Tech stocks were pressured Friday by shares of Intel Corp. after the world's largest computer chip maker posted a drop in earnings and revenue for last year's final three months. The company issued the report after Thursday's closing bell, holding back stocks including the company's own shares, which were down 6.7 percent with just a half hour left in Friday's session. The other chipmakers saw their shares slip, as well, though the broader Nasdaq had rebounded late in the session and was just shy of breaking even for the day with the trading day nearly over.
Paul Otellini revealed on Monday he will be stepping down as the chief executive officer for tech giant Intel at the company's stockholders meeting in six months. Otellini has been a part of the Intel team for nearly forty years and has served as CEO for the last eight. Otellini was just the fifth CEO in Intel's 45-year history, and will stay on to help with the transition to the company's next generation of leadership. Intel's board has also promoted several high-level executives to help make the transition go smoothly. Intel said it will conduct an extensive search for its next leader, both within the company and elsewhere.
Intel Corp announced on Monday it is raising its quarterly dividend payment to shareholders by 7.1 percent. The world's largest chipmaker said it expects 2012 may bring a record revenue total thanks to the company's recent efforts to expand into the mobile phone market. The dividend hike is Intel's third in the last 18 months, and means shareholders will receive 22.5 cents per share from the 21 cents it paid out last quarter.
AMD, the world's largest manufacturer of computer chips next to Intel, announced late Thursday that it was preparing to trim about 1,200 jobs from its payroll, just over 10 percent, in an attempt to reduce costs. The company said it would begin to benefit from the move immediately, cutting its labor cost by $10 million this quarter and $118 million in the first quarter of 2012. The company also said it will implement certain “operational efficiency initiatives” which it hopes will save it another $90 million next year.
Intel Corp announced Monday it has agreed to a deal in which it will acquire Telmap, an Israeli-based mobile navigation software developer. Terms of the deal were not disclosed by either company, but Israeli media reported the purchase price at between $300 million and $350 million. The deal is expected to close before the end of the year, and will see Telmap become a wholly-owned subsidiary of Intel.
At its annual developer forum on Monday, chipmaker Intel unveiled a new computer chip that could significantly lower the amount of energy used by computing devices. The chip, which is currently being called “Claremont” by the company, is a near-threshold voltage processor, meaning it allows transistors to operate at very low, near-threshold voltages to increase efficiency and decrease consumption. Threshold voltage is the level at which transistors turn on and begin conducting current.
Google and Intel announced this week they have agreed to a new partnership in which smartphones running Google's Android operating system will begin featuring Intel chips in the first half of next year. The collaboration was announced at Intel's developer conference in San Francisco. For Intel, the move makes perfect sense. As the popularity of tablet computers has grown rapidly, Intel has been one of the hardest-hit companies by the trend as less Americans purchased PCs running on its processors.
A study released Wednesday named San Francisco as the greenest city in the US or Canada, followed by Vancouver. New York City, surprisingly, came in third. The study was commissioned by Siemens and conducted by the Economist Intelligence Unit, an independent research organization. The study ranked 27 major cities in the US and Canada in nine environmental categories: CO2 emissions, energy, land use, water, buildings, waste, air quality, transport, and environmental guidance.
Helwtt-Packard Co. has reportedly filed a breach of contract lawsuit in San Jose, California, claiming that over an eight month period, the company violated an agreement between the two companies. The lawsuit, filed Wednesday, cited Oracle's hiring of former Hewlett-Packard CEO Mark Hurd last year and its announcement in March that it would no longer support its database software on Hewlett-Packard's computer servers that use the Itanium chip.
Intel engineers are reportedly developing an interconnect system that will be capable of transferring data between devices at an astonishing rate of 50Gbps. The news comes just a few months after Thunderbolt, an interconnect capable of 10 Gbps transfers, debuted with the new Macbook Pro.