Digest
Digest
|
TOOLBOX
   Resize
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
Who's Blogging  |
MERGERS & ACQUISITIONS
Hewlett Packard to buy 3Com for $2.7 billion
Hewlett-Packard, looking to expand into a business long dominated by Cisco, said Wednesday it has agreed to buy networking software and equipment maker 3Com in a deal the companies valued at $2.7 billion.
HP also issued a preliminary report Wednesday for the three months that ended in October, saying it earned 99 cents per share, compared with 84 cents in the year-ago period.
After adjusting for restructuring and other one-time items, HP said it earned $1.14 per share. Revenue fell 8 percent from the same period a year ago, to $30.8 billion. HP did better than Wall Street was expecting, according to a Thomson Reuters poll.
Shares of HP added 4 cents to close at $50.
-- Associated Press
EXECUTIVES
AIG's Benmosche says he plans to remain
American International Group chief executive Robert Benmosche said Wednesday he plans to stay in his job at the embattled insurer.
Benmosche, who took over in August, announced his intentions in a letter to employees released by AIG following a report in the Wall Street Journal saying he was threatening to quit. The Journal said Benmosche has been frustrated by heavy government scrutiny and cumbersome restrictions on executive pay.
