NVidia May Face NASDAQ De-listing
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Having failed to file its quarterly 10-Q statement for its last fiscal quarter within the designated window of time, GPU producer nVidia yesterday acknowledged it had received a letter from the NASDAQ stock exchange, probably warning the company it faced possible de-listing.
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The PC card company is way off its peak, but the stock appears to be a risk rather than a value.
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Graphics chip maker Nvidia found some irregularities in past stock-based compensation practices during an internal probe, and took a total of $127 million in non-cash charges over associated expenses, the company said Wednesday.ADVERTISEMENTNEW IT SERVICES FROM IBM: EASIER TO BUY AND IMPLEMENTDiscover a simpler, more cost-effective way to get the solutions your company needs to grow more flexible and efficient.
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(InfoWorld) - Graphics chip maker Nvidia found some irregularities in past stock-based compensation practices during an internal probe, and took a total of $127 million in non-cash charges over associated expenses, the company said Wednesday. The figure fell within theÂ $150 million chargeÂ Nvidia said it might have to take. The company also amended financial results for its fiscal year 2006 and the first two quarters of 2007 as a result of the internal probe. The non-cash charge and amendments to previous financial statements ends its internal probe, but an inquiry by the Securities and Exchange Commission (SEC) remains ongoing, Nvidia said. The restated earnings reports did not have a material impact on Nvidia's operating results, it said. The company plans to cooperate fully with the SEC. A number of technology companies have launched reviews over stock-based compensation to employees, finding instances in which stock options have been dated back to a time when the stock had hit a low. The practice is unfair to shareholders and was made almost impossible to legally execute by Sarbanes-Oxley, and for good reason. Stock options were designed as a way for employees to share in the success of the company and give them an added incentive. But by back-dating the options, employees -- often executives -- were essentially given shares that were already valuable. So far, stock options probes, carried out either by companies themselves or by the SEC, have affected over 160 companies.Â Investigations at memory chip developer RambusÂ andÂ security software vendor McAfeeÂ  have led to the resignation or firing of top executives.Â Apple ComputerÂ could be kicked off the Nasdaq by Dec. 29 if it fails to submit its SEC Form 10-Q for the quarter ended 1 July 2006, and any required restatements linked to its stock options probe by that time. Other companies have faced shareholder lawsuits over the issue.
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Nasdaq Stock Market Inc. struck a complex deal to sell a 20-percent stake to the state-owned Borse Dubai in return for control of Sweden's leading stock market, but the plan met with some questions from U.S. politicians concerned it would raise security issues.
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Reaction to AMD acquisition? Investors who argue that AMD should sell off its ATI discrete graphics operation will take heart from market research published today which shows the chip maker's GPU division saw its market share fall in all segments during Q3.â¦
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Some investors may think a buyout lies ahead for NovaStar Financial.
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Japan&#39;s NEC Corp (6701.T) said on Friday  its ADRs would likely be delisted from the Nasdaq exchange as  it could not file a report or restate results to standards  required by the U.S. Securities and Exchange Commission.
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We're delistening Accounting laggard Dell has received a delisting warning from Nasdaq officials.â¦
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The Nasdaq says it may work with a group planning a rival  trading platform if its London Stock Exchange bid fails.
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Nasdaq  may sell its stake in the London Stock Exchange  to Borse Dubai and make a joint bid with the Gulf exchange for Nordic exchange owner OMX , The Daily Telegraph said on Monday.
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Blog: Failure to file quarterly earnings reports while the company investigates possibly refiling over accounting errors has resulted in a repeat notice of possible NASDAQ delisting.
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NYSE Euronext  and  Australia&#39;s ASX Ltd  may be interested in buying part  of Nasdaq Stock Market Inc&#39;s  31 percent stake in  London Stock Exchange Plc , a person familiar with the  matter said on Monday.
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A board member of US media giant Dow Jones may face civil action over breaches of securities laws.
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A bidding war may be under way for the struggling maker of trading cards.
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U.S. Securities and Exchange Commission (SEC) reporting rules that govern listed companies are too much for Creative Technology, which has renewed plans to delist its shares from the Nasdaq stock exchange.
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(InfoWorld) - Following its bankruptcy filing, The SCO Group may be booted off of the Nasdaq stock exchange as early as next week, the Unix vendor said Wednesday. The stock exchange informed SCO on Tuesday that "the Company's securities will be delisted from Nasdaq on September 27, 2007, pending an appeal," SCO said in a statement . This comes as a result ofÂ SCO's recent filing for Chapter 11 bankruptcy protection,Â the companyÂ said. SCO has asked for a hearing to appeal the decision, so it may be able to stave off delisting if it can present the Nasdaq's Listing Qualifications Panel -- a group of independent industry experts -- with a viable business plan, said Wayne Lee, a Nasdaq spokesman. The delisting notice is the latest in a series of bad news for the company, stemming from its August 10 legal defeat to Novell. In a series of rulings,Â a federal judge found that Novell and not SCO owned copyright to the Unix operating system. In addition to putting SCO in a position where it may have to pay millions of dollars in compensation to Novell, the ruling also underminedÂ SCO's legal battle with IBM, which relates to IBM's support of the Linux operating system. "As a result of both the Court's August 10, 2007, ruling and the Company's entry into Chapter 11, there is substantial doubt about the Company's ability to continue as a growing concern," SCO said in its most recent U.S. Securities and Exchange Commission filing. SCO's stock (SCOX) has been pounded since August 10, when it opened at $1.49. On Wednesday it closed at $0.20.