Nokia To Buy Motally

20. August 2010 · 1 comment · Categories: Business · Tags: , , ,

Nokia announced it was acquiring Motally Inc.

Nokia Corporation (NYSE:NOK) announced it has signed an agreement to acquire Motally Inc., which is a privately-held U.S.-based company.

Motally’s makes a mobile analytics service offers that offers in-application tracking and reporting, and is designed to enable developers and publishers to optimize the development of their mobile applications through increased understanding of how users engage.

The service offering can be adapted for Qt, Symbian, Meego and Java developer. Nokia plans to continue serving Motally’s existing customer base as part of the deal. Motally currently employs a team of eight people.

This particular transaction is subject to customary closing conditions and is expected to close during Q3 of 2010.

Dell Looking For 14%-19% Growth In Fiscal Year 2011

19. August 2010 · Write a comment · Categories: Business · Tags: , ,

Dell Inc. (NASDAQ:DELL) said today they still expect FY11 revenue growth to come in between 14%-19%.

Dell said they believe the corporate client refresh is well underway and that demand will continue from now until the next several quarters.

For Q3, the company said they were expecting seasonal improvements from federal government sales and commercial businesses, which would result in a pick-up estimated to be in the low single digits.

Dell went on to reiterate its outlook provided in June, 2010. They said they anticipate revenue growth for the year to be between 14%-19% and that non-GAAP operating income growth would come in between 18%-23%.

Intel Made ‘A Nice Pick Up’ Says Oppenheimer

19. August 2010 · Write a comment · Categories: Business · Tags: , , , , , ,

The acquisition by Intel corporation (NASDAQ:INTC) is “a nice pick-up,” said Oppenheimer.

Oppenheimer said they believe that Intel can easily afford the McAfee, Inc (NYSE:MFE) deal, and the firm thinks the company will seek to integrate McAfee’s products into its Atom chips for mobile applications.

Oppenheimer said they do not expect the deal to significantly affect Intel’s results in the near-term. Oppenheimer said they maintained their ‘Perform’ rating on Intel stock.

Shares of Intel are down over 3% to $18.96 each.

McAfee, Inc. is a security technology company that is is engaged in developing, marketing, distributing and supporting computer security solutions for enterprises, governments, small and medium-sized businesses and consumers.

Citigroup Stock Down To $3.80

19. August 2010 · Write a comment · Categories: Business · Tags: , , ,

Shares of Citigroup, Inc. (NYSE:C) continue to languish on concerns about the sluggish economy in the United States.

This has been a tough summer for C investors due to concerns about joblessness, the Goldman Sachs scandal, and the European debt crisis, which all led to the conclusion that the financial services sector has seen better days.

Citigroup flirted with $5 in mid-April, but hasn’t been anywhere near that level since. With the Treasury Department continuing to sell shares of C that it inherited as part of its TARP agreement with the company, the momentum seems to be pushing the share price down slightly but consistently over time.

Financial regulation seemed to be the last straw that caused a drag on Citigroup stock. Of course Citi’s earnings are threatened by a loss of revenue from a loss of fee revenue, so these worries are real.

Right now Citigroup stock has begun to languish in the so-called dog days of summer. Maybe the fall will trigger a comeback.

Whole Foods Bigwig Sold $1.8 Million In Stock

19. August 2010 · Write a comment · Categories: Business · Tags:

Whole Foods Market Inc. (NASDAQ:WFMI) president and COO sold $1.8 million in stock, according to Barrons.com.

A.C. Gallo, who is Whole Foods’ president and COO, sold 48,984 shares for $1.8 million, or about $36.92 each. Gallo acquired the shares in May, 2010 as part of a grant of restricted stock, according to filings. The restriction on the stock expired on Aug. 14, 2010. The shares sold by Gallo 86% of his direct holdings in the company.

Another insider, however, made an opposite bet earlier this month. On Aug. 5, director William Tindell bought 8,000 shares for $291,000, or about $36.43 each.

