Technology News

High-stakes games: Tencent rolls the dice on mobile

By Paul Carsten and Pete Sweeney BEIJING/SHANGHAI | Tue Aug 13, 2013 4:58pm EDT BEIJING/SHANGHAI (Reuters) - Tencent Holdings, China's largest Internet company by revenue, is betting that one-upmanship between friends playing addictive mobile games will boost revenue from WeChat, a social messaging app used...

13 Aug 8:58 PM 0 Read More...

Icahn builds large Apple stake, wants larger buybacks

By Edwin Chan SAN FRANCISCO | Tue Aug 13, 2013 4:39pm EDT SAN FRANCISCO (Reuters) - Activist investor Carl Icahn said on Tuesday he has built a "large position" in Apple Inc and had a "nice conversation" with CEO Tim Cook about a larger stock buyback, sending the company's shares to a near seven-month high. The billionaire with a reputation for pushing aggressive co...

13 Aug 8:39 PM 0 Read More...

Brocade Communications beats estimates as costs fall

Tue Aug 13, 2013 4:34pm EDT (Reuters) - Network equipment maker Brocade Communications Systems Inc (BRCD.O) reported third-quarter results above analysts' estimates, helped by lower costs and strong demand for its storage products. Brocade Communications shares were up 18 percent in after-market trading. They closed at $6.90 on the Nasdaq on Tuesday.Net income almost tripled to $118...

13 Aug 8:34 PM 0 Read More...

JDS Uniphase revenue falls on weak demand for optical components

Tue Aug 13, 2013 4:23pm EDT (Reuters) - Network equipment testing company JDS Uniphase Corp reported a lower quarterly revenue on weak demand for optical components from telecom customers. The company reported a profit of $92.5 million, or 38 cents per share, in the fourth quarter, compared with a loss of $22.2 million, or 10 cents per share, a year earlier.Excluding one-time items,...

13 Aug 8:23 PM 0 Read More...

Icahn has large Apple stake; calls company extremely undervalued

SAN FRANCISCO | Tue Aug 13, 2013 2:52pm EDT SAN FRANCISCO (Reuters) - Activist investor Carl Icahn said on Tuesday he now has a "large stake" in Apple Inc, which he believes to be extremely undervalued. The billionaire, with a reputation for pushing aggressive corporate change, said on Twitter he discussed a larger buyback program with Chief Executive Officer Tim Cook."Had ...

13 Aug 6:39 PM 0 Read More...

Sina shares climb after strong third-quarter forecast

SAN FRANCISCO | Tue Aug 13, 2013 1:21pm EDT SAN FRANCISCO (Reuters) - Shares of Sina Corp climbed nearly 4 percent on Tuesday after the Chinese Internet company forecast better-than-expected quarterly revenue as its mobile business expands. Sina, one of China's biggest Internet companies, on Monday reported a 20 percent jump in net revenue in the second quarter to $157.5 mi...

13 Aug 5:21 PM 0 Read More...

Larry vs. Larry: Oracle's Ellison says Google's Page acted 'evil'

By Jim Finkle and Jennifer Saba Tue Aug 13, 2013 12:44pm EDT (Reuters) - Google's informal motto is "don't be evil," but outspoken Silicon Valley billionaire Larry Ellison has accused the Internet company's CEO, Larry Page, of acting "absolutely evil." Ellison, the CEO and co-founder of software giant Oracle Corp, has lon...

13 Aug 4:44 PM 0 Read More...

Orbitz says major investor sells part of stake

Tue Aug 13, 2013 11:39am EDT (Reuters) - Orbitz Worldwide Inc said PAR Capital Management, one of its largest shareholders, sold 8.1 million of the 24.6 million shares it owned in the online travel agency, and the stock dropped 11.8 percent on Tuesday. In a statement from Orbitz, PAR President Paul Reeder said the Boston investment management firm sold the shares in an effort to "be...

13 Aug 3:39 PM 0 Read More...

Larry vs Larry: Oracle's Ellison says Google's Page acted 'evil'

By Jennifer Saba Tue Aug 13, 2013 10:24am EDT (Reuters) - Larry Ellison, Oracle Corp's outspoken chief executive officer, said Google Inc CEO Larry Page acted "absolutely evil" and accused the Internet company of using Oracle's products without permission. "We just think they took our stuff, and that was wrong," Ellison said in an interview with Charlie Rose on "CBS This Mor...

13 Aug 2:24 PM 0 Read More...

Orbitz says largest investor sells part of stake

Tue Aug 13, 2013 9:44am EDT (Reuters) - Orbitz Worldwide Inc said PAR Capital Management, its largest shareholder, sold 8.1 million of the 24.6 million shares it owned in the online travel agency, and the stock dropped 11.8 percent on Tuesday. In a statement from Orbitz, PAR President Paul Reeder said the Boston investment management firm sold the shares in an effort to "better dive...

13 Aug 1:44 PM 0 Read More...