June 23, 2011 |
Square, the mobile payments start-up from Twitter Inc. co-founder Jack Dorsey, has added former Treasury Secretary Lawrence H. Summers to its board of directors. Until late last year, Summers served as President Obama's chief economic advisor. He was president of Harvard University from 2001 to 2006 — while Facebook founder Mark Zuckerberg was a student. The San Francisco payments processor — known for its small, white, cubed credit card readers that plug into the headphone jacks of smartphones and tablets in place of a register — added an extra seat to its board for Summers.
February 9, 2011 |
Facebook Inc. is moving its headquarters from Palo Alto to the nearby former home of Sun Microsystems in Menlo Park. David Ebersman, Facebook's chief financial officer, announced the move Tuesday in a news conference at the 57-acre Menlo Park property. Facebook signed a 15-year lease for the Menlo Park campus with the option to buy it in five years, according to a company spokeswoman who asked that she not be named because she was not authorized to speak on the details of the lease.
August 29, 2009 |
Sun Microsystems Inc., the server-computer maker selling itself to Oracle Corp., reported a $147-million loss in the fiscal fourth quarter. The loss of 20 cents a share compared with a profit of $88 million, or 11 cents, a year earlier, the Santa Clara company said. Revenue dropped 31% to $2.63 billion. Excluding some items, Sun had a loss of 3 cents a share, beating the average 9-cent loss estimate of analysts surveyed by Bloomberg. Analysts had projected sales of $2.69 billion.
April 6, 2009 |
IBM Corp. withdrew its offer to buy Sun Microsystems Inc. for about $7 billion this weekend, clouding the prospects for a deal that would have shaken up the computing industry, two people familiar with the situation said Sunday. Talks were in their final stages in recent days, but IBM took its offer off the table after Sun terminated IBM's status as its exclusive negotiating partner, said the people, who spoke on condition of anonymity because they were not authorized to disclose the talks.
August 2, 2008 |
Sun Microsystems Inc. said that profit fell 73% last quarter and that it didn't expect to make money this quarter as customers of its server computers cope with an economic slump. Net income for the April-to-May fiscal fourth quarter fell to $88 million, or 11 cents a share, from $329 million, or 36 cents, a year earlier, Santa Clara, Calif.-based Sun Micro said. U.S. sales, which accounted for more than a third of revenue, fell 9.4%. Revenue dropped 1.4% to $3.78 billion.