Microsoft is not privately haggling with Yahoo over the software maker's rejected $31-per-share buyout offer for the slumping Internet pioneer, Bill Gates said in an interview. "We sent them a letter and said we think that's a fair offer. There's nothing that's gone on other than us stating that we think it's a fair offer," the Microsoft chairman said Monday. "They should take a hard look at it."Microsoft Microsoft CorpMSFT
28.579 0.269 +0.95% NASDAQ
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[MSFT 28.579 0.269 (+0.95%) ] made an unsolicited offer to buy Yahoo Yahoo! IncYHOO
29.15 -0.51 -1.72% NASDAQ
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[YHOO 29.15 -0.51 (-1.72%) ] just over two weeks ago. At the time, the deal was valued at $44.6 billion, but since then, Microsoft's share price has tumbled 12.8 percent, pushing the value of the cash-and-stock offer closer to $41 billion.Yahoo spurned the offer and said it "substantially undervalues" the company's assets. The Web portal business was said to be in talks late last week with News Corp. News CorpNWS
20.17 0.12 +0.6% NYSE
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[NWS 20.17 0.12 (+0.6%) ] about a complex deal to push its market value toward $50 billion. Yahoo also was reportedly discussing an advertising partnership with Google Google IncGOOG
515.19 -14.45 -2.73% NASDAQ
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[GOOG 515.19 -14.45 (-2.73%) ].Most analysts believe Microsoft will do whatever it takes to buy Yahoo. Redmond-based Microsoft has invested heavily in honing its own search engine and advertising technology, but neither it nor Yahoo have helped close the gap with Google, which dominates Microsoft and Yahoo in U.S. search queries and related advertising revenue.RELATED LINKS
For Yahoo Board, Microsoft Deal May Be a Duty
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Track Yahoo's EarningsYahoo is believed to want at least $40 per share, but Microsoft has held firm so far, calling its original bid "full and fair." Microsoft's next move could be to take the offer directly to Yahoo's shareholders, or to attempt a hostile takeover of Yahoo's board.
.Altairnano Enters into Supply Agreement and Receives Purchase Order from Phoenix MotorcarsAltairnano Receives 16.6 Percent Ownership of Phoenix MotorcarsRENO, Nev., Jan 09, 2007 (BUSINESS WIRE) -- Altair Nanotechnologies Inc. (ALTI) announced today it received a purchase order for its NanoSafe(TM) 35 KWh battery pack systems from California-based Phoenix Motorcars for $1,040,000 for battery pack systems scheduled for delivery in February and March 2007. In addition, the company announced it has entered into a multi-year purchase and supply agreement with Phoenix under which Phoenix has projected orders for 2007 between $16 and $42 Million for up to five hundred battery pack systems.The initial order of battery pack systems, valued at $1,040,000, is scheduled for delivery to Phoenix in February and March 2007, and additional shipments of increasing value are planned throughout the 2007 calendar year. Depending on Phoenix's level of demand, the entire projected order for NanoSafe battery pack systems may be shipped to Phoenix in calendar year 2007. Under the terms of the multi-year purchase and supply agreement, Phoenix will purchase all battery packs for its electric vehicles from Altairnano.In consideration for a three-year exclusivity agreement within the U.S., Altairnano received a 16.6 percent ownership in the company. The three-year exclusivity agreement provides Phoenix with limited, exclusive use of Altairnano's NanoSafe battery packs in four-wheel, all-electric vehicles having a gross weight up to 6,000 pounds. Phoenix must meet minimum battery pack purchases, annually, to maintain the limited exclusivity agreement. The minimum commitment to maintain exclusivity for 2007 would provide $16 Million in battery pack sales to Altairnano. Altairnano's NanoSafe battery packs manufactured for hybrid electric vehicles (HEVs) and plug-in electric vehicles (PHEVs) are excluded from the exclusivity agreement.Altairnano's NanoSafe 35 KWh battery pack systems enable Phoenix SUTs to meet California's Air Resources Board Type III Zero Emission Vehicle (ZEV) standards while providing power for a driving range of 135 miles and driving speeds of up to 100 miles per hour. The NanoSafe battery pack can be recharged in less than 10 minutes at fast-charge stations.Phoenix Motorcars' market strategy targets operators of fleet vehicles, such as public utilities, public transportation providers, and delivery services. This market presents a significant opportunity as there are more than 200,000 fleet vehicles in the State of California alone, with an increasing number of fleet operators now seeking freeway-capable, zero emission, all electric vehicles. The Phoenix SUT and SUV vehicles are the only all-electric vehicles currently on the market capable of meeting California's Type III ZEV requirements."This order is a significant