Stock BlurbsStocks and Financial News
Myspace to acquire ILike
Myspace will purchase social network music site ILike.com for an undisclosed amount.
Brothers Ali and Hadi Partovi founded iLike in 2006. In two years iLike has become the largest music application across all social networks — with 55 million total users and 1.5 billion monthly impressions. No structural changes will be made among management or employees [...]
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 [...]
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.