Tag Archives: bad-request

Qualcomm ‘Getting Religion’ With Restructuring, Cuts

Qualcomm (QCOM) got several price target cuts Thursday after the chipmaker late Wednesday reported a big drop in fiscal Q3 earnings, gave a weak outlook and announced that it’s “aggressively right-sizing” by eliminating up to $1.4 billion in spending and slashing 15% of its workforce. The San Diego-based company said that its strategic realignment effort could include breaking into separate patent-licensing and chip-design companies, among many

Cisco Exits Cable TV Boxes Amid Web Streaming Shift

Cisco Systems (CSCO) exited the cable set-top box market, selling off its home video equipment business at a loss to France-based Technicolor for about $600 million, as more consumers shift to Web streaming devices and services. Cisco acquired the business from Scientific Atlanta in 2005 for $6.9 billion, or $5 billion net of cash. Technicolor will pay Cisco about $450 million in cash and $150 million in stock. Cisco’s exit follows that of Google

Lilly, Bristol-Myers Beat Q2 Views, Lift Guidance

Big pharmas Eli Lilly (LLY) and Bristol-Myers Squibb (BMY) both soundly beat Q2 earnings estimates Thursday morning. Both also raised guidance, but not as much as their quarterly beats seemed to warrant. Lilly’s profit, excluding one-time items, rose 22% over the year-earlier quarter to 90 cents a share, beating analysts’ consensus by 16 cents, according to Thomson Reuters. Revenue rose 1% to $4.98 billion, where analysts had expected a slight