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According to Reuters, US investor Samuel Hyman has take an 8.8% position in the London Stock Exchange which the Nasdaq is trying to take over.
Reuters writes that Caterpillar believes that its sales in China will quadruple as a percent of its overall revenue by 2010.
Reuters reports that Microsoft says that its Office product is unlikely to be replaced by Google’s spreadsheet and word processing applications, especially among corporate buyers.
The WSJ writes that some Delta bond holders have begun to set up a group to support the US Air bid ot take over the bankrupt airline.
The WSJ reports that Dell’s profits rose 12% from a year earliers and its shares rallied over 8% after hours.
The WSJ also reports that Alcoa announced a restructuring plan that would close a plant and cut 10% of its workforce.
The WSJ also writes that the surge in takeovers is causing rumors that several companies may be taken private. These include Spint, Hilton and several of the large home building companies.
The WSJ also reports that IBM and Sun set the pace for growth in server sales in the third quarter. IBM, the No. 1 supplier of servers with over one-third of the market grew over 6%. Sun, the No. 4 supplier grew 24% according to Gartner. No. 2 supplier HP saw its sales drop 6%. No. 3 supplier Dell grew server revenue 10%. The figures also showed that Intel grew server chip share against AMD for the first time in four years.
The New York Times reports that the Microsoft link-up with Linux supplier Novell is already causing disputes and Linux licensing authorities raise concerns over the IP patent rights between Microsoft and Linux.
The New York Times also writes that the Pentagon has contracted to buy $500 million in new supercomuters from Cray and IBM.
Douglas A. McIntyre
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