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Sprint’s board is watching CEO Dan Hesse closely amid investor unrest

March 13th, 2012

After five years at Sprint’s helm, CEO Dan Hesse’s effectiveness is being called into question. While Hesse and his team have managed to stall subscriber defection, revenue continues to decline. With flops in Clearwire, WiMAX, LightSquared and a risky $15.5 billion gamble on Apple’s iPhone, Sprint investors fear the CEO may not have what it takes …

Sprint seeks an additional $2 billion from investors

February 27th, 2012

Sprint on Monday announced that the carrier is issuing another round of notes due in 2017 and 2020 in an attempt to generate approximately $2 billion in capital. The investment would allow Sprint to fund general operations, build out its LTE network and possibly help fund the Clearwire as it continues to struggle. “The company intends …

Tim Cook: Apple has more cash than it needs

February 23rd, 2012

During the company’s annual shareholders meeting on Thursday, CEO Tim Cook acknowledged that Apple has more money “than we need to run a company.” Apple’s board is currently engaged in “active discussions” about what to do with the $100 billion in cash it has on hand, hinting at the possibility of a dividend. “The board …

Apple iPhone 4S fails to impress Wall Street

October 4th, 2011

Apple took the wraps off of the iPhone 4S today but its stock price dipped by as much as 5% as investors looked to the Cupertino-based company to release a more impressive next-generation smartphone. Fifteen months after last updating its iPhone, investors wanted to see an all new design but instead were met with an incremental …

RIM agrees to consider splitting CEO, Chairman roles

June 30th, 2011

Research In Motion on Thursday said it would consider splitting its Chief Executive and Chairman roles ahead of its annual shareholder meeting next month. Jim Balsillie and Mike Lazaridis currently each occupy both roles, and the pair have been the targets of much criticism from shareholders, analysts and the media since RIM’s earnings call earlier …

As analysts and investors jump ship, Macquarie sees opportunity in RIM

June 27th, 2011

Following first-quarter earnings that sent investors and the media into a tizzy, analyst coverage of RIM has been fairly monotone. The consensus? The company is doomed. Sure, there’s been an odd half-hearted vote of confidence here and there, but the majority of analyst coverage we’ve seen has been negative and investors are exiting en masse. In …

Facebook stock sale would value company at $70B

April 28th, 2011

That’s not a typo in the title, that’s seventy billion dollars… with a “b”. Reuters is reporting that a group of private investors is looking to offload nearly $1 billion worth of shares they hold in social networking company Facebook. The price per share puts Facebook’s valuation at nearly $70 billion. “The current deal, which …

Clearwire plans to shake the money tree, looking to raise $1.1B through sale of debt securities

December 2nd, 2010

Last month, we reported on the short-term liquidity problems on the horizon for WiMAX network operator Clearwire, and today, the company has announced measures aimed at rectifying its current situation. Clearwire plans to raise over $1.1 billion through the sale of debt securities in “private placement transactions.” As the press release reads: Clearwire Communications is …

Nokia posts mediocre Q2, 1% bump in net sales

July 22nd, 2010

Global leader in mobile Nokia, posted their Q2 2010 numbers this morning, and to be honest, they are just okay. The Finnish company posted net sales of €10 billion, which is up 1% year-over-year — but down 4% when adjusted for constant currency — and had net sales of €6.8 billion — which is up …