Microsoft and 3 Dow 30 Tech Stocks with Big Stories This Week
Here’s your Cheat Sheet to the week in select Dow 30 tech stock news:
Hewlett-Packard Company (NYSE:HPQ): Current price $16.99
Just days before the firm went forward with its $11 billion software deal for the British software maker Autonomy Corp., a purchase almost immediately regretted, it missed an opportunity to get out of it, says the Wall Street Journal. During a talk with an H-P delegation, outside auditors for Autonomy mentioned that an executive there had raised a claim of improper accounting at the firm, according to sources, who said the auditors added that the allegation had been found to be groundless. However, the H-P executives never passed this tidbit on to their board or chief executive.
Hewlett-Packard reported that Spain’s Madrilena Red de Gas has reached a four-year agreement for HP to manage its environment running SAP solutions (NYSE:SAP), thus enabling it to enhance customer service while concurrently improving efficiency. Through the terms, HP will help Madrilena Red de Gas more closely line its SAP solution-based environment up with business objectives, permitting it to support priorities, customer service improvement goals and growth as it reduces complexity and costs.
Intel Corporation (NASDAQ:INTC): Current price $20.96
Intel is deferring its plans to construct a new factory that would result in the creation more than 4,000 jobs in Leixlip, says the Irish Independent. The firm has been given the greenlight by an Bord Pleanala for a 40-hectare expansion, but its corporate office in Silicon Valley has not yet okayed the development.
Cisco Systems (NASDAQ:CSCO): Current price $21.15
Cisco will purchase the privately-held Intucell which is headquartered in Ra’anana, Israel. The firm supplies advanced self-optimizing network software that allows mobile carriers to plan, configure, manage, optimize and repair cellular networks automatically and according to real-time changing network requirements. Through the acquisition terms, Intucell employees will be joined into Cisco’s Service Provider Mobility Group, reporting to Vice President and General Manager Shailesh Shukla, Software and Applications Group. Further, Cisco will pay about $475 million in cash and retention-based incentives so as to take over the entire business and operations of Intucell. The transaction should close in the third quarter.
Cisco purchases an approximate 1-percent interest in the software developer Parallels, says Reuters. The latter says that it expects dividend payouts, an initial public offering, and M&A.
Microsoft Corporation (NASDAQ:MSFT): Current price $27.88
The former senior executive Joachim Kempin, in his new book describing his time at Microsoft, says that the current Chief Executive Steve Ballmer is not the right leader for the firm, but holds his grip on it by systematically forcing out any rising manager who challenges his authority, according to a Reuters report.
Nokia Corporation (NYSE:NOK) said again that it is collaborating with Microsoft so as to take Windows Phone to devices with “lower and lower price points,” and denied rumors to the effect that it is thinking about using Google’s (NASDAQ:GOOG) Android OS, said TechCrunch, citing comments made by the Nokia Chief Executive Stephen Elop on the company’s fourth quarter earnings conference call.
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