milestone for Altairnano as we continue to bring our product technologies to market," said Alan J. Gotcher, Ph.D., Altair Nanotechnologies' President and Chief Executive Officer. "The agreement with Phoenix validates our partnership-based business strategy and continues to demonstrate that Altairnano's technology provides unmatched product performance for unmet market needs.""The market opportunity for freeway-ready, all-electric, zero-emission vehicles is growing daily," said Phoenix Motorcars CEO Daniel J. Elliott. "Having a best-in-class company such as Altair Nanotechnologies as an equity owner and as a provider of safe, powerful, fast-charging battery packs, will be a major driver for our growth," added Elliott.ABOUT PHOENIX MOTORCARS, INC.Phoenix Motorcars Inc., headquartered in Ontario, California, has been an industry leader in the development of battery electric freeway speed vehicles since 2001. The mission of Phoenix Motorcars is to manufacture zero emission vehicles including Sport Utility Trucks and Sport Utility Vehicles to reduce the toxic emissions from the largest contributor to air pollution, personal automobiles. For additional information visit: www.phoenixmotorcars.com.ABOUT ALTAIR NANOTECHNOLOGIES INC.Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. Altairnano's leading edge scientists are complemented by a seasoned management team with substantial experience in commercializing innovative, disruptive technologies. The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP pigment process. For more information visit: www.altairnano.com.Forward-Looking StatementsThis release may contain forward-looking statements as well as historical information. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, the risks that Phoenix will not order vehicles as projected, or at the minimum levels required, under the supply agreement; that producers of electric vehicles and hybrid electric vehicles will not adopt Altairnano's nano-Titanate battery technology for various reasons, including possible concerns as to whether the power, driving range, cycle life and other characteristics of the battery technology are suitable for electric or hybrid electric vehicles, or about the design of Phoenix Motorcars' SUTs and SUVs, and other vehicles incorporating the technology; that key commercial partners working with Altairnano on commercial uses for the nano-Titanate battery may proceed slowly with, or abandon, commercialization or marketing efforts; and that even if full commercialization occurs, sales may not reach expected levels for one or more reasons, including failure of end products to perform as expected, the introduction of a superior product or the withdrawal from the project of key commercial partners. In general, Altairnano is, and expects to be in the immediate future, dependent upon funds generated from sales of securities, grants, testing agreements, and licensing agreements to fund its testing, development and ongoing operations. In addition, other risks are identified in the company's most recent Annual Report on Form 10-K and Form 10-Q, as filed with the SEC. Such forward-looking statements speak only as of the date of this release. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.SOURCE: Altair Nanotechnologies Inc.
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Industry: Tobacco
72.72
Last0.74 +1.03%
Altria Group is buying cigar maker John Middleton from privately held Bradford Holdings in cash deal worth $2.9 billion, the tobacco titan said Thursday.
Before the start of trading.
Last: 72.72+0.74+1.03MO 72.72, +0.74, +1.0%)Altria Group announced the deal - with a net cost of $2.2 billion after deducting tax benefits arising from the terms of the transaction - that will further diversify the company which has recently moved into the smokeless tobacco category as well.
It also takes place as the company prepares to spin-off its international division, noted Michael Szymanczyk, chief executive of Philip Morris USA, in the announcement and is "being undertaken to enhance our long-term growth momentum in the U.S. market and create shareholder value. The acquisition is both strategically compelling and financially attractive. It fits squarely with our announced strategy to grow our U.S. tobacco business beyond cigarettes and complements our recent initiatives in the smokeless category."
Middleton's operating revenues are expected to hit $360 million this year and have been growing at a compound annual rate of 10%, largely on the back of its Black & Mild cigar brand. 2007 volume is expected to be 1.2 billion stogies.
Altria said it the transaction is apt to close by the end of the year; is financing it with existing cash; and expects it to be "modestly accretive" to 2008 earnings while generating an "attractive double-digit economic return."
There will be some cost savings, too, Szymanczyk said but "the real appeal of this acquisition is to capitalize on PM USA's sales, distribution and marketing infrastructure and expertise."
