Ford Motor Co. Chief Executive Officer Alan Mulally will stay at the automaker through 2014, Director Edsel Ford II said today, reiterating the company’s timetable. Mulally said he loves serving the automaker.
U.S. stocks rose for the week, giving the Standard & Poor’s 500 Index the longest winning streak since February, as signs of a stronger economy overshadowed concern the Federal Reserve will scale back stimulus.
U.S. stocks advanced, sending the Dow Jones Industrial Average to a record close, as Federal Reserve officials said economic weakness warrants continued stimulus and investors await data this week on jobs and growth.
Stephen Elop, a candidate to replace Steve Ballmer as Microsoft Corp.’s chief executive officer, would consider breaking with decades of tradition by focusing the company’s strategy around making the popular Office software programs like Word, Excel and PowerPoint available on a broad variety of smartphones and tablets, including those made by Apple Inc. and Google Inc., said three people with knowledge of his thinking.
Microsoft Corp., the world’s largest software maker, announced a new $40 billion stock buyback plan and increased its dividend 22 percent, seeking to reward shareholders as the company undergoes a change in strategy and leadership.
Microsoft Inc. should sell its Bing search business to Facebook Inc., a deal worth about $5 billion that would help both companies compete with Google Inc., said Rick Sherlund, an analyst at Nomura Equity Research.
Microsoft Corp. has sold about 1.5 million Surface devices, people with knowledge of the company’s sales said, a slow start in its bid to crack the fast-growing tablet market to make up for slumping personal-computer demand.
The timing of Microsoft Corp.’s agreement to acquire Nokia Oyj’s handset unit leaves activist shareholder ValueAct Holdings LP with fewer options to oppose a transaction some investors don’t favor, according to Rick Sherlund, an analyst at Nomura Holdings Inc.
Oracle Corp. dropped the most in more than nine years, dragging down other software makers, after it reported quarterly sales and profit that missed analysts’ estimates in a sign companies are spending less on programs that help them manage operations.