In enterprise tech news, cloud platform provider Akamai this week reported fourth-quarter revenue of $378 million, up 17 percent year over year; and fourth-quarter net income of $68 million, up 14 percent year over year. Akamai CEO Tom Leighton ascribed the strong results to delivery of new products across the entire breadth of the company's portfolio.
NCR shares shot to a 52-week high Friday after it reported a 3 percent sales increase, to $1.64 billion. Mainly due to remediation payments related to an environmental case, the company reported a net loss. However, the company said its full-year revenue should increase a hefty 9 percent to 11 percent. The forecast drove up shares by $1.22 to $29.18 Friday.
Dell shares rose this week after the announcement that Michael Dell has joined forces with investment firm Silver Lake to buy the company he founded as a 19-year-old in 1984, in a deal valued at about $24.4 billion. The transaction calls for Dell shareholders to get $13.65 in cash. Though the company was careful to say that it was putting a 25 percent premium on shares over Dell's closing price on Jan. 11, when rumors of a deal first appeared, some analysts said the offer was low.
Wells Fargo analyst Maynard Um for example said a fair price for a leveraged buyout would be about $15 per share, given the company's recent drab stock performance.
With Dell forecasting a close to the deal in the third calendar quarter this year, it may be a signal that it expects to face some challenges. On Friday, Dell investor Southeastern Asset Management said it won't support the buyout, marking possibly the first shot in a tough battle to close the buyout.