In the announcement, Altria noted that the U.S. cigar market is the largest in the world at 10.5 billion units or more than 40% of total global consumption.Freeport-McMoRan Copper & Gold Inc NYSE FCX 4:01 PM ET 11/8/07
Last: 111.60 Change: 3.50 %Change: 3.24% Volume: 15,416,286Freeport, the world's biggest publicly-traded copper miner, posted a profit of $775 million, or $1.87 a share, up from $351 million, or $1.67 a share, a year ago.
Earnings per share from continuing operations came in at $1.85, including 67 cents of charges, against $1.67, which reflected a 16-cent loss on debt reduction. Shares outstanding more than doubled to 447 million from 221 million.
Revenue reached $5.07 billion from $1.64 billion.
Analysts polled by Thomson Financial had expected a third-quarter profit, on average, of $2.26 a share on revenue of $5.12 billion.
Shares of the Phoenix, Ariz.-based miner.
FCX 111.60, +3.50, +3.2%) have doubled this year, but have struggled in recent sessions as copper plumbed a five-week low earlier this week.
The stock did show some legs on Tuesday, however, closing up 4.1% at $111.15. Shares finished Wednesday's session up 69 cents at $111.84.
Wall Street is looking for the company to report a fourth-quarter profit of $2.12 a share and full-year earnings of $9.73 a share.
Revenue is expected to reach $17.44 billion in 2007.Foster Wheeler Ltd NASDAQ GS FWLT 4:00 PM ET 11/8/07
Last: 154.96 Change: 8.95 %Change: 6.13% Volume: 4,458,751Foster Wheeler Ltd announced that two subsidiaries in its Global Engineering and Construction Group have been awarded contracts by Qatar Intermediate Industries Holding Co Ltd (Qatar Holding), a fully owned subsidiary of Qatar Petroleum, to execute the front-end engineering design (FEED) and to provide project management and construction management (PMCM) services for a new grassroots petrochemical complex to be located at Mesaieed in Qatar. Qatar Holding is in the process of establishing a joint venture company for this project with Honam Petrochemical Corporation of Korea. In addition to the usual FEED scope, Foster Wheeler's work also includes the procurement of long-lead items. A portion of the PMCM contract relating to services to be provided up to award of engineering, procurement and construction contracts, will be booked in the 4Q 2007 with the remainder being booked at a later date. The new complex will include world-scale olefins and aromatics units, which will supply ethylene, propylene and benzene to the downstream polypropylene, ethylbenzene, styrene monomer and polystyrene facilities. The complex, which will also include ethylene-to-propylene conversion units, is scheduled for completion in 2011. Foster Wheeler Ltd is a global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development and management, research and plant operation services.Transocean Inc NYSE RIG 4:01 PM ET 11/8/07
Last: 126.51 Change: 0.72 %Change: 0.57% Volume: 7,418,354RIG 126.51, +0.72, +0.6%) said earnings for the three months ended Sept. 30 jumped to $973 million, or $3.24 a share, from $309 million, or 96 cents a share in the year-ago period.
Revenue climbed to $1.54 billion from $1.03 billion on higher revenue from contract drilling.
The latest figure rose 7% from the second quarter amid a record-high day rate of $219,700, up 8.5%, partially offset by a reduction in days in service.
Transocean also booked $36 million in increased operating and maintenance expenses, primarily due to an increase in reimbursable costs and integrated service expenditures, as well as an increase in the number of maintenance projects.
"The increase in average day rate was experienced across all rig categories, primarily as a result of rigs commencing new contracts at the higher prevailing current day rates," the company said.
Items in the latest period included after-tax income of $336 million, or $1.12 a share, related to $276 million for the Todco tax-sharing agreement, $52 million for changes in estimated taxes, and an $8 million gain from the sale of the drilling barge Searex VI.
Breaking out the gains, earnings in the latest quarter totaled $2.12 a share. Analysts surveyed by Thomson Financial forecast earnings of $2.06 a share on revenue of $1.51 billion, on average.Medco Health Solutions Inc NYSE MHS 4:04 PM ET 11/8/07
Last: 96.90 Change: 2.30 %Change: 2.43% Volume: 1,635,418Bucking a broad-based market selloff, Medco closed at a new 52-week high, up $2.25, or 2.4%, to $96.63.
