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Whitman Capital chief charged with insider trading

Fri, 10 Feb 2012 22:13:26 +0000

The Galleon Group insider trading case — and its Silicon Valley connections —widened on Friday. Federal prosecutors and securities regulators said insider trading charges were filed against hedge-fund manager Douglas F. Whitman, alleging he was connected to the illegal trading network of imprisoned investor Raj Rajaratnam, founder of the now-defunct Galleon Group. Whitman, president and managing member of Menlo Park-based Whitman Capital LLC, allegedly traded shares of Google Inc., Polycom Inc...

Vormetric names Tina Stewart marketing chief

Fri, 10 Feb 2012 22:03:32 +0000

(image) Data security company Vormetric Inc. on Friday named Tina Stewart as vice president marketing, reporting directly to CEO Richard Gorman. Stewart has previously led global marketing, branding and communications security and networking companies including Juniper Networks Inc., Arbor Networks Inc., and Network Associates (now McAfee Inc.). Stewart joins San Jose-based Vormetric from digital marketing platform provider Lyris Inc., where she was senior vice president of marketing. Written by Cromwell Schubarth...

LinkedIn stock soars 18 percent after strong earnings

Fri, 10 Feb 2012 21:47:19 +0000

LinkedIn Corp. stock jumped nearly 18 percent on Friday, a day after it posted strong earnings and an outlook that topped Wall Street expectations. The Mountain View online professional networking company's shares (NYSE:LNKD) traded above $91 before closing the day at $89.96. The company is still well off the heights it hit after its IPO last May, when it traded for as much as $122.70, but it is now almost double its IPO price of $45 a share. LinkedIn said on Thursday that its membership grew to more than 150 million from 131...

StudentRND aims to inspire youth interest in tech, science

Fri, 10 Feb 2012 21:35:07 +0000

(image) It’s no secret that jobs in the technology sector are often the bright spot in an otherwise gloomy economy. Tech employees – especially software engineers and those in the mobile and gaming space – are in high demand, with companies offering big bucks and major perks to lure talent. It’s also no secret that the U.S. is lagging behind other countries when it comes to preparing our children for entering the fast-paced, ever-changing world of technology and science. But there’s a new organization – for students, run by students – in Bellevue that wants to get more local youth interested in these fields...

Ruckus Wireless raises $21.7M

Fri, 10 Feb 2012 21:28:09 +0000

(image) Ruckus Wireless Inc. said in a regulatory filing on Friday that it raised about $21.7 million of a $25 million round of funding. The Sunnyvale wireless networking company descibed the offering as being Series G Preferred Stock and the underlying shares of Common Stock issuable upon conversion of Series G. It didn't say who participated in the round but Gaurav Garg of Sequoia Capital was listed on the Form D. Others listed were CEO Selina Lo, George Antoun, Mohan Gyani, James Hennessy, William Kish and Victor Shtrom, all listing Ruckus Wireless' address...

Introducing the newest AlphaLab startups

Fri, 10 Feb 2012 21:23:51 +0000

(image) It was another round of coffee-fueled networking on the South Side and the informal unveiling of the latest class of startups to take up residence in AlphaLab. The six startups have been in the accelerator for the past five weeks, and it's a pretty diverse group with everything from gaming, to disease diagnostics, to an insurance rate comparison tool. They will be furiously working on prototypes, gathering beta testers and securing customers from now until Demo Day, which will likely happen sometime in May, but we’ll give you more about that when it gets closer...

Amtech Systems reports 1Q loss; revenue down 54%

Fri, 10 Feb 2012 21:09:51 +0000

Amtech Systems Inc. reported a first-quarter loss on a 50 percent drop in revenue as its products fell victim to the solar industry’s oversupply and downturn. Tempe-based Amtech (Nasdaq: ASYS), which makes equipment for the semiconductor and solar industries, reported a loss of $876,000, or 9 cents per share, for its first fiscal quarter ended Dec. 31, compared with a profit of nearly $5 million for the year-earlier period. The company’s revenue plunged from $53.7 million in first-quarter 2011 to $24...

Baltimore files $9M suit against Unisys over tax system

Fri, 10 Feb 2012 20:49:03 +0000

The city has filed a $9 million lawsuit against Unisys Corp., alleging the company never completed a new property tax computer system the city spent millions on. The suit claims that the Blue Bell, Pa., company entered into a $7.1 million contract with the city in 2002 to create an “integrated property tax system.” The city says it paid Unisys (NYSE: UIS) $8.5 million over the next nine years despite the fact that Unisys never finished the system, the suit says. "Unisys has a strong case against the claims and we intend to litigate the matter vigorously," said Brad Bass, a spokesman for the company...

Facebook up 10% since IPO filing, valued over $100B

Fri, 10 Feb 2012 20:36:55 +0000

(image) The value of Facebook Inc.'s private shares have jumped by 10 percent since it filed for an initial public offering last week, giving it an estimated valuation of more than $100 billion. That market valuation is higher than a number of more established technology giants, such as Hewlett-Packard Co. (NYSE:HPQ), which has a market cap of about $58 billion. But Facebook, which operates a data center in Prineville, is far behind the most valuable public company in the world, Apple Inc. (NASDAQ:AAPL)...

Flir's Q4 profits rise as sales fall

Fri, 10 Feb 2012 20:27:31 +0000

(image) Flir Systems Inc. on Friday said fourth-quarter profit grew 9 percent to $76.1 million despite sales falling by 7 percent. The Wilsonville-based maker of infrared cameras and systems earnings easily beat Wall Street estimates, though it fell far short on revenue expectations. For the quarter, Flir (NASDAQ: FLIR) generated a profit of $76.1 million, or 48 cents per share, on $405.2 million in sales. A year earlier, it had a profit of $69.8 million, or 43 cents per share, on $437.5 million in sales...

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