Welcome Guest | Sign In
Former Windows Boss Sinofsky Resurfaces in VC World
August 24, 2013
Former Microsoft executive Steven Sinofsky, who shocked the high-tech industry when he abruptly parted ways with the company shortly after Windows 8 was launched, has joined venture capital firm Andreessen Horowitz as a board partner. Sinofsky, a 23-year veteran at Redmond, led the creation of Windows 7 and 8 and six versions of Microsoft Office.
Microsoft Stock Surges on News of Ballmer's Retirement
August 23, 2013
Microsoft CEO Steve Ballmer announced on Friday that he will step down from his post some time within the next 12 months, depending on when a successor is chosen. Stocks in the company surged 7 percent in early trading following the news. "This is a time of important transformation for Microsoft," Ballmer said in an internal email that was posted on the Microsoft news center on Friday.
HP Rearranges Chairs in Hopes of Propelling Turnaround
August 23, 2013
Hewlett-Packard announced some changes to its executive lineup on Wednesday -- the same day it posted a quarterly earnings report that fell short of analyst expectations. Revenue for HP's third fiscal quarter was $27.2 billion, the company reported, down 8 percent from the $29.7 billion it posted a year earlier. HP earned about 86 cents per share on non-GAAP earnings.
All Eyes on Mayer as Yahoo Hits Traffic Milestone
August 22, 2013
Yahoo topped Google as the most-visited website in the United States in July, Web analytics firm comScore reported on Wednesday. Specifically, Yahoo received 196.6 million unique visitors during the month, compared with 192.3 million for Google. This is the first time Yahoo has found itself in the top spot for U.S. Web traffic since May 2011. Moreover, this report does not include data from Tumblr.
Icahn vs. Apple: When Did Extortion Become Legal?
August 19, 2013
What Carl Icahn has been doing with Dell -- and now with Apple -- is kind of like a protection racket. These were popular in the 1920s -- you paid the crime syndicate a fee if you wanted to say in business. I'm wondering if Icahn has found a legal way to extort money from companies in trouble. Icahn not only doesn't provide value for the "help" he gives -- he actually drains the firm's resources.
Dismal Quarter Sheds No Light on Dell's Murky Future
August 16, 2013
Dell posted its Q2 earnings report Thursday, reporting a 72 percent drop in net income. The report comes in the throes of a long-running battle for Dell's future. Founder and CEO Michael Dell is leading an effort to take the company private through a $25 billion deal, but activist shareholder Carl Icahn has come out strongly against it, suggesting an alternate plan.
Icahn Salivates Over Apple's Cash Trove
August 16, 2013
Apple shareholders rejoiced when noted corporate raider Carl Icahn tweeted that he'd taken a large position in the company and said it was undervalued. Its shares closed at $497.91 on Thursday, down 59 cents from Wednesday's close. However, that was up 96 cents from Thursday's opening price. Trading was volatile on Thursday, with prices climbing above $500 at least once.
BlackBerry Announces It's Ripe for the Picking
August 12, 2013
BlackBerry has formed a special committee to explore strategic alternatives to enhance its value and increase scale in order to accelerate BlackBerry 10 deployment. Among these options are joint ventures, strategic partnerships and even the sale of BlackBerry to another company. "We continue to see compelling long-term opportunities for BlackBerry 10," said CEO Thorsten Heins.
New Groupon Chief Gets Thumbs-Up From Wall Street
August 08, 2013
Groupon stock climbed more than 27 percent Thursday following the release of a quarterly earnings report that beat expectations, and the announcement that cofounder Eric Lefkofsky was officially named CEO. Shares bounced more than 20 percent in after-hours trading following Wednesday's news, cooling slightly Thursday afternoon to close the day at $10.61.
Compromise Puts Victory Within Michael Dell's Reach
August 02, 2013
Just two days after a key part of Michael Dell's last offer was roundly rejected, the attempted buyout of his company on Friday took an unexpected turn. Specifically, Dell secured a significant voting concession from the special committee set up by the board of directors in exchange for increasing the purchase price from $13.65 to $13.75 per share.
