Archive for October 22, 2008

Samsung Electronics Co. Ltd. said that it has pulled its acquisition offer for chipmaker SanDisk Corp., citing a lack of progress in merger talks and “growing uncertainties” about SanDisk’s business amid the economic downturn.

On another note, SanDisk Corp. announced that it will sell 30% of its manufacturing capacity to Toshiba Corp. in a $1 billion deal.

Yahoo cuts workforce by 10%

Posted: October 22, 2008 in Tech

Yahoo! Inc. announced a 64% drop in its net income for the third quarter hurt by higher cost of revenues and operating expenses.

In an effort to reduce the costs by more than $400 million in the fourth quarter and reign in the expenditures, Yahoo! unveiled plans to reduce the global workforce by at least 10% (more than 1500 employees) during the fourth quarter.

The company further noted that additional cost cutting measures are also contemplated to achieve structural efficiencies during fiscal 2009 and ensure long-term sustainable growth.

EMC reports double-digit growth

Posted: October 22, 2008 in Tech

EMC Corp. reported double digit jumps in revenue and earnings for the third quarter.

The company reported third quarter earnings of $3.7 billion, a 13 percent jump over the same quarter last year. Earnings also jumped 14 percent year-over-year to $528 million or 25 cents per share, excluding one time charges.

Adobe has released updates for its Photoshop Lightroom software and the Photoshop Camera Raw plug-in. The updates add support for 15 new camera models, and the Lightroom update also improves 64-bit performance on Intel-based Macs running Mac OS X 10.5 or higher.

Lightroom 2.1 also improves integration with Photoshop along with Keyword migration from Lightroom.

Novell, Sun and Oracle announced updates to their identity-management platforms that focus on monitoring access controls and strengthening authentication.

Novell and Sun both unveiled tools for compliance (compare auditing and compliance tools), while Oracle added features to its strong authentication platform.