News Update

Freescale, was taken private in 2006 in a $17.6 billion deal. The company plans to use funds from the IPO to pay down debt due in 2014.

Citigroup shares are down 0.7%, or $0.04, to $4.86. Deutsche Bank's US traded shares are up 0.2% to $61.25.

Freescale Semiconductor, which is owned by private equity firm Blackstone Group (BX), has reportedly hired Citigroup (C) and Deutsche Bank (DB) to handle its initial public offer, reports Bloomberg, citing three people familiar wi

Intel said it found a design issue in a recently released support chip, the Intel 6 Series, code-named Cougar Point, and has implemented a silicon fix.

HP shares are up 0.47%, or $0.22, to $46.74.

Hewlett-Packard (HPQ) shares are up fractionally after Bloomberg reported that the computer products company said the availability of certain machines will be "impacted" by the chip design flaw that Intel announced Monday.

Verizon is the second US operator to have the iPhone, which, heretofore, has been carried on AT&T's (T) wireless network.

Apple shares are down 0.3%, or $1.19, to $343.89. "

"Shares of Apple (AAPL) are higher after the company said that it will begin online sales of its iPhone for the Verizon (VZ) network on Feb. 9, according to reports. That is a day before the device is schedule to hit store shelves

Time Warner Cable will acquire the provider of enterprise-class hosting, managed application, messaging and cloud services, for $5.50 per share in cash, or a total equity value of approximately $230 million.

Shares hit a 52-week high of $5.44 and were last at $5.43."

"NaviSite, Inc. (NAVI) shares opened higher, thanks to news of acquisition by TimeWarner Cable (TWC).

For 2011, the company guides for revenue of $300 mln and EPS of $1.05 per
share. The Street is at $296 mln in revenue and earnings of $1.04 per share.

Shares reached a 52-week high of $64.28 and last were at $63.30.

Acme Packet, Inc. (APKT) opened higher after reporting 2010 Q4 revenue of $70.2 mln and EPS of $0.26 per share. The Street view was $61 mln in revenue and earnings of $0.23.

Under the agreement, MCZ has the worldwide rights to manufacture, market and sell licensed, co-branded wired stereo headphones and exclusive rights to produce licensed, co-branded wireless stereo and Dolby 5.1 headphones for the X

"Mad Catz (MCZ) says it entered into an agreement with Microsoft (MSFT) to produce a range of licensed, co-branded audio headphones under MCZ's Tritton brand and MSFT's Xbox 360 brand.

Seattle Genetics (SGEN) says it priced 10 million shares at $15.50 each in a public offering. It has granted the underwriters a 30-day option to purchase up to an aggregate of 1.5 million additional shares of common stock to cover

The notes consist of $350 million of floating rate senior notes that mature in 2014 and bear interest at a rate of three-month LIBOR plus 0.41%; $450 million of fixed rate senior notes that mature in 2014 and bear interest at a ra

"Johnson Controls (JCI) announced it priced a public offering of $1.6 billion aggregate principal amount of floating and fixed rate senior notes.

The majority of his payday will come from restricted stock that was worth nearly $38 million based on HP's stock price the day it was granted in September, the AP reports.

Hewlett-Packard Co. (HPQ) is giving new CEO Leo Apotheker, 57, a $1.2 million salary, a $4 million cash signing bonus, and $4.6 million in relocation costs and reimbursement for non-compete payments from his former employer, Germa