MHS, , ) also raised its forecast for the year.
The pharmacy-benefits manager reported net income rose to $214.7 million, or 78 cents a share, in the latest three months, up from $185.8 million, or 62 cents, earned in the year-ago third quarter.
Adjusted to exclude amortization and other costs, the company would have earned 88 cents in the most recent quarter.
Revenue rose 4.3%, reaching $10.92 billion from $10.46 billion.
Analysts polled by Thomson Financial had, on average, expected the company to earn 79 cents a share on sales of $11.09 billion during the quarter.
"The early releases of the generic forms of several blockbuster drugs, not anticipated in previous guidance, drove our record generic dispensing rate of 60.3% and strongly contributed to our third-quarter results," said JoAnn Reed, Medco's chief financial officer, in a press release.
In addition, Medco raised its profit forecast for the year to $3.16 to $3.21 a share, up from a previous range of $3.11 to $3.16 a share.
Excluding the amortization of intangible assets that existed when Medco became a publicly traded company, Medco -- which was spun off from Merck & Co.
MRK 54.77, +0.57, +1.1%) in 2003 -- expects to generate 2007 earnings of $3.55 to $3.60 a share, up from $3.50 to $3.55 a share previously.
And for 2008, Medco expects to earn $3.89 to $4.01 a share. Excluding the effect of amortization of intangibles, the company's full-year profit is projected in the range of $4.29 to $4.41 a share.
The Thomson Financial-derived average profit estimates stand at $3.56 a share for 2007 and $4.31 a share for 2008.
Excessively cautious?
Analysts wondered whether the company's 2008 adjusted estimate was too low, however.
The forecast "looks conservative relative to our $4.65 estimate and [is] likely to move up during the year," Cowen & Co.'s Kemp Dolliver said in a note to clients. He added that he remains confident that Medco shares can deliver a return of about 10% to 15% return relative to the market over the next year.
At Bank of America, analyst Robert Willoughby echoed that sentiment.
"Our above-consensus forecast for the year has proven to be too conservative, and we view preliminary 2008 guidance as laughable in this respect, based on strong new business wins, its recent profit trends and a lower share base," Willoughby told clients.
Medco said prescription volume, when adjusted for the difference in days supply between mail-order and retail, rose 2% during the September quarter to 182.7 million, with mail-order prescriptions climbing 5.4% and retail down 0.2%.
In Medco's Medicare Part D prescription-drug plan, the generic dispensing rate grew to 64.5% with mail-order penetration of 30.6%.
In August, Medco announced plans to buy PolyMedica Corp. for $1.5 billion, in a move to gain a stronghold in the fast-growing market for diabetes care. The deal, which closed earlier this week, created one of the largest diabetes-care practices, with more than 4 million patients.
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Text Here Chinese banks have traditionally been viewed as badly run with weak balance sheets, but China Merchants Bank (CMB) is an exception. With strong risk-management practices, good brand recognition, and innovative product offerings, CMB offers a lot of promise.China Merchants Bank, the sixth-largest bank in China, made a strong debut in Hong Kong on Sept. 22. The share offering was 50 times oversubscribed from international and local investors and raised $2.4 billion. Its shares soared by 25% on the first trading day and ended at HK$10.68 ($1.37).Banks and brokerages like Citibank (C
Sponsored by:
C),Goldman Sachs (GS
Sponsored by:
GS) and Bank of America (BAC
Sponsored by:
BAC) have been tripping over each other to get a foothold in China's financial services market. The growth potential for the sector is tremendous, and many of these firms have already secured partnerships with large government-owned institutions.Although it doesn't receive as much media attention as some of its larger peers, we believe that two features of China Merchants Bank make it attractive to investors. First, China Merchants Bank has a good track record in credit risk management--a hot topic in the Chinese banking industry. Second, the bank is very successful in retail banking, which is the most profitable and promising segment in China's banking industry.Here is the full report:Thesis
Chinese banks have traditionally been viewed as badly run banks with weak balance sheets, but China Merchants Bank is an exception. With strong risk-management practices, good brand recognition, and innovative product offerings, CMB offers a lot of promise.The Chinese banking sector as a whole presents a dilemma for investors. On the one hand, the Chinese banking sector offers strong growth opportunities, especially on the personal banking side. Compared with corporate lending, personal banking is a high-margin, low-risk business in China with a surprisingly low default rate. Personal banking has grown very quickly in the past 10 years, but it still accounts for less than 20% of revenue for most Chinese banks. On the other hand, investors are still concerned about the extremely high nonperforming loan ratio that was commonplace for Chinese banks prior to 2003. Although the nonperforming loan ratio has fallen to an acceptable level thanks to a government bailout program and rapid expansion of the banking sector's total loan portfolios, investors still want to make sure that risk-management policies have fundamentally improved.Among Chinese banks, CMB's performance is impressive. CMB managed to reduce its nonperforming loan ratio from 10% in 2001 to 2.5% in 2005 without help from the government. The bank's organizational structure has allowed it to manage credit risk better