Thursday headlines include: EMC considering the sale of VMware, General Motors planning 40 new vehicles, Radio Shack continuing to lose money, American Airlines getting approval to replace more paper manuals with tablets and Apple hiring a marketing executive from Gap.
Tech firm EMC Corp. (EMC) is reportedly considering the sale of its stake in virtualization software firm VMware (VMW). According the New York Post, Hewlett-Packard (HPQ) could potentially be interested in VMware. EMC has long resisted a push to sell VMware from activist hedge fund Elliot Management, which has a $1 billion investment in the company.
Automaker General Motors (GM) is planning to launch 40 new vehicles in international markets including China, India, North America and Europe. CEO Mary Barra said Thursday that the automaker “Sees a lot of opportunities in India from a market perspective.”
Electronics-store chain Radio Shack (RSH) said Thursday that it lost $1.35 per share in its second fiscal quarter on revenue of $673.8 million. Same-store sales fell by 20% during the quarter. The report comes as Radio Shack is working with restructuring experts to avoid bankruptcy. The company is hoping to renegotiate with creditors and close stores as part of plan to refinance a $535 million asset-backed credit line.
Air carrier American Airlines (AAL) said Wednesday that it had been granted regulatory approval to replace paper manuals used by flight attendants with Samsung tablets, in a weight-saving plan will result in nearly $1 million savings each year. American's cockpits moved to the paperless system over a year ago. The current approval does not yet apply to U.S. Airways.
Fresh from the announcement of two new phones and a smartwatch, Apple (AAPL) is reportedly planning to hire Marcela Aguilar as director of global market communications. Aguilar currently serves in a similar role at GAP Inc. (GPS).