Seagate Technology, the disk drive manufacturer based in the Cayman Islands with operations in Scotts Valley, said Wednesday it will move trading in its shares from the New York Stock Exchange to the Nasdaq market as of Sept. 16, according to a press release the company put out Wednesday.
“We are delighted to make the move to the NASDAQ and look forward to leveraging their impressive trading platform to reach investors in key markets around the world,” said Bill Watkins, Seagate CEO. “With this move we are ensuring that our investors have access to fast, high-quality trades in a more cost-effective structure for Seagate. We look forward to joining the impressive group of leading technology companies already listed on the NASDAQ.”
The company will retain its current ticker symbol — STX — rather than switch to the more-usual four-lettered symbols had by most companies trading on Nasdaq.
San Jose storage supplier Quantum said it dismissed Ernst & Young as its principal independent accountant last Friday and hired PricewaterhouseCoopers to replace them, according to a regulatory filing Wednesday.
Quantum cited no reason for the change, and said that none of its financial statements over the past two fiscal years contained any adverse opinion from Ernst & Young.
Last week, Stanford Au, the senior vice president of technology at Shutterfly, notified the company that he is quitting the Redwood City photography Web site effective Sept. 5, according to a regulatory filing Wednesday afternoon. Shutterfly shares fell 16 cents, or 1.6 percent, in after-hours trading.
Shareholders of Credence Systems, the Milpitas maker of semiconductor design-and-testing gear, and its competitor LTX of Norwood, Mass., are set to vote Thursday on the proposed merger of the two companies.
On Monday, holders of Credence’s 3.5% Convertible Senior Subordinated Notes due 2010 threw the company a curveball after they sent Credence a letter saying that the proposed merger would “constitute a change of control” requiring Credence to “offer to repurchase all of the outstanding Notes (due in 2010) at 100% of the principal amount thereof plus accrued and unpaid interest,” according to an SEC filing Tuesday.
Credence and LTX are now “reviewing and considering the positions taken in the letter” but assured investors that the $156 million it holds in cash and cash equivalents, combined with $71.5 million held by LTX would be sufficient to meet its obligation, if the merger is found to be a change of control.
Immersion will pay a $20.75 million one-time payment to Microsoft to settle breach-of-contract charges the software giant brought against the San Jose developer and licensor of touch feedback technology in June 2007.
Microsoft alleged that Immersion breached a sub-license agreement executed in connection with the settlement in 2003 of Immersion’s claims of patent infringement against Microsoft in Immersion v. Microsoft, Sony. Microsoft maintained it was entitled to Read the rest of this entry »
Posted by Chris O'Brien on August 26th, 2008 at 7:00 am | Categorized as 1
Okay, so I’m no doubt the last person in Silicon Valley to discover “case modding.” But stumble across it I did at Nvision 2008 this week. Among the thousands of folks who attended the visual computing conference, there were many who had either modified or built from scratch elaborate casing for their PCs. Here’s a slideshow of some of my favorites:
VeriFone holdings, the electronic payment systems provider that last week lopped off $70 million worth of previous profits when it restated results of several quarters since fiscal 2007, named two new directors to its board, raising the size of the board from eight to ten directors. Both will serve on the board’s audit committee.
Electronic Arts and Take-Two Interactive, the maker of the popular Grand Theft Auto video games that EA tried unsuccessfully to buy prior to removing its bid for the company last week, signed a “confidentiality agreement” that prohibits both companies from “publicly disclosing the status or terms of any discussions or negotiations between EA and Take-Two unless EA or Take-Two notifies the other that it is terminating discussions.”
When LSI purchased Agere Systems in 2007, it agreed to maintain roughly the same benefits to former Agere executive for a period of two years with a plan to have a unified perquisite program for all executive officers in 2009.
However, last week LSI agreed to extend special benefits for an additional year for one former Agere executive, Andrew Micallef, who now serves as LSI’s executive vice president in charge of worldwide manufacturing, according to a filing today with the SEC. The benefits are related to his location in Singapore and are “intended to allow individuals receiving its benefits to work in a country other than their home country and experience a similar standard of living to what they could experience in their home country.”
Avistar Communications got a letter from the Nasdaq stock market last week telling the company that it is back in compliance with the rule requiring companies it lists to have a minimum stock price of $1 a share.
Seagate Technology, the disk drive manufacturer based in the Cayman Islands with operations in Scotts Valley, said Wednesday it will move trading in its shares from the New York Stock Exchange to the Nasdaq market as of Sept. 16, according to a press release the company put out Wednesday.
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