Earlier this week, people familiar with the matter claimed that Brocade (BRCD) is seeking a buyer and that both Hewlett-Packard (HPQ) and Oracle (ORCL) are among its potential suitors. They said no deal is imminent, but rumor that one might be coming drove Brocade’s shares up some 15 percent.

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HP, Oracle in Alleged Brocade Bromance

“The compensation committee recognizes that Mr. Ellison has a significant equity interest in Oracle, but believes he should still receive annual compensation because Mr. Ellison plays an active and vital role in our operations, strategy and growth,” Oracle said in the filing. “Nevertheless, during fiscal 2010, Mr. Ellison agreed to decrease his annual salary to $1.”

A wise gesture from Ellison, who took a bit of flak at Oracle’s annual meeting last October after he made $543.8 million by exercising 36 million stock options. But still, a gesture only. Ellison is the fourth wealthiest person in the world, according to Forbes. He is also Oracle’s largest shareholder, with 23.4 percent of stock outstanding, as of July 21. That stake is valued at more than $25 billion today.

So as long as Oracle (ORCL) continues to outperform the market, Larry will be just fine.

This morning, EMC raised its offer for Data Domain to $2.1 billion from $1.8 billion, an 11 percent increase over its previous all-cash bid. Data Domain’s board had previously recommended that shareholders reject EMC’s $30-a-share cash bid in favor of a $30 cash-and-stock offer from NetApp (NTAP).

Hard to see the board doing so again now that the EMC (EMC) has sweetened the financial end of its proposal and removed some deal-protection provisions with which Data Domain (DDUP) had taken issue. With those gone, EMC’s bid is clearly superior to NetApp’s, CEO Joe Tucci claims, and it would be hard to argue otherwise.

“Over the past several weeks we’ve received strong support from many Data Domain stockholders and customers, validating our belief that EMC is Data Domain’s best choice,” Tucci wrote in a letter to Data Domain’s leadership. “With regulatory requirements now fulfilled, and in light of the clearly superior proposal we submitted to Data Domain’s Board of Directors today, we expect Data Domain to sign our definitive agreement that will deliver superior value in cash to the Data Domain stockholders in as little as two weeks.”

Data Domain has until midnight on July 17 to accept the offer.

UPDATE: NetApp responded to EMC’s announcement with the following statement:

“In response to EMC’s revised, unsolicited offer, the NetApp Board of Directors will carefully weigh its options, keeping in mind both its fiduciary duty to its stockholders and its disciplined acquisition strategy. We will provide an update shortly.”

On Monday the company once again said its bid for the data storage equipment maker Data Domain is “superior” to a competing offer from NetApp. This, despite the fact that Data Domain earlier in the day issued a statement recommending that shareholders reject EMC’s $30-a-share cash bid and instead accept a $30 cash-and-stock offer from NetApp.

“Our Board is committed to enhancing stockholder value and, after careful review with our outside advisors, determined that the $30 per share EMC Offer is not in the best interests of our stockholders at this time,” said Frank Slootman, president and CEO of Data Domain.

Why not? Well, among other things Data Domain hasn’t been able to discuss EMC’s offer because EMC hasn’t yet accepted the confidentiality and standstill agreement that would allow it to do so. For another, Data Domain must pay a $57 million termination fee if it should abandon its deal with NetApp–and that’s on top of a host of other considerable transaction expenses.

That’s understandable, I suppose. Still, it’s difficult to see why Data Domain insists that EMC’s all-cash offer is worth less than NetApp’s cash-and-paper bid. Unless it’s doing so to force EMC’s hand deeper into its wallet. And, indeed, that may be exactly what’s happening here. Sources say. EMC (EMC) could raise its offer to as much as $35 per share to win Data Domain (DDUP) or force NetApp (NTAP) to pay more than it can afford for it. “EMC is in the win-win box and NetApp is in the lose-lose box,” a source close to the company told Reuters. “EMC can pay more than NetApp can in a reasonable range. If NetApp wants to pay at an unreasonable range, that’s good for EMC.”

As I noted that day, the timing of the rumor seemed a bit suspicious. With little in the way of news during the holiday week, Jobs’s decision to bail on the Macworld keynote issue still fresh in our minds and his health an obvious shareholder concern, it seemed a bit like an AAPL manipulator’s perfect storm.

