Intel REDUCES Power Consumption and 4 Heavily Traded Shares Rounding Out the Week
Intel Corporation (NASDAQ:INTC) has teamed with South Korean telecom company KT Corporation for the development of energy-efficient technology for the reduction of power consumption at data centers, according to news reports. The new system, if it is applied to every KT-owned center, would save about 8.6 billion won ($7.6 million) annually, according to Korea Times. Implementing the new system in every data center in South Korea could save as much as 44.8 billion won ($39.6 million).
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Autodesk, Inc. (NASDAQ:ADSK) shares dropped more in over three years following the software maker’s lowering of its annual sales forecast, and it stated that it intends to reduce jobs as it restructures to focus on cloud and mobile computing. The company is to post fiscal 2013 revenue growth of 4 percent to 6 percent, which is lower than a prior projection of at least 10 percent, as the slow European economic recovery hampers sales, Autodesk said in a statement yesterday. Autodesk has falled 19 percent to $28.98 at 9:35 a.m. in New York, taking back its gain of 18 percent this year through yesterday.
Cisco Systems, Inc. (NASDAQ:CSCO): Recently, who is the leading provider of IP-based networking and other products, reported its Q4 results and announced its decision to increase the quarterly dividend by 6 cents to 14 cents per share. The raised dividend is to be paid from fiscal year 2013.
Hewlett-Packard Company (NYSE:HPQ) reported a revenue of $29.7 million for its most recent quarter, a decrease of about 5 percent sequentially. The quarter’s loss totaled about $8.9 billion. A large chunk of the loss was because of an impairment charge concerning the company’s acquisition of EDS (technology consulting service Electronic Data Systems) for $13 billion during 2008. In the services segment, which was adjusted by HP by about $8 billion, along with another $1 billion related to the Compaq brand. HP also spent nearly $1.8 billion to lay off and send nearly 4,000 employees into early retirement (a similar move took place in 2008, while the company chose to buy many former employees back out of retirement, which have now been sent into retirement again). The company has warned that it might not be finished with its write downs and there could be additional write downs for the current quarter.
Facebook Inc (NASDAQ:FB): U.S. mutual funds run by Morgan Stanley (NYSE:MS), which is the head underwriter in Facebook’s $16 billion IPO, have disproportionately high investments in the social-media company, which leaves fund shareholders exposed to the stock’s decline, according to the Wall Street Journal.
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