Author Archives: Scalper1

IRobot under the gun to divest defense robot unit

Despite pressure from a major investor to focus solely on home cleaning robots, iRobot (IRBT) should stick to its guns and keep its defense and security robot business, Canaccord Genuity analyst Bobby Burleson said Wednesday. Red Mountain Capital Partners disclosed Tuesday that it had taken a 6.1% ownership stake in iRobot. In an open letter to management, Red Mountain Capital urged iRobot to focus on its core consumer robot business, explore

Uber Seeking $2.1 Billion As Largest Tech ‘Unicorn’

Ride-hailing service Uber Technologies is looking to raise up to $2.1 billion in new financing that would value the company at $62.5 billion, says a report from Bloomberg. Uber has filed paperwork in Delaware detailing the fund-raising plans, according to people who asked not to be named because the plans are private, Bloomberg reported. The $62.5 billion valuation is above the $51 billion valuation Uber received during a $1 billion funding

Qualcomm Strikes Licensing Deal with Xiaomi; Stock Up

For quite some time now, pessimism has been looming large over Qualcomm Inc.’sQCOM licensing business in China. However, after an extensive tussle with regulators and domestic smartphone companies, things are starting to look up for Qualcomm in China, thanks