Apparently, there may be a bit more to that armchair theory than I thought. Over at Traderhood, writers with far more stock analysis acumen than I, suggest that Apple shares were poised for a huge breakout in price the afternoon of Dec. 30, bolstered by a general upward trend in the market and their own ascending triangle (click on chart below) when they very suspiciously had the wind knocked out of them. “Amazingly at the very point where AAPL’s spike at the tip of the ascending triangle should happen, rumor was introduced and killed the setup completely,” Traderhood blogger Conschmillo explains. “I mean you can have things to happen unexpectedly. It happens all the time, it is a stock market, but to have them placed this [precisely] when everything else is taking off, AAPL included, makes me believe, there is more than meets the eye to why AAPL price is down. If this rumor was not introduced, AAPL would be somewhere around $93.”

So, a favorable technical set-up was thwarted at the moment the odds favored the opposite happening. Coincidence?

UPDATE: Apparently, it was a coincidence. Brian Lam, Editorial Director of Gizmodo, which published the rumor, tells me the site was tipped off well before Dec. 30.

[Image credit: Tin foil hat courtesy Patrick Daley]

(Thanks Barry )

What’s more, the company reaffirmed its 2009 revenue estimate of $2.7 billion. Quite a victory for Karmazin, who’s been facing a fair bit of shareholder discontent and more than a few calls for his ouster.

Searing claims. Unfortunately for Save Sirius and its founder Michael Hartleib, they’re far too lacking in specificity for a court to take them seriously. “The majority of Mr. Hartleib’s arguments to show the futility of making a demand on the current Sirius board are based on generalized, not specific allegations,” Judge Cormac J. Carney wrote in an order dismissing the suit. “Although the complaint identifies alleged fraud and wrongdoing committed by Defendants, it does not state how each specific Sirius director was responsible for those actions.”

Hartleib, for his part, was unfazed by the dismissal. “The case is not over at all,” he said. “We have twenty days to resubmit, and we shall.”

As of this writing SIRI was trading at $.15, about double its 52-week low.

What would I do? I’d shut it down and give the money back to the shareholders.”

– Michael Dell explains what he’d do were he CEO of Apple (AAPL), circa 1997

Weakening economic conditions have forced Dell (DELL) to add a new benefit to its already tenuous employee salary packages: a week of unpaid leave. In an effort to “better position the company for long-term competitiveness,” the company is asking workers to consider taking five days off without pay–the theory being that five days off without pay is better than six months off on unemployment in a lousy economy.

“[Our goal] is to address costs in creative ways, in a way that gives our employees more choices than perhaps have existed in the past,” said spokesman David Frink. “We’re looking to use voluntary cost reduction options whenever possible so fewer involuntary actions would be necessary.”

A foreboding announcement from Dell, which has already reduced headcount by about 10 percent (8,900 employees) this year. ’Course, if this initiative doesn’t work out, CEO Michael Dell could always shut down the company and return the money to the shareholders. …

With Yahoo’s stock trading at a 52-week low of $11.37, how could Microsoft CEO Steve Ballmer fail to comment on the discrepancy between the company’s current share price and the spurned $33-a-share bid Microsoft made for Yahoo earlier this year?

Speaking at the Gartner ITXpo in Orlando, Fla., this morning, Ballmer said that a Microsoft (MSFT) acquisition of Yahoo (YHOO) or its search business would still “make sense economically” for shareholders at both companies. “We offered 33 bucks [for Yahoo] and it’s at $11 today,” Ballmer said. “It’s clear Yahoo didn’t want to sell. They probably still think it’s worth more than $33 a share. … Perhaps there will continue to remain opportunities to partner around search. We are not in any discussions with them. We’ll see. They want to remain independent. There are probably still opportunities around search. I think it would still make sense economically for their shareholders and ours.”

That remark spiked Yahoo’s shares as much as 17 percent, though there are no talks between the two companies at the moment and Microsoft CFO Chris Liddell recently described Yahoo as a “declining asset” and the chances of Microsoft acquiring it outright as “negligible.”

Said Microsoft spokesperson Frank Shaw, “Our position hasn’t changed. Microsoft has no interest in acquiring Yahoo; there are no discussions between the companies.”