Google is expanding its high-speed fiber-optic network to four new metropolitan areas in the United States.» Read More
Now that the major tech earnings parade has largely passed by, I have a chance to reflect on some bizarre developments swirling around both Google and Apple. This is the first of two blogs today, but I'll focus here on Google. It's interesting to note, that both companies are caught in a strange whirlpool of shifting euphoria, great expectations--and then punishing share-price brutality when performance doesn't match up with what the experts were looking for.
Note to PR people: please actually WATCH our network and understand what CNBC does before sending pitches. Here's a shortened list of press releases sent my way in the last 24 hours: "Draumr Publishing, an independent U.S. press, has finally released 'Moon Child,' the tantalizing new novel by first time Canadian author Simone Maroney, to the North American public. The book is a rollicking good ride, complete with adventure, betrayal and harrowing escapes from dire circumstances." And then there's Lindsay Lohan.
Telephone-directory company R.H. Donnelley clinched a deal for Web-based marketing directory Business.com Inc. for between $340 million and $360 million, the Wall Street Journal Online reported on Thursday.
Gaining share in the broadband market is now a key part of U.K. telecom BT's earnings growth, the company's CEO told CNBC Thursday.
Apple's conference call continues at this hour with the company's Chief Financial Officer Peter Oppenheimer re-iterating the company's projections to sell 10 million iPhones, despite the perceived slow start the product has suffered. Further, the company's shares opened to enormous volatility after being halted just moments before the earnings release hit the the tape.
Apple Inc. released its Third Quarter numbers and for a company more than doubling this past year, this was not the news investors were hoping for. The Third Quarter was a blow-out by normal standards: the 92 cents a share and $5.41 billion in revenue soundly beat the 72 cents and $5.285 billion the Street expected. Same goes for the 1.76 million Macs and 9.8 million iPods shipped on the quarter. Gross margins climbed to 36%. All very good news.
In my previous post, I wrote about how Facebook is being sued by the creators of Connect-U. But here's a twist: Facebook is also reportedly SUING them right back. I just interviewed Fortune Magazine Senior Editor (and a former colleague of mine), David Kirkpatrick who's spent quite a bit of time with Mark Zuckerberg and Facebook's managing team recently.
Everyone's talking about Facebook's new CFO, Gideon Yu, snatched from YouTube, where he helped negotiate YouTube's sale to Google. Yu clearly knows how to find a buyer for a hot property, and Facebook is hot, it's been valued as high as $8 billion. But Facebook has some other serious business going on today.
It's a weird Wednesday as we anticipate earnings news from Apple after the close