Robert Cyran, U.S. tech columnist, joined Breakingviews in London in 2003 and moved four years later to New York, where he continues to cover global technology, pharmaceuticals and special situations. Robert began his career at Forbes magazine, where he assisted in the startup of the international version of the magazine. Before working at Breakingviews he worked as a market researcher and reporter covering the pharmaceutical industry. Robert has a Masters degree in economics from Birmingham University and an undergraduate degree from George Washington University. Follow Rob on Twitter @rob_cyran
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The internet company’s 28 pct Q1 sales increase is impressive, but more still are its prodigious and growing earnings from selling digital services. Amazon’s lowly margin remains a long way from justifying its $280 bln valuation, but it is finally looking less like a retailer.
It’s buying medical-device maker St. Jude at a $6.5 bln premium. Cost cuts cover less than half that, and earnings accretion doesn’t make it a good deal. Abbott’s value tumbled over $5 bln. Shareholders may recall that the target’s namesake is the patron saint of lost causes.
The troubled internet firm has agreed to appoint four of the activist investor’s nominees to its board. Starboard founder Jeff Smith’s addition to the committee exploring a deal is the most notable development. A slow and desultory process just received a long-overdue kick.
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