Here are some things going on this morning in your world of tech:
Shares of Apple (AAPL) are down $2.08, or half a percent, at $451.54, and The Wall Street Journal’s Joe Light yesterday chronicled the pain of Apple shareholders during the 36% fall from a�lifetime�high of $705.07. He notes 60% of actively managed U.S. stock funds held some Apple in their portfolios at year’s end.
Regarding shareholders, Dan McCrum with The Financial Times late yesterday wrote�that�Apple has�enlisted�the help of Calpers to enlist large shareholder support for changes in the policy of howdirectors are appointed�to�its board. McCrum writes that Calpers is to file a statement today supporting the governance changes.
Shares of Acme Packet (APKT) are up $5.56, or 23%, at $29.48 after Oracle (ORCL) this�morning�said it would buy the networking equipment company for $29.25, or $1.7 billion after factoring in Acme’s cash. Oracle said it intends to continue to sell Acme gear to�telcos�to help build their IP networks. Oracle shares are down 43 cents, or 1.2%, at $35.77.
Shares of BlackBerry (BBRY), still technically known as Research in Motion, are having their first day of trading on Nasdaq under their new symbol. The stock got an upgrade this morning�from Bernstein Research’s Pierre Ferragu to Outperform, with a $22 price target, writing that initial distributor feedback regarding the overseas�debut of the Z10 handset suggests to him the stock has more room to run, with or without a fully fledged comeback. (See my�review�of the Z10 handset in this week’s Barron’s print edition.)�
BBRY is up up 82 cents, over 6%, at $13.85.
Shares of Yahoo! (YHOO) are up �2 cents at $19.78 in early trading after Stifel Nicolaus’s Jordan Rohan raised his�rating on the stock to Buy from Neutral,�with a� $25 price target, writing that even without a “meaningful” revival in the core business, “We believe at its current buyback rate, Yahoo! should be valued in the mid-$20s before year-end and even higher after the Asian assets are monetized.”
Shares of Cisco Systems (CSCO) are up 7 cents at $20.90 after Oppenheimer & Co.’s Ittai Kidron raised his price target on the shares to $24 from $22, writing that there’s upside to the company’s January-ending fiscal Q2, based on his “channel checks,” with the company “holding up against a challenging macro” in routing and switching, and showing “momentum” with its unified compute system, or UCS, servers.
Shares of Dell (DELL) are off 9 cents, or 0.7%, at $13.54 as CNBC‘s David Faber�reported just now that his sources still tell him there’s a deal coming for an LBO of the company later today, at $13.50 to $14 per share, but that he has no news to offer since reports on Friday.�
Update: Faber a short while ago said it now seems a deal may be announced tomorrow. He said Microsoft (MSFT) may put $2 billion into the deal.
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