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

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

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

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

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

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

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

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

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

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