than its peers. Its relatively strong corporate governance and internal control also help. In 2005, its loan loss reserve/nonperforming loan ratio is 111%.CMB is also well positioned to compete in retail banking. CMB's brand recognition rivals that of the "big four" state-controlled banks--Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, and Bank of China--despite CMB being much smaller than those big banks. Also, its innovative personal-finance product portfolio allows CMB to cater to the needs of the middle class. These unique strengths allow CMB to secure low-cost funds and expand its credit card business. CMB's cost of funds is significantly lower than its peers because CMB has a higher proportion of funds coming from retail and demand deposit. CMB is also the number one credit card issuer in China, with 30% market share.CMB listed shares on the Hong Kong Stock Exchange in September 2006. This was the company's second public offering after its IPO on the Shanghai Exchange in 2002. CMB priced its shares at HK$8.55, the high end of the range. With this sale, CMB's capital adequacy ratio sits well above the 8% required by banking regulators. This cash will allow CMB to expand its operations faster than its competitors. CMB also plans to acquire a significant stake in a fund-management company to enter this booming sector and create cross-selling opportunities.Valuation
Our fair value estimate is 10 yuan per share for the mainland-listed shares and HK$10 for the shares listed in Hong Kong. In our valuation model, we assume that CMB's net income will grow by 23% annually over the next five years, which is in line with its historical growth rate. In addition, we project that CMB's assets will grow by more than 30% annually from 2006 to 2008. The bank will continue to increase its leverage until 2008. After 2008, CMB's asset growth will decline to a more-sustainable rate of 8% as the economy slows from its torrid pace and the Chinese banking industry becomes more mature. We expect that the bank's equity/asset ratio will gradually increase to a more comfortable level of 5.5% over time. We project that CMB's net interest margin will gradually go down from 2.61% to 2% by 2012 as the government further relaxes interest-rate regulations. We project that the annual loan-loss provision will go down a bit to 0.6% of total loans as China's banking industry further improves its credit-risk management. We think noninterest income will grow much faster than interest income and will eventually account for more than 20% of total revenue. A big driver of our valuation of CMB comes from the expected removal of the business tax and reduction of the corporate income tax. If the yuan continues its recent trend of appreciating relative to foreign currencies, the fair value estimate will increase for investors outside of China.Risk
The Chinese banking industry is highly sensitive to the economic cycle. Further relaxation of interest-rate regulation is expected to significantly increase competition. The rapidly developing capital markets will also compete with banks for funds and borrowers. Foreign banks may compete with CMB directly because they target a similar clientele and geographic locations. However, CMB is still less risky than its Chinese peers because of its strength in the less-volatile retail banking business.Strategy
CMB aims to become a globally competitive bank and China's best commercial bank. It plans to further strengthen its retail banking and credit card business. With regard to corporate lending, it wants to place more emphasis on smaller firms. Although CMB has competitive advantages on these fronts, achieving these goals will not be easy because most Chinese banks want to pursue a similar strategy.Management
China Merchants Bank was named after China Merchants Group, its founding shareholder and biggest shareholder currently. China Merchants Group holds 21.56% of CMB's common shares, followed by COSCO (7.8%) and China Shipping (5.6%). Each of these enterprises is controlled by the Chinese government. After the share offering, the ownership stakes of all shareholders will be diluted by 20%. China Merchants Group is one of the largest state-owned conglomerates in China, with businesses ranging from transport to property development and financial services. China Merchants Group exerts strong influence over CMB, appointing the chairman and four directors. The chairman of the board of CMB is Qin Xiao, who is also the chairman of China Merchants Group. He served as chairman for CITIC Industrial Bank for four years before joining CMB in 2001. Ma Weihua is CMB's president and CEO. Before joining CMB in 1999, he worked in various management positions in People's Bank of China, the Chinese central bank. The five highest-paid officers received around 20 million yuan per year in total compensation over the past three years, which is on par with the industry norm. After its public offering in Hong Kong, CMB plans to adopt a share-appreciation rights plan that will tie part of management's compensation to share prices.Profile
Established in 1987, China Merchants Bank is the sixth-largest commercial bank in China and second-largest among China's shareholding banks. As of June 2006, CMB had 824 billion yuan in total assets, and its market share in terms of total deposits was 2.1% in a market dominated by the four large state-controlled banks. CMB operates 463 branches, mostly located in China's affluent southern and eastern regions. CMB owns 31% of China Merchants Fund Management Company.Growth
Net revenue grew 31% per year over the past three years. Looking forward, we expect the revenue growth to slow down due to competition and capital constraints, even with the capital raised from the public offering. CMB will rely more on growth from noninterest income.Profitability
