Stock BlurbsStocks and Financial News
United States Asks Court to Enforce Summons for UBS Swiss Bank Account Records
It was previously reported that there were 17,000 US customers at UBS who were hiding assets from the IRS but now it is alleged that the number is closer to 52,000 with assets of 14 billion.
Here is what was reported on the DOJ website
WASHINGTON – The government filed a lawsuit today in Miami against Swiss [...]
Sprint 4Q 2008 Loss less than expected but keeps losing customers
NEW YORK -(Dow Jones)- Sprint Nextel Corp. (S) posted a narrower fourth- quarter loss and indicated that it’s on the cusp of turning around its subscriber losses.
The Overland Park, Kan., wireless carrier lost 1.3 million subscribers in the fourth quarter – still an alarmingly high rate – but suggested the declines were stabilizing as predicted. [...]
HP’s Profit Drops 13%, Cuts 2009 Forecast
Computer giant Hewlett Packard is feeling the recession as it reported a profit drop of 13 percent and was forced to cut it’s 2009 forecast.
“The swing in the revenue outlook is particularly glaring and suggests that, clearly, their business has slowed materially over the last two months,” said Calyon Securities analyst Shebly Seyrafi.
The company [...]
UBS to pay 780 million to US Government over tax charges
Switzerland’s largest bank, UBS, has admitted helping U.S. taxpayers hide money from the IRS. They have agreed to pay $780 million in fines and restitution, and to turn over account information.
“UBS admitted to conspiring to defraud the United States by impeding the IRS,” the Justice Department announced late Wednesday.
The statement says that UBS, “in an [...]
Cisco possibly eyeing VMware
Rumors have been posted around the web that Cisco is possibly looking to make a play for VMware. Cisco is currently sitting on 29 billion in cash, most of which is overseas and faces taxation if repatriated. EMC currently owns 84 percent stake in VMware.