Recent Articles
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Report: IT Spending Growth Expectations Lower for Second Half
IT hardware spending will likely show low single-digit growth for the second half of 2008, lower than original estimates, in the wake of weak corporate earnings and other indicators. That’s according to a report from Bernstein Research Senior Analyst A.M. Sacconaghi Jr., who said while the current consensus expectation is for 7.5 percent IT spending…
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GE Capital CDS Trade at Junk-Rating Levels
NEW YORK, Oct 1 (Reuters) – Derivatives traders were pricing General Electric Co’s (NASDAQ:GE) finance arm at junk levels on Wednesday amid worries that a deepening credit crunch is raising financing costs for the top-rated firm. General Electric Capital’s five-year credit default swaps rose by 150 basis points to 700 basis points, or $700,000 a…
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HP to Buy Storage Firm LeftHand for $360M
NEW YORK, Oct 1 (Reuters) – Hewlett-Packard Co (NASDAQ:HPQ) has agreed to buy LeftHand Networks Inc, a network storage provider, for $360 million in cash to extend its storage technology offerings for mid-sized companies. The acquisition, which is expected to close in HP’s fiscal first quarter of 2009, is subject to purchase price adjustments, HP…
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Channel Insider, OnForce Announce Strategic Partnership
Channel Insider and OnForce, the world’s largest marketplace for IT professionals, have entered into a strategic partnership to share and develop market intelligence and research tools for the IT channel community. The two companies will collaborate on co-branded research reports and other tools aimed at providing IT solution and service providers, as well as vendors,…
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The Rise of Managed Security Services
It’s truly an ill wind that doesn’t blow somebody some good. That seems to be the case with managed security services. As the overall economic environment continues to deteriorate, IT organizations appear to be becoming more amenable to buying managed security services as opposed to trying to find and hire their own dedicated security professionals.…
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Tech Stocks Rebound in Unstable Market
Technology sector stocks rebounded in Tuesday, gaining 4.6 percent on the day following the record-setting sell off on Sept. 29. Of the 50 IT vendors tracked by Channel Insider, only three (Google, Nortel and Red Hat) continued to loose ground. Despite reports that the technology sector remains healthy, industry leaders, including Microsoft CEO Steve Ballmer, have said…