CMB's profitability in 2005 can be attributed to a strong economy, increased leverage, and prudent lending policy. Unless the Chinese economy slows significantly, CMB should remain very profitable.Financial Health
CMB has one of the lowest default rates and highest loss-provision coverage ratios among its Chinese peers. The money raised from the share offering in Hong Kong will further strengthen its financial health. However, the company's tendency to increase leverage will be a concern in the longer term.Bulls sayWith China's strong economy, improved bank management, and booming middle class, the time has come to invest in the Chinese banking industry.
A stable and profitable banking industry is very important to the long-term success of China's economy. The government will try to make sure that most of the banks make money.
CMB has a better track record in risk-management than its peers. Good corporate governance and fewer legacy loan problems set it apart from the "big four" banks.
CMB has a proven track record in retail banking. Its brand recognition and innovative product offerings lend it strength in personal banking in a country with 1.3 billion people.
Bears sayThe Chinese banking industry is very sensitive to the business cycle. The high leverage of most Chinese banks makes them vulnerable to an economic downturn.
China's banking sector as a whole is still largely an unknown quantity given its poor asset quality before 2003. It will take some time to determine if the improved asset quality reflects the real improvement in corporate governance and risk management.
Further relaxation in interest-rate regulation would squeeze Chinese banks' interest spreads. The rapidly developing capital market will compete with banks for funds and quality borrowers.
CMB is still too small compared with the "big four." Its smaller branch network hinders its ambition to become a leader in retail banking.
CMB will face strong competition from foreign banks after the sector is opened in 2007. With regard to retail banking, foreign banks and CMB will target the same market segment
Music:
To lower support costs and make customers feel more comfortable with open-source software, Oracle announced a new program Monday to let its users know which Linux system configurations the vendor has pre-tested.Free IT resourceProCurve Networking Spotlight
Sponsored by HPFree IT resourceEnterprise Search Spotlight
Sponsored by GoogleOracle's Validated Configurations program covers software, hardware, storage, and networking stacks for running Linux.Customers can download a short document containing a list of the system configurations Oracle has pretested along with documented best practices from the Oracle Technology Network.The idea is to help customers speed up the deployment of Linux systems, said Wim Coekaerts, director of Linux engineering at Oracle. If the program is successful, it should also drive down support costs for Oracle. "Very often customers call us with problems caused by misconfigurations," he said.Coekaerts stressed that the Validated Configurations program should be seen as providing recommendations to Oracle customers, not laying down the law on what systems they should deploy.Oracle worked on the configurations with partners including the two leading Linux distribution players, Novell and Red Hat, chip makers Advanced Micro Devices (AMD) and Intel as well as computer and storage vendors Dell, EMC, Hewlett-Packard, IBM, Network Appliance, and Sun Microsystems. Oracle made its validation test kit available to the companies so they could test and publish the vendor's validated configurations. Oracle may also look to share some of its system tests with its customers, Coekaerts said.Oracle and its partners plan to issue new configurations and update existing configurations as new releases of specific components appear.The database and applications vendor had its first database running on Linux in 1998 and begun offering full support for the operating system in June 2002. Linux is set to overtake Sun's Solaris operating system next year as the leading platform for Oracle database users, according to a recent survey of members of the Independent Oracle Users Group (IOUG).In April, Oracle Chief Executive Officer Larry Ellison caused a stir with public comments suggesting that Oracle might offer its own Linux distribution. Coekaerts said some Oracle customers have quizzed him about that possibility. His take is that there are already a large number of Linux distributions in the market so adding another one might not be a good or helpful move for Oracle or its customers. "It's business as usual," he said. "We're focused on our partners Red Hat and Novell."While the configuration program's partners so far are large global vendors, Oracle is looking at working with more local players in Asia, Coekaerts said.As well as Red Hat and Novell's Suse, Oracle also supports the Asianux Linux distribution.Currently, Oracle doesn't certify the Ubuntu Linux distribution since it's seeing little demand for such support among its enterprise users, Coekaerts said. "If that were to change, we'd definitely consider supporting Ubuntu, we're really market driven," he added... width="425" height="355" .. object type="application/x-shockwave-flash" allowScriptAccess="never" allowNetworking="internal" height="350" width="425" data="http://www.youtube.com/v/5d692RXPeOU"
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Cisco Systems, which sees a future in being a provider of all the equipment used for video on demand, continued its buying spree Monday with an announcement that it will purchase Arroyo Video Solution, a Pleasanton firm that makes software that allows video servers to connect, for $92 million.
