Author Archives: smoritz
  • Sirius XM unite as sales still tumble

    By Scott Moritz

    Newly merged satellite radio shop Sirius XM says the combination will help trim costs and lead to a positive swing in cash flow in 2009 excluding satellite expenses.

    The deal closes nearly a year and a half after it was announced and in that time the once hot-growing new medium has been sideswiped by a rapidly cooling economy and sluggish car sales. But new chief Mel Karmazin remains optimistic MORE

    - Jul 29, 2008 9:50 AM ET
  • Verizon's results mixed amid tough times

    By Scott Moritz

    Verizon's (VZ) strong wireless gains help offset weaker-than-expected video growth and an alarming drop in phone lines.

    The New York phone giant posted adjusted second-quarter earnings of $1.9 billion or 67 cents a share, up from $1.7 billion or 58 cents a year ago. Analysts were looking for pro forma profit of 65 cents, according to a First Call tally.

    Sales for the quarter were $24.1 billion up from $23 billion MORE

    - Jul 28, 2008 9:09 AM ET
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  • Juniper offers optimistic forecast

    By Scott Moritz

    Juniper Networks (JNPR) beat second quarter expectations and says it's more optimistic about the rest of the year.

    The Sunnyvale, Calif.-based Internet gearmaker on Thursday posted earnings of $156.6 million or 28 cents a share in adjusted profit. That is up from the 20 cents in earnings recorded in the year-ago period. Analysts were looking for 27 cents on the bottom line.

    The positive report comes as Juniper announced former MORE

    - Jul 24, 2008 5:47 PM ET
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  • XM and Sirius settle $19 million radio violation

    By Scott Moritz

    Clearing the way to merger approval, XM and Sirius agreed to pay a $19 million fine for violating radio transmission rules.

    The move is aimed to end a 2006 inquiry by the Federal Communications Commission into radios that broadcast some signals in adjacent FM radio waves. The FCC stepped in when satellite radio transmissions interfered with conventional radio channels.

    The two companies agreed to pay the fine - XM will pay $17 million and MORE

    - Jul 24, 2008 11:12 AM ET
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  • XM and Sirius merger approval nears

    By Scott Moritz

    In what would be a 3-2 vote split along political party lines, the Federal Communications Commission has finally gotten close to approving the merger between Sirius (SIRI) and rival XM (XMSR).

    The swing vote on the deal is Commissioner Deborah Tate, a Republican appointee. Both Reuters and The Wall Street Journal say she is close to filing her vote in favor of the deal.

    The two Democrats on the five member commission MORE

    - Jul 23, 2008 3:54 PM ET
  • A chill hits Texas Instruments

    By Scott Moritz

    Texas Instruments (TXN) came up light in its second quarter and guided down for the third quarter.

    The Dallas-based semiconductor shop reported adjusted earnings of 44 cents a share, compared to 42 cents a year ago, but the bottom line missed analysts'expectations for 46 cents a share in profit for the second quarter.

    Sales were $3.35 billion in the quarter, down from $3.42 billion in a year ago and under the MORE

    - Jul 21, 2008 5:19 PM ET
  • Nokia offers optimistic forecast

    By Scott Moritz

    Delivering its second-quarter earnings Thursday, Nokia (NOK) offered a glimmer of optimism in an otherwise gloomy outlook for the tech market by raising its growth forecast ever so slightly.

    Fueled by roaring sales in the rapidly developing so-called BRIC regions - Brazil, Russia, India and China - Nokia adjusted its worldwide mobile phone sales target to 10% or more growth this year from a more squishy "approximately 10%" level.

    Nokia MORE

    - Jul 17, 2008 1:02 PM ET
  • Cisco targeted in spending cut forecast

    By Scott Moritz

    The tech sector braces for more spending cuts as a new forecast calls for a pull back on orders for communications equipment.

    In a downgrade of Cisco (CSCO) Wednesday to neutral from buy, Credit Suisse analyst Paul Silverstein says phone companies like AT&T (T) are amending their big-spending ways and trimming their 2008 budgets.

    "We believe that one or more major carriers will reduce their planned capital expenditures for the balance MORE

    - Jul 16, 2008 1:13 PM ET
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  • Motorola takes last place among the big five phonemakers

    By Scott Moritz

    Motorola, the flailing No. 3 mobile phone maker, is dropping like a lead handset in industry rankings.

    Skipping the No.4 slot, Motorola (MOT) is set to land at the back of the pack at No. 5, according to second quarter shipment numbers. Motorola shipped between an estimated 22 million and 23 million phones in the second quarter, say industry sources cited in a DigiTimes story Thursday. Those numbers compare with MORE

    - Jul 10, 2008 11:42 AM ET
  • Clouds darken at VMware

    By Scott Moritz

    Shares of VMware, the business software developer whose initial public offering last year set records, fell sharply Tuesday after the company cut its sales forecast and replaced its CEO.

    Palo Alto, Calif.-based VMware (VMW) said Paul Maritz will take over the top job effective immediately from Diane Greene, who also co-founded the company. VMware, which was spun out of data storage giant EMC (EMC) last August, also said 2008 sales would be "modestly MORE

    - Jul 8, 2008 12:10 PM ET
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