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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 He has been replaced by interim CEO Ross Levinsohn, an executive who has been with Yahoo since 2010.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
07/09/201416:39:46TECH STOCKS: Cisco, Facebook Edge Higher; Micron Slips
07/08/201400:30:50New Tech Group Joins Crowded Field to Set Rules for 'Internet...
06/18/201416:59:15Jabil Circuit Swings to Third-Quarter Loss on Restructuring Costs
06/17/201409:24:35Cisco to Buy Swedish Tail-f Systems for $175 Million
06/10/201416:51:30TECH STOCKS: Apple, EBay Diverge In Mild Tech Trading
06/10/201416:36:10TECH STOCKS: Apple Inches Upward; EBay Falls
05/27/201414:49:13TECH STOCKS: Apple Gains Lead Rise In Tech Stocks
05/26/201420:14:59Canada Offers Incentives to Lure Startups Across the Border
05/22/201413:12:52TECH STOCKS: H-P, JD.com Rally; Twitter, Microsoft Fall
05/22/201409:21:22China Vows Tougher Scrutiny of Online Technology
05/21/201416:25:03TECH STOCKS: Salesforce, EBay Slip, But Techs Edge Higher
05/20/201416:37:34TECH STOCKS: Netflix, Amazon Gains Fail To Lift Techs
05/20/201410:57:47TECH STOCKS: Netflix, Amazon, Yahoo Gains Fail To Lift Techs
05/19/201421:28:22Cisco Unveils Desktop and Cloud Video Offerings -- 2nd Update
05/19/201417:38:08Cisco Unveils Desktop and Cloud Video Offerings--Update
05/15/201417:19:23MARKET SNAPSHOT: U.S. Stocks Fall; S&P 500, Dow Worst Decline...
05/15/201413:56:42MARKET SNAPSHOT: U.S. Stocks Sell Off; Dow In Triple-digit Loss
05/15/201410:52:58TECH STOCKS: Cisco Jumps, But Apple, Facebook Stumble
05/15/201408:47:08U.S. Hot Stocks: Hot Stocks to Watch
05/14/201418:51:27Cisco Sounds Upbeat Notes Amid Revenue, Profit Dip--6th Update

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