UK Archbishop Kicks Over Lender's Table, Starts Own Biz
July 31, 2013
Not for the first time, Justin Welby, the head of the Church of England and the archbishop of Canterbury, took a jab at UK-based online lender Wonga, claiming he told Wonga's CEO, "we're trying to compete you out of existence." The Church of England is in the process of forming its own quasi-lending agency -- the "Anglican Mutual Credit Union" -- for clergy and employees.
It's Do or Die for Dell as Committee Rejects Bid
July 31, 2013
Following the revised buyout offer from Michael Dell and investment firm Silver Lake last week, a special committee of Dell's board of directors announced on Wednesday that it has rejected a key part of it. Specifically, the committee refused to accept the part of the new offer by which only shares that are actually voted would be counted in the final decision.
Zynga Beats a Path Out of VegasVille
July 26, 2013
After placing its bets on real-money online gambling late last year, Zynga on Thursday announced that it is abandoning that initiative. The beleaguered company now believes that its best plan is to focus on free-to-play social games, it announced in its second quarter 2013 financial report. It will continue to evaluate the real-money gaming products it's testing in the UK.
Dell Doubles Down on a Dime
July 24, 2013
Michael Dell and investment firm Silver Lake have increased their takeover bid for Dell by 10 cents to $13.75 a share, a special committee of Dell's board of directors announced on Wednesday. As a result, the already-postponed special meeting of stockholders intended for the official vote on the buyout option was rescheduled for Aug. 2 to give the committee time to evaluate the revised offer.
Netflix Hits a Triple - Investors Whine for Home Run
July 23, 2013
Netfllix added 630,000 U.S. streaming customers and achieved profit of $29 million, or 49 cents a share, in the second quarter of 2013, it reported on Monday.Those profits represent a dramatic increase from the same period a year ago. The company's revenue, meanwhile, rose 20 percent year-on-year to $1.07 billion. Netflix's stock price has climbed by close to 200 percent this year.
Microsoft Slips on Surface
July 19, 2013
Microsoft on Thursday reported that its fourth-quarter earnings and sales missed expectations as a result of a PC market slowdown and a write-down of Surface RT inventory. Fourth-quarter net earnings were $4.97 billion, or 59 cents per share, Microsoft reported, on revenue of $19.9 billion. The $900 million Surface write-down amounted to 7 cents per share.
Dell, Icahn Slug It Out on Thin Ice
July 18, 2013
After months of mounting anticipation, Dell on Thursday delayed a critical vote that will decide its future. Specifically, the scheduled special meeting of stockholders -- originally intended to vote on Michael Dell's proposed buyout of the company for US$24.4 billion -- was convened and adjourned to provide additional time to solicit proxies from Dell stockholders, the company announced.
Microsoft's New Strategy Skims the Surface
July 16, 2013
Microsoft has slashed the price of its Surface RT by some 30 percent, or $150, putting the price of the tablet now at approximately $350, depending on the version. The price cut follows hard on the heels of news that the company will undergo a reorganization, in part to bolster its still-flagging efforts in mobile and tablet computing.
Microsoft Attempts Extreme Makeover
July 11, 2013
Microsoft announced a sweeping reorganization on Thursday, possibly lurching from controlled chaos to total chaos. The company will now focus on a single strategy, emphasize engineering, and increase collaboration among departments, with some sort of political commisar -- the evangelism and business development team -- driving ecosystem partners. Microsoft will now be organized by functions.
B&N CEO Gets the Hook on Losses From Nook
July 09, 2013
Barnes & Noble's board of directors on Monday announced changes in the company's executive ranks that extend all the way to the top echelon. First and foremost, William Lynch has resigned as CEO and director effective immediately. In addition, former CFO Michael Huseby has been appointed CEO of Nook Media and president of Barnes & Noble.

See More Articles in Boardroom Section >>
Facebook Twitter LinkedIn Google+ RSS