PC chipmaker Advanced Micro Devices said on Thursday it will cut its work force of nearly 12,000 by 15 percent, its second round of layoffs in less than a year as it struggles with a weak global economy and a consumer shift toward tablets.
The chip maker that was a thorn in Intel's side during the PC glory years announced preliminary quarterly results after Thursday's market close, and it wasn't pretty.
Zynga's stock has shed more than two thirds of its value since the company went public at $10 just nine months ago, but now the online gamemaker is in the news for something that may actually be good.
Buyouts, bum guidance, and a broadening decline for a one-time tech titan top the week in review. Go inside the stories that prompted this week's big buys and sells in the nexus between Wall Street and Silicon Valley.
After a wild third quarter, the market seems to have stabilized a bit this week, in spite of a late Friday drop. With little macro-data news, investors turned their focus to Europe's debt crisis and third-quarter earnings season. Company-specific news drove stocks; here's a closer look at some of the S&P 500's most notable movers.
Intel has discovered a design flaw in its recently released Intel 6 Series chipset, code-named Cougar Point, and has halted shipments of the support chip.
Better-than-expected earnings from General Electric helped lift the Dow and S&P 500. The Nasdaq closed lower after disappointing results from chipmaker Advanced Micro Devices. Overall, the week's strong earnings bode well for coming corporate reports.
AMD announced the resignation of CEO Dirk Meyer Monday, sending stock down over 4% in after-hours trading.
Advanced Micro Devices has lowered its third-quarter sales guidance, citing weaker-than-expected demand for laptops in North America and Europe. The news comes after another chip maker, Intel, cut its third-quarter forecast last month.
PC orders are "falling off a cliff," according to a J.P.Morgan analyst who downgraded his revenue estimates for Intel on Tuesday. Another analyst offered a similarly glum assessment.
After years of battle, the Federal Trade Commission plans to report details of an antitrust settlement with Intel on Wednesday.
Turns out, the incredible results Dell delivered during the last decade weren't so incredible after all. The SEC has levied fines against Dell, and founder Michael Dell, after charging the computer-maker with accounting fraud.
Intel (INTC) reportedly has reached a preliminary settlement with the Federal Trade Commission over allegations involving its sales and marketing practices
Advanced Micro Devices released Q4 earnings numbers Thursday of $1.18 billion, or $1.52 per share, topping expectations. But with much of the gains coming from a $1.25 billion settlement with Intel, and with AMD offering negative guidance for Q1 2010, stock prices dipped in after-market trading.
Advanced Micro Devices posted its first quarterly profit in three years. But the world's No. 2 maker of microprocessors said it would have lost money were it not for the payment it received from Intel to squash a long-running antitrust battle.