MOUNTAIN VIEW, Calif.—VeriSign Inc. confirmed it received a grand jury subpoena requesting documents related to the company’s stock-option grants and practices. The company is the latest in a growing list of wireless firms that have been caught up in a nationwide investigation into executive...
SUNNYVALE, Calif.—Palm Inc. said it will pay Xerox Corp. $22.5 million to settle a 9-year-old patent infringement lawsuit over handwriting-recognition technology. Xerox filed the lawsuit in 1997, claiming Palm’s "Graffiti" software infringed on Xerox’s "Unistrokes" patent, which covers one-stroke symbols. Xerox won an initial...
AUSTIN, Texas—Fabless semiconductor company PulseWave RF Inc. said it raised $30 million in its third funding round. Oak Investment Partners led the round, and existing investors Austin Ventures, Bay Partners and Genesis Campus also participated.PulseWave said it plans to use the funding to commercialize...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News.CarrierR.W. Baird lowered its rating on Sprint Nextel Corp. to neutral from outperform...
ALAMEDA, Calif.—UTStarcom Inc. reported a net loss for the first quarter of 2006 of $10.6 million, or 9 cents per share, a reversal from the net profit of $37 million the company reported during last year’s first quarter. In addition, sales for the first...
WASHINGTON—Motient Corp.’s largest shareholder filed a new lawsuit against the wireless company, alleging in a Texas court that a recent transaction involving mobile satellite service ownership changes violates federal securities law. "Highland is certainly willing to consider strategic transactions that directly benefit shareholders, but...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News. CarrierStandard & Poor’s Ratings Services raised its short-term rating on Qwest Communications International...
TORONTO—Nortel Networks Corp. said it will offer $2 billion in senior unsecured notes. The company said it plans to use $1.3 billion of the net proceeds of the offering to repay the company’s one-year credit facility. The rest, Nortel said, would go toward "general...
VIENNA, Va.—MobileAccess Networks said it secured $11 million in a financing round led by private-equity firm Ziegler Meditech Equity Partners. Existing investors also participated, including HarbourVest Partners, Pitango Venture Capital and Poalim Ventures.MobileAccess said the funding will help it further penetrate the health care...
SAN DIEGO—Sequoia Communications, a fabless RF semiconductor company, said it raised $25 million in its series E round of financing. The round was led by BlueRun Ventures and included participation from Tallwood Venture Capital and Motorola Ventures. As part of the round, Rob Schwartz,...
SAN DIEGO—Qualcomm Inc. boosted its financial guidance for the third fiscal quarter ending June 25 due to what the company said was strong demand for its chips for W-CDMA handsets and CDMA network gear. The San Diego-based chip vendor said its pro forma revenues...
NEW YORK—Comverse Technology Inc. offered a glimmer of good news even as it is embroiled in a stock options investigation that forced the company to delay its most recent financial report. The company said it achieved its 14th consecutive quarter of sales growth and...
DALLAS—Texas Instruments Inc. raised its business outlook for the second quarter during a scheduled update. The company said it now expects to earn revenues from continuing operations of between $3.63 billion and $3.78 billion, up from its prior estimate of between $3.46 billion and...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News.CarrierRBC Capital Markets raised its rating on Dobson Communications to outperform from sector...
NEW YORK—Nortel Networks Ltd. has finally caught up with its financial filings after a series of restatements and delays, but the figures for the first quarter of 2006 included larger quarterly losses—$167 million—than Wall Street had predicted. The number widens the company’s losses from...
RICHLANDS, Va.—Pegasus Tower Co. Ltd., which develops and manages wireless towers, said it raised $20 million in equity financing as part of a joint venture with two investment firms. Peppertree Capital Fund L.P. and Primus Capital Fund V will fund the joint venture, while...
NEW YORK—Juice Wireless Inc. said it has snared $4 million in a funding round led by 21Ventures L.L.C. The New York-based startup said it will use the capital to market JuiceCaster, a cross-platform application that allows users to generate, publish and access content on...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News.CarrierRBC Capital Markets started coverage on Dobson Communications with a sector perform rating...
NEW YORK—AT&T Inc., CBS Corp. and H.J. Heinz Co. are among the 10 corporations with the worst credit outlooks among U.S. investment-grade bond issues, according to a report released today by Gimme Credit, a fixed-income research company. Engaging in acquisitions or battling with activist...
CHICAGO—U.S. Cellular Corp. and its parent company, Telephone and Data Systems Inc., have further delayed their year-end regulatory filings, as well as filings for the first quarter of 2006. TDS and U.S. Cellular said that the delay was due to a review of financial...
KING OF PRUSSIA, Pa.—InterDigital Communications Corp. gave second-quarter financial guidance anticipating revenue of $291million to $293 million, without forecasting net profit. The company’s revenue forecast includes a massive payment of $228 million from Nokia Corp. related to the resolution of a prior patent license...
LONDON—Vodafone Group plc posted a massive $41.1 billion loss for 2005, mainly from impairment charges over assets it acquired during the telecom boom days, but promised its investors an even larger than expected payout, which sent its stock up slightly in early trading in...
BOSTON—American Tower Corp. says it intends to "vigorously defend" its stock-option granting practices in the face of two lawsuits filed just days after the company received a subpoena from a New York district attorney. AMT said a securities class action lawsuit was filed against...
The nationwide investigation into executive stock-option grants seems to be widening daily. And some major players in wireless are coming under the microscope. At issue is the practice of retroactively changing dates stock-option grants become effective. Stock options-allowing employees to purchase shares of the...
