AMD's stock price is down around 18 percent since the chip maker posted Q2 financial results
Sometimes it seems like AMD can't catch a break. That's certainly true of its second quarter performance -- the Sunnyvale chip maker announced Q2 revenue of $1.44 billion, representative of a 3 percent sequential bump and a year-over-year jump of 24 percent. Not too shabby, though at the end of the day, AMD's debt burden dragged the company down by contributing to a net loss of $36 million.
Lenovo expanded its position as the No. 1 PC supplier in the world
The good times keep rolling for Lenovo, the company that continues to defy the odds with record growth. This time, Lenovo posted revenue of $38.7 billion for its full fiscal year, up 14 percent compared to a year ago and the highest it's ever been. In fact, Lenovo broke records all around, including pre-tax income of $1.01 billion, up 27 percent year-over-year and record full year earnings of $817 million, up 29 percent.
There's a new chief in town and his job will be to pick Nokia up by the bootstraps and kick the company into gear. After selling off its mobile handset business to Microsoft and reporting a less than stellar quarterly earnings report, Nokia on Tuesday promoted Rajeev Suri to President and Chief Executive Officer (CEO), a promotion that will go into effect on May 1, 2014.
IBM knows the business areas it wants to focus on going forward. The company also knows that job cuts are inevitable as it attempts to "rebalance its workforce" to the fit the direction it's headed, though exactly how many employees will be receiving pink slips hasn't yet been determined, at least not officially. Unofficially, IBM may reduce the number of workers in its Systems and Technology group by up to 25 percent.
Big changes are in store for Sony as part of a restructuring effort
Sony this week announced plans to close down 20 retail stores scattered throughout the United States, which will leave the company with 11 stores in California, New York, Florida, and Texas. The closures are casualties of a restructuring effort intended to help Sony remain competitive in an "evolving consumer electronics market," the company said. Thousands of job cuts are also in Sony's future.
Talk about a (Bio)shock to the system -- Irrational Games, the studio responsible for the BioShock series, is officially closing up shop after close to two decades of game development. Co-founder Ken Levine delivered the sad news to the gaming community in a blog post today, saying he's at a point where he needs to refocus his energy on a smaller team with a more direct relationship with gamers.
Asus and Google are quickly becoming BFFs. As you already know, Asus is the one that builds Google's 7-inch Nexus tablet, and earlier this week, Asus announced plans to release a Chromebox starting at $179 in March. Google has now taken the higher end version -- the one with a Core i7 processor -- and is targeting businesses with a Chromebox bundle that's supposed to make videoconferencing easy.
Rumor has it Lenovo is interested in Sony's Vaio PC business
Reports emerged over the weekend claiming Lenovo, the world's No. 1 PC maker in terms of shipments, has been in talks with Sony about a possible joint venture involving the sale of Sony's Vaio PC business. Considering that Sony's Vaio PC division is operating at a loss, not to mention Lenovo having just announced plans to purchase Motorola Mobility for $2.91 billion, investors are spooked.
Acer was riding pretty high back in the netbook era, sales of which helped the company post record revenue of $17.5 billion with net operating profit reaching $478.1 million in 2009. At the time, Acer predicted it would supplant Hewlett-Packard as the world's No. 1 PC maker by 2012. Instead, Acer saw its CEO Gianfranco Lanci walk away after a disagreement with the board, and not long after, the PC maker posted its first quarterly loss. Fast forward to today and all eyes are on Acer's new chief, Jason Chen.
Acer's search for a new chief has come to end. The man who will replace interim CEO Stan Shih is Jason Chen, who served at TSMC from 2005 to 2008 as the vice president of TSMC Corporate Development. Since then, he's been serving as senior vice president of Worldwide Sales and Marketing at TSMC. As for Shih, he will continue to serve as Chairman of Acer and Chairman of the Transformation Committee, Acer said.