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Tag - Goldman Sachs
Apple CEO Tim Cook will again be a speaker at this afternoon's Goldman Sachs Technology and Internet Conference, taking place in San Francisco. Cook will be among numerous tech company speakers, including executives from Seagate, NetApp, SanDisk, AMD, ZenDesk, and Jive Software, among others. Cook will address the conference at 12:30PM PT (3:30PM ET) today, and the audio stream is being carried live by Apple on its investor web page.
A Goldman Sachs contractor sent an email containing confidential information to the wrong email account, causing the investment company to contact Google over its removal. After a Google representative told Goldman Sachs that it requires a court order to do so, the company filed a complaint with the Supreme Court of New York requesting that Google delete or retrieve the email. The company further asks for any information pertaining to its access.
Apple's chief financial officer, Peter Oppenheimer, has joined the board of directors for financial firm Goldman Sachs, according to the latter's website. The appointment won't affect Oppenheimer's status at Apple, but is somewhat unusual in that the position isn't related to product interests. CEO Tim Cook, for example, is the on the Nike board; Internet head Eddy Cue is on the board of Ferrari, which was recently announced as a CarPlay partner.
BlackBerry founders Mike Lazaridis and Doug Fregin are reportedly considering a takeover bid for the company, according to a Securities and Exchange Commission filing submitted Thursday. The pair, which together already hold an eight-percent stake, have teamed with Goldman Sachs and Centerview Partners to "explore the possibility of submitting a joint bid" to buy the rest of the outstanding shares.
Embattled BlackBerry maker Research In Motion saw its stock jump slightly this week as investment bank Goldman Sachs expressed confidence in RIM's ability to return to profitability on the back of its forthcoming BlackBerry 10 operating system and devices. RIM shares closed at $11.60 on Friday, up 0.52 percent for the day and up significantly from their close on Wednesday. On Thursday, shares had jumped as much as four percent in light of Goldman's prediction. Overall, shares of RIM are up nearly 80 percent since late September.
The imbroglio over Facebook's initial public offering continued today with the announcement of a class-action lawsuit alleging wrongdoing on the part of Facebook and its underwriters. The lawsuit, filed in Manhattan federal court, claims that Facebook, Morgan Stanley, Goldman Sachs, and JPMorgan Chase, among others, misled investors and caused them to lose more than $2.5 billion in the wake of the IPO. As Bloomberg reports, the plaintiffs have yet to specify the amount sought for damages. The case comes in the wake of the revelation yesterday that the Securities and Exchange Commission will be looking into the Facebook IPO to determine whether some investors received privileged information ahead of the opening.
Nokia's plans to shed its Vertu brand have reportedly come closer after a leak [free reg. required]. Uncredited tips to the FT had one of Nokia's Finnish neighbors, private equity firm Permira, reportedly in talks to buy the luxury phone badge for about €200 million ($264.9 million). A competing equity group, EQT, had discussed the idea at one point but would have stalled.
A pre-trial hearing Friday over insider trading has leaked word that at least one Goldman Sachs member is known to have been leaking information about Apple and Intel. A wiretap of an as yet unnamed person at the company overheard "substantial evidence" of someone other than the accused Rajat Gupta who was guilty of leaking insider info, the latter's attorney Gary Naftalis said. He argued that it was this unnamed person who should be on trial and not Gupta.
Apple chief Tim Cook's turn at Goldman Sachs' technology conference saw him at once pragmatic and critical of Amazon's Kindle Fire. He suspected that Amazon both had and would "sell a lot of units" and that it may have carved out a niche, since it was "different kind of competitor" with different advantages. However, he disputed the idea that the $199 price was the only factor and suggested that some buyers might be soured on the Kindle Fire and its kind after using it.
Facebook's long-rumored initial public offering (IPO) of stock could be filed as soon as Wednesday if a new leak proves real. The share plans seen by the Wall Street Journal would most likely be underwritten by Morgan Stanley with help from Goldman Sachs. At $75 billion to $100 billion of expected value, it would be one of the most valuable IPOs to date.