March 13, 2007 |
Billionaire shareholder activist Carl Icahn increased his stake in Motorola Inc. and started a proxy fight for a board seat after demanding that the mobile phone maker return more of its cash to investors. Icahn, who owns 2.5% of the stock, submitted proxy materials for the Schaumburg, Ill.-based company's May 7 shareholder meeting in a regulatory filing. Motorola is reviewing the statement, a spokesman said.
March 6, 2007 |
Motorola Inc. may be preparing for a fight to keep billionaire activist Carl Icahn off its board. "Mr. Icahn's nomination has not been endorsed by your board of directors," the company said March 2 in its notice for the 2007 shareholder meeting. "We urge stockholders not to sign any proxy card that you may receive from the Icahn entities." The comments suggest that Motorola may stand up against Icahn as he presses Chief Executive Ed Zander to use all of the company's $11.
January 20, 2007 |
Motorola Inc. said Friday that it would cut 3,500 jobs and take other steps to reduce costs after misjudgments on pricing and sales forecasts for its high-end phones contributed to its least profitable quarter since 2004. The move came as the world's No. 2 cellphone maker reported a 48% decline in fourth-quarter earnings, to $624 million, on a steep drop in profitability in the handset business.
January 9, 2007 |
Motorola Inc. may face a fine of as much as $100 million for allowing expert witnesses to read trial transcripts before testifying in a $10-billion trade-secret case that ended in a hung jury, a judge said. State Circuit Judge Leroy Moe in Fort Lauderdale, Fla., reserved his ruling on a fine while refusing to grant SPS Technologies Corp. outright victory on its claim that Motorola stole its idea for a vehicle-tracking system. Two witnesses for Schaumburg, Ill.
January 6, 2007 |
Motorola Inc.'s two-year resurgence in the global cellphone market appeared to be in trouble Friday after the company warned of disappointing sales and earnings from the key holiday selling season. Investors sent Motorola stock down sharply amid a consensus that the trendsetting Razr had lost its buzz in the marketplace and that Motorola's efforts to come up with a new killer product have so far not paid off, hindered by stiffening competition.
December 28, 2006 |
The Federal Trade Commission signed off on Motorola Inc.'s $208-million purchase of Netopia Inc., a maker of high-speed Internet modems and software, after an antitrust review to ensure that the acquisition wouldn't be anti-competitive, according to the agency's website. Motorola, the biggest U.S. maker of cable-television set-top boxes, agreed in November to buy Emeryville, Calif.- based Netopia. The deal is part of a larger effort by Schaumburg, Ill.
October 18, 2006 |
Motorola Inc., the world's second-largest cellphone maker behind Finland's Nokia Corp., reported a 45% decline in third-quarter profit Tuesday on revenue that came in well below analysts' expectations. The earnings met Wall Street's estimates, but sales of Motorola's Razr phones left total revenue nearly half a billion dollars lower than forecast. Earnings for the July-through-September period were $968 million, or 39 cents a share, down from $1.75 billion, or 69 cents, a year earlier.
September 20, 2006 |
Motorola Inc. said Tuesday that it would acquire Symbol Technologies Inc. for about $3.9 billion in a deal that expands the world's second-largest cellphone maker's presence in the market for business-oriented mobile devices. The deal for Symbol, which makes portable bar-code scanners and customized hand-held computers, is expected to close this year or early in 2007, pending regulatory clearance and approval by Symbol shareholders, company executives said.
June 7, 2006 |
Mobile phone maker Motorola Inc. sued scooter maker Razor USA in a dispute over use of the "Razr" name. Razor is objecting to Motorola's plans to use the "Motorazr" trademark after a two-year license for the Razr name expires in October, according to the lawsuit filed in Delaware Chancery Court. Motorola says it has permission to make the switch. Representatives at closely held Razor, based in Cerritos, weren't available to comment.
January 20, 2006 |
Motorola Inc., the world's second-largest maker of cellphones, rode the continuing momentum of its hot-selling Razrs to an 86% jump in fourth-quarter income. The earnings reported Thursday topped Wall Street estimates, but revenue and handset shipment totals came in just shy of expectations, sending shares of the Schaumburg, Ill.-based company tumbling in after-hours activity after a 3% increase during the regular trading session. Net income for the October-through-December quarter was $1.