once the leader in the low-inventory, built-to-order model for producing PCs, Dell is now relying more on contract PC makers. As part of that shift, Dell is trying to sell some or all of its manufacturing facilities, according to a report in The Wall Street Journal.

    The MORE

    - Sep 5, 2008 9:06 AM ET
    Posted in:
  • Ciena slashes outlook on spending downturn

    By Scott Moritz

    The spending slowdown hitting the technology industry has slammed Ciena (CIEN), the telecommunications equipment maker. In an earnings report Thursday, the company cited a drop in customer orders in slashing its fourth-quarter sales forecast 24% below expectations.

    Ciena's third-quarter sales and earnings were solid despite signs of sluggish demand from corporations. The Linthicum, Md.-based company posted adjusted earnings of 37 cents a share, down from 41 cents in the year-ago period, but in line with analysts' estimates. Sales for the MORE

    - Sep 4, 2008 9:16 AM ET
  • Alcatel-Lucent picks alumnus as new CEO

    By Scott Moritz

    Alcatel-Lucent (ALU), the struggling telecom equipment maker, on Tuesday named an old hand as its new chief executive. Former British Telecom (BT) chief Ben Verwaayen, who once ran Lucent's international sales operations, has been hired to replace CEO Pat Russo.

    Alcatel-Lucent also announced that Philippe Camus, the former co-chief of Airbus parent EADS, will take over as chairman, replacing Serge Tchuruk who, along with Russo, announced his resignation earlier this summer.  The news comes days after news MORE

    - Sep 2, 2008 11:35 AM ET
  • Cisco buys into corporate e-mail

    Pushing further into Microsoft's (MSFT) territory, Cisco (CSCO) announced Wednesday that it has signed a $215 million deal for business e-mail shop PostPath.

    The move bolsters Cisco's strategy to expand into the office software market by adding e-mail and calendar services to its existing roster of so-called enterprise networking features. PostPath, based in Mountain View, Calif., develops Linux-based software that gives corporate customers an alternative to Microsoft's Exchange system. PostPath says its e-mail servers are compatible MORE

    - Aug 27, 2008 9:59 AM ET
  • Alcatel-Lucent nears CEO pick

    By Scott Moritz

    A year after jumping ship, former Alcatel-Lucent president Mike Quigley may be returning to take the top job at the telecom gearmaker.

    Quigley, who was an early architect of the Alcatel-Lucent (ALU) merger and later ousted under CEO Pat Russo's term, has been picked by the company's nomination committee to replace Russo, according to a Reuters report. The company declined to comment.

    In July, after Alcatel-Lucent posted its sixth quarterly loss in MORE

    - Aug 26, 2008 1:22 PM ET
    Posted in: ,
  • Cablevision considers a dividend and spin-off

    By Scott Moritz

    Cablevision's Dolan family is weighing its options again. But while the chilly credit market puts some boundaries on the scope of the Long Island cable company's options, some of the more likely moves include a dividend and a spinoff of its Rainbow Media unit, say analysts.

    "We arrive at the view that given the current state of the credit markets and $1.7 billion in maturities [Cablevision faces] next year, the MORE

    - Aug 5, 2008 2:47 PM ET
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