The acquisition of Arroyo marks a continued shift in Cisco's strategy to become a key player in a growing market in which digital movies, music, television and telephone services run over networks, and can be watched on several devices at any time.
Initially, Arroyo's technology will improve viewers' experience of watching what is known as time-shifted television on cable set-top boxes, said Paul Bosco, Cisco's vice president of cable and video initiatives. With Arroyo, the consumer will eventually have a networked digital video recorder, allowing a person to watch anything at any time. The technology also allows advertisers to insert advertising that can be targeted to the viewer's demographics.
Ultimately, with Arroyo, which already counts cable companies as customers, Cisco takes a step closer to being able to offer several kinds of media -- television programming, streaming video and music -- on any device people want, he said.
Cisco, the San Jose networking giant that makes the technology that sends data over the Internet, is 'trying to bring the best of the Web to the TV, and bringing the richness of the television to the Internet,' Bosco said.
Arroyo's technology will allow people to eventually pull up any content, even last week's news, on their television sets and personal computers, said Michael Howard, principal analyst and co-founder of Infonetics Research, a market research firm. 'All that content is stored on a server somewhere, and it's available to me when I want to get it.'
In some ways, Cisco's purchase can be viewed as a defensive move, snapping up Arroyo before one of its competitors or customers could buy it, Howard said.
Eve Griliches, research manager at IDC, a market research firm, sees Cisco's purchase as a smart move. 'What Cisco is doing is not wasting any time to make sure that the path to the set-top box in the consumer home will be pulled together by them,' she said.
The advantage of Arroyo's technology, said Griliches, is that it will allow all video servers to back up one another. 'You can use one server for storage. If one server goes down, the other server can take over, which is really huge.'
The deal for Arroyo, a privately held company, is the latest in a string of acquisitions in the past year that indicates Cisco, the leading network-gear maker, sees delivering video as its biggest challenge and opportunity.
In November, Cisco announced its $6.9 billion purchase of Scientific Atlanta, the set-top box manufacturer. In June, Cisco announced it was investing in Akimbo, a San Mateo start-up that delivers video to home TVs via a set-top box. Cisco has also invested in two content companies, CinemaNow and MovieBeam.
With Arroyo, which has 44 employees in Pleasanton and Utah, Cisco will get the benefits of working with Drew Major, an original founder of Novell and Paul Sherer, former chief technology officer at 3Com.
