News provided by YAHOO.com
Facebook to join S&P 500
(Reuters) - Standard & Poor's on Wednesday said Facebook Inc will join its S&P 500 stock index after the close of trading on December 20, cementing the social media network's rise into one of the biggest, most powerful U.S. companies. The decision follows Facebook reporting its fourth straight profitable quarter in October, one of the criteria that S&P uses to determine eligibility for the index. Facebook shares rose 4.3 percent to $51.51 following S&P's announcement after regular market hours. S&P said on December 20 it will also add marketing solutions company Alliance Data Systems Inc and floor covering company Mohawk Industries Inc to the S&P 500, and remove Abercrombie & Fitch Co, JDS Uniphase Corp and Teradyne Inc. Facebook will also replace Williams Cos in the S&P 100 index of large U.S. companies.
Wed, 11 Dec 2013 17:56:39 -0500
Microsoft says Xbox One global sales top 2 million
By Malathi Nayak SAN FRANCISCO (Reuters) - Microsoft Corp has sold more than 2 million Xbox One video game consoles since its November 22 launch, catching up with rival Sony Corp's PlayStation 4 released a week earlier. The U.S. software giant on Wednesday said it took 18 days for Xbox One's global sales to surpass 2 million - a new company record. Japan's Sony last week said it took 15 days for PS4 sales to cross 2.1 million. The Xbox One, on sale in 13 countries, is selling quicker than its predecessor, the Xbox 360, and is sold out at most retailers, said Microsoft Xbox spokesman David Dennis.
Wed, 11 Dec 2013 14:14:13 -0500
Cisco loses court challenge to Microsoft's takeover of Skype
By Michele Sinner LUXEMBOURG (Reuters) - Microsoft fended off a challenge to its $8.5 billion takeover of messaging service Skype as Europe's second-highest court ruled against claims by rival Cisco that the 2011 deal would harm competition. The decision on Wednesday means Microsoft can continue to market Skype's video calls to consumers and businesses without making any concessions to Cisco or others offering similar products. Cisco's concern about the Skype deal stems from the fact it sells more expensive hardware to help companies with video conferencing, while Microsoft's alternative, based on Skype, can do much the same via a computer equipped with a webcam.
Wed, 11 Dec 2013 17:00:48 -0500
Yahoo blames ongoing email disruption on tricky hardware problem
By Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc's email service has been unavailable to some users since Monday night due to a "hardware problem" that the Internet company said has been harder to fix than it expected. Yahoo believes the problem will be fixed by 3 p.m. PST Wednesday, according to a post on Yahoo's official Tumblr blog by the company's senior vice president of communications, Jeffrey Bonforte.
Wed, 11 Dec 2013 14:54:52 -0500
Verizon takes hard line on surveillance vote: activists
By Ross Kerber BOSTON (Reuters) - Verizon Communications Inc told activists it may skip a vote on a shareholder proposal that seeks details on the company's cooperation with government surveillance efforts. Verizon's law firm Jones Day said in a November 25 letter that the company would exclude the measure from its 2014 proxy statement unless the activists did more to verify their eligibility to file the proposal. The company's response appears to be more aggressive than the stance AT&T Inc took against a similar proposal, said Jonas Kron, senior vice president for Trillium Asset Management, a co-filer of the measures at both telecommunications giants. Kron said Trillium has provided more detail, but that Verizon's action suggests it will sidestep the usual process in which companies ask the U.S. Securities and Exchange Commission for permission to skip votes on shareholder proposals.
Wed, 11 Dec 2013 16:52:55 -0500
Copyright (c) 2013 Yahoo! Inc. All rights reserved