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Loeb's Third Point Registers Apple, Google, Cisco Stakes

By John Letzing Of DOW JONES NEWSWIRES SAN FRANCISCO (Dow Jones) -- Third Point LLC, the hedge fund that recently won a proxy battle for further control of embattled Internet firm Yahoo Inc. (YHOO), has turned its attention to other large tech firms recently. In a regulatory filing Tuesday, Third Point, which is run by Dan Loeb, registered the ownership of slightly more than 360,000 shares of Apple Inc. (AAPL) in the quarter ended in March. Third Point also reported holding 280,000 shares of Internet search heavyweight Google Inc. (GOOG) in the period, and 5 million shares of networking gear maker Cisco Systems Inc. (CSCO) None of the stakes in tech majors had been disclosed in Third Point's previous ownership filing in February. Third Point has been embroiled in a nasty contest with the board at Yahoo for added control of the troubled company. That contest ended over the weekend, when Yahoo announced that its CEO Scott Thompson was stepping aside and that Loeb and two of his nominees will be added as board members. Third Point, which owns a roughly 6% stake in Yahoo, had flagged an inaccuracy in Thompson's academic record included in the company's regulatory filings. Yahoo stated he had earned a bachelor's degree in accounting and computer science, though he only had an accounting degree. In the wake of that revelation, Thompson agreed to resign and has left the company with no severance pay. He has been replaced by interim CEO Ross Levinsohn, an executive who has been with Yahoo since 2010. -By John Letzing, Dow Jones Newswires; 415-765-8230; john.letzing@dowjones.com

Stock News for Cisco Systems (CSCO)
DateTimeHeadline
05/23/201310:55:02TECH STOCKS: H-P A Big Gainer As Other Techs Trim Losses
05/22/201317:53:15MARKET SNAPSHOT: U.S. Stocks Drop On Fed Tapering Worries
05/22/201316:37:47TECH STOCKS: NetApp, Apple Rise; Cisco, Microsoft Slide
05/22/201310:38:02TECH STOCKS: NetApp, Apple Rise; Microsoft, Oracle Slide
05/20/201314:31:09MARKET SNAPSHOT: U.S. Stocks Slip After Hitting All-time Highs
05/20/201312:58:51MARKET SNAPSHOT: U.S. Stocks Grind Higher To All-time Highs
05/20/201310:11:52MARKET SNAPSHOT: U.S. Stocks Waver; Deal News, Fed In Focus
05/16/201317:22:41TECH STOCKS: Cisco Surge Fails To Sustain Tech Rally
05/16/201316:59:31MARKET SNAPSHOT: U.S. Stocks Halt Record Run On Fed Talk
05/16/201316:48:41TECH STOCKS: Cisco Surge Ignites Tech Rally; AMD Slides
05/16/201315:46:14MARKET SNAPSHOT: U.S. Stocks In Mild Retreat From Record Highs
05/16/201314:52:30MARKET SNAPSHOT: Cisco's Big Gain Underpins U.S. Stocks
05/16/201312:07:22Cisco Systems Shares Hit Multi-Year Highs as Demand Improves
05/16/201312:04:02MARKET SNAPSHOT: U.S. Stocks Little Moved, But Cisco Rallies
05/16/201311:10:14MARKET SNAPSHOT: U.S. Stocks Slip, But Cisco Softens Slide
05/16/201310:59:25TECH STOCKS: Cisco Sparks Networking Rally, AMD Falls
05/16/201309:25:32U.S. HOT STOCKS FUTURES: HOT STOCKS TO WATCH
05/15/201317:46:31TECH STOCKS: Google Jumps As I/O Kicks Off; Apple Slides
05/15/201317:00:16Cisco Net Up 14% on Services Sales Growth
05/15/201316:55:03Cisco 3rd-Quarter Net Up 14% on Services Sales Growth

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