Television:
Monday, July 24, 2006 7:54 AM EDTDear Action Alerts PLUS Subscriber,Schering-Plough (SGP:NYSE) is out with numbers this morning that look pretty darned good on the surface. The stock was recently trading in the premarket session at $20.40, and I am not taking action here.For the second quarter, Schering earned 25 cents a share vs. an 8-cent consensus number. Revenue of $2.83 billion handily topped the Street's $2.63 billion estimate. The company had strong success with Remicade for autoimmune disorders and Nasonex for sinus conditions. Also, sales of Schering's cholesterol portfolio, which includes Zetia, came in at $958 million, $62 million ahead of Bear Stearns' sales forecast.Schering continues to be my largest holding, in part because of my confidence in Fred Hassan's ability to right this ship and in part because of the stock's defensive nature in this volatile market. If you have a large position, I think you can pare some nice gains into strength today to trade around your core position. I can't do so because of my trading restrictions, though, and my long-term thesis remains unchanged.Regards,James J. Cramer
Books:
= The IBM Way, Making the deal, The Warren Buffet Way
NetJets® Inc. Renews Sponsorship Agreement With NTRA/Breeders' Cup Through 2007
NetJets, the National Thoroughbred Racing Association (NTRA), and Breeders' Cup Limited announced today that NetJets, the pioneer and worldwide leader in fractional aircraft ownership, has renewed its marketing partnership with the NTRA/Breeders' Cup through 2007. NetJets has been a sponsor of the NTRA and Breeders’ Cup since 2002.Under the agreement, NetJets will continue as title sponsor of the $2 million NetJets Breeders' Cup Mile, and the NetJets Mile Division, consisting of 27 graded stakes races leading to the Breeders' Cup World Championships. The internationally-renown NetJets Breeders’ Cup Mile is a one mile turf race contested each fall as a part of the $20 million Breeders’ Cup World Championships, and is televised live by ESPN in the United States and by various networks around the world. This year’s Breeders’ Cup will be held at Churchill Downs in Louisville, Ky., on Saturday, November 4.In addition to the Breeders’ Cup, NetJets will continue its international horse racing partnerships with The Curragh in Ireland, France Gallop, and Baden-Baden in Germany.“The Breeders’ Cup is the world’s foremost day of racing, attracting the finest horses from the greatest racing establishments in the world. As the world leader in fractional jets ownership, NetJets, has found this event to be a perfect fit, and is proud to continue our sponsorship of this great day of racing,†said NetJets Chairman and CEO Richard Santulli.“We are delighted that NetJets has renewed its relationship with the NTRA and the Breeders’ Cup,†said Greg Avioli, interim chief executive officer of the NTRA and Breeders’ Cup Ltd. “As the industry leader in private aviation services, NetJets continues to be a terrific match as a marketing partner for excellence in Thoroughbred racing."NetJets Inc., a Berkshire Hathaway company, provides the safest and most secure private aviation solutions in the world. NetJets fractional aircraft ownership allows individuals and companies to buy a piece of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice. The NetJets programs worldwide offer the largest and most diversified fleets in private aviation, which includes 14 of the most popular business jets in the world. Access to the NetJets fleet is also available in the form of a short-term lease, sold on an all-inclusive, pre-paid basis in 25-hour increments, through an exclusive alliance with Marquis Jet Partners. NetJets, Inc. also offers aircraft management, charter management and on-demand charter services through its subsidiary, Executive Jet Management. More information on NetJets, the Marquis Jet Program and Executive Jet Management is available at www.netjets.com.The NTRA is a broad-based coalition of horseracing interests, including the American Quarter Horse Association, charged with increasing popularity of horseracing and improving economic conditions for industry participants. The NTRA and Breeders' Cup Limited also administer the Breeders' Cup World Championships, Thoroughbred racing's year-end Championships consisting of eight races and $20 million in purses and awards, and the Breeders' Cup Stakes Program. The NTRA has offices in L
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Heroes:
= 2 God, Warren Buffet, Bill Gates, Sean Carter
Ipix Corp NASDAQ CM IPIX 3:59 PM ET 7/28/06Last: 0.50 Change:volume:na !!!!!!!!!!!!!!!!!!!!!DON"T BUY THIS STOCK!!!!! GET OUT FAST IT IS TANKING QUICKLY!!!!!!!!!!!!!!!!!
NASDAQ Changes Status of IPIX Corporation and Requests Additional Information From CompanyLast Update: 8/2/2006 9:49:07 AM
NASDAQ Changes Status of IPIX Corporation and Requests Additional Information From Company
NEW YORK, Aug 2, 2006 (PRIMEZONE via COMTEX) -- The Nasdaq Stock Market, Inc. (NDAQ) today announced the trading halt status in IPIX Corporation (IPIX) was changed to "additional information requested" from the company. Trading in the company was halted on Friday, July 28, 2006, at 4:00:49 p.m. Eastern Time at a last sale price of $0.50. Trading will remain halted until IPIX Corporation has fully satisfied NASDAQ's request for additional information.
.. Gsi Commerce Inc NASDAQ GS GSIC 4:00 PM ET 3/13/07