“Gallo’s sale definitely raises concerns,” said Lon Juricic, president of StreetInsider.com. “It was the largest sale by a C-level executive in quite some time,” says Juricic. Whole Foods stock is up 34% this year.”

Insider selling of shares is often consider a negative because if a top executive is selling, it causes investors to wonder ‘what he knows’ that they don’t. In many cases, it is an innocent act related to the financial needs of the executive.

News Corp Donation Irks Democrat

19. August 2010 · Write a comment · Categories: Business · Tags: , , ,

News Corp (NYSE:NWS) donation draws fire from Democrat, the Washington Post reported.

The head of the Democratic Governors Association is criticizing News Corp for their $1 million donation to the Republican Governors Association, said the Washington Post.

The executive director of the Democrats’ governor association said that News Corp’s Fox News should mention the donation every time it covers governors or gubernatorial races between now and Election Day.

Other media companies have regularly made political contributions, but they have been significantly less than $1M, according to the newspaper.

Google And Motorola May Work Together On Android 3.0 Tablet

19. August 2010 · Write a comment · Categories: Business · Tags: , , , , , ,

Google, Inc. (NASDAQ:GOOG) and Motorola Inc. (NYSE:MOT) may cooperate on a new Android 3.0 tablet, DigiTimes reported.

According to DigiTimes Research, Google and Motorola may collaborate on an Android 3.0 tablet PC.

A cooperation agreement between the two companies may be similar to the G1 smartphone agreement. Under that agreement the firms and their telecom partners will have the rights to label their names on the device, analysts who were familiar with the deal said.

Motorola has been undergoing a surge in increased sales due in large part to its Droid phones.

Barclays In $298 Million Settlement With U.S.

18. August 2010 · Write a comment · Categories: Business · Tags: , , , ,

Barclays PLC (NYSE:PCS) today confirmed it has reached a $298 million settlement with the U.S. government.

Barclays PLC (LON:BARC) said it has reached settlements with the United States Department of Justice, the Manhattan District Attorney’s Office, and the U.S. Department Of Treasury’s Office of Foreign Assets Control in relation to the investigation by those agencies into compliance with U.S. sanctions and U.S. dollar payment practices.

Further, an Order to Cease and Desist has been issued upon consent by the Federal Reserve Bank of New York and the New York State Banking Department.

Barclays said they have agreed to pay a total penalty of $298 million. The company has also entered into Deferred Prosecution Agreements that cover a period of 24 months.

Novartis Seeks To Invest $670 Million In Israeli Startup

18. August 2010 · Write a comment · Categories: Business · Tags: , , ,

Novartis AG (NYSE:NVS) is looking to invest up to $670 million in an Israeli startup, Haaretz reported today.

Novartis will reportedly look to invest up to $670 million in Quark Pharmaceuticals, which is an Israeli startup, Haaretz said.

The company will start first with a $10 million investment in Quark, which develops RNAi-based drugs and has a partnership with Pfizer Inc. (PFE), and will invest more depending on whether Quark meets certain benchmarks, the report stated.

A major investor in Quark is Larry Ellison, who is the founder of Oracle Corporation (NASDAQ:ORCL).

General Electric News: Hulu IPO And New Online Bank

18. August 2010 · Write a comment · Categories: Business · Tags: , ,

General Electric Company (NYSE:GE) may set up a new online bank in the U.K., the Daily Mail reported yesterday.

General Electric is reportedly considering setting up the U.K.’s first new online bank since the beginning of the credit crisis, the Daily Mail said.

In an effort to diversify its funding base with customer deposits, GE Capital recently set up an internet bank in Germany and is understood to be looking at opportunities in “a number of” other European countries, including the United Kingdom.

In other news related to General Electric, word comes that Hulu might be considering an IPO, the New York Times said.

Online video website Hulu is looking to launch an IPO. The deal could value the company at more than $2 billion, said New York Times, which cited people familiar with the matter.

Hulu, which is a joint venture of News Corp (NYSE:NWS)., Disney (NYSE:DIS), GE’s NBC, and Providence Equity, has spoken with investment banks about an IPO.

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