Technology News

Einhorn case against Apple rests on unusual legal tactic

By Nate Raymond NEW YORK | Fri Feb 8, 2013 9:42pm EST NEW YORK (Reuters) - Hedge fund star David Einhorn wants to force Apple Inc to share some of its huge cash reserves with investors, but his lawsuit rests on a U.S. securities rule that has little legal precedent. Einhorn's Greenlight Capital sued the iPad and iPhone maker in U.S. District Court in Manhattan on Th...

09 Feb 2:42 AM 0 Read More...

Exclusive: Southeastern joined by other Dell investors - source

NEW YORK | Fri Feb 8, 2013 6:06pm EST NEW YORK (Reuters) - At least three of Dell Inc's top 20 shareholders support Southeastern Asset Management's decision to vote against the $24.4 billion buyout of the No. 3 PC maker led by CEO Michael Dell, a person close to the matter said. Among the holders who support Southeastern are Harris Associates LP, Yacktman Asset Management L...

08 Feb 11:06 PM 0 Read More...

Google's Schmidt to sell roughly 42 percent of stake

SAN FRANCISCO | Fri Feb 8, 2013 5:54pm EST SAN FRANCISCO (Reuters) - Google Inc Executive Chairman Eric Schmidt is selling roughly 42 percent of his stake in the Internet search company over the coming year, Google announced on Friday. Schmidt will sell 3.2 million shares of Class A common stock through a stock trading plan, Google said in a filing with the U.S. Securities ...

08 Feb 10:54 PM 0 Read More...

Dell's largest investor opposes buyout as too low

Fri Feb 8, 2013 3:29pm EST (Reuters) - Dell Inc's largest independent shareholder Southeastern Asset Management said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell who is leading the effort to operate the company away from public scrutiny. Southeastern sent a letter to Dell's board expressing its "extreme disappointment" in...

08 Feb 8:29 PM 0 Read More...

LinkedIn shares soar after stellar results

Fri Feb 8, 2013 1:07pm EST (Reuters) - Shares of LinkedIn Corp climbed nearly 21 percent in midday trading on Friday on results that beat analysts' estimates for the seventh quarter in a row. The social networking website for professionals reported on Thursday an 81 percent increase in fourth-quarter revenue and raised its forecast for the current first quarter.Several research firm...

08 Feb 6:07 PM 0 Read More...

How Einhorn turned from Apple advocate to agitator

By Jennifer Ablan and Poornima Gupta Thu Feb 7, 2013 9:55pm EST (Reuters) - Hedge fund star manager David Einhorn was arguably Apple Inc's biggest cheerleader on Wall Street with a stake worth about $600 million and an oft-cited prediction that the company's market value would hit $1 trillion some day. So it was a shock on Thursday when Einhorn announced that he was suing Ap...

08 Feb 2:55 AM 0 Read More...

Exclusive: Dell shareholder Southeastern unhappy with buyout

By Nadia Damouni and Aaron Pressman and Greg Roumeliotis Thu Feb 7, 2013 9:51pm EST (Reuters) - Dell Inc's largest independent shareholder, Southeastern Asset Management Inc, has told the computer maker that a $24.4 billion buyout bid undervalues it, adding to a chorus of investor dissatisfaction with the landmark deal to take it private, two sources close to the situation s...

08 Feb 2:51 AM 0 Read More...

LinkedIn beats Street, outstrips social media rivals

By Gerry Shih SAN FRANCISCO | Thu Feb 7, 2013 9:13pm EST SAN FRANCISCO (Reuters) - LinkedIn Corp extended its hot streak on Thursday, announcing both blow-out quarterly profits and a bullish forecast for the new year that exceeded Wall Street's already lofty expectations. The results reaffirmed the "professional" social network's reputation as a fast-growing but sur...

08 Feb 2:13 AM 0 Read More...

Einhorn sues Apple, marks biggest investor challenge in years

By Jennifer Ablan and Poornima Gupta NEW YORK/SAN FRANCISCO | Thu Feb 7, 2013 8:53pm EST NEW YORK/SAN FRANCISCO (Reuters) - Apple Inc on Thursday confronted its first major challenge from an activist shareholder in years as hedge fund manager David Einhorn's Greenlight Capital filed suit against the company and demanded it dole out a bigger piece of its $137 billion...

08 Feb 1:53 AM 0 Read More...

Fed still gauging extent of hacker breach, FBI on case

By Alister Bull and Jim Finkle and Rick Rothacker Thu Feb 7, 2013 8:46pm EST (Reuters) - The U.S. Federal Reserve said on Thursday it was still working to determine the extent its computer systems had been breached by hackers, adding that the incident was the subject of a criminal probe by the Federal Bureau of Investigation. "We are in the process of a comprehensive assessm...

08 Feb 1:46 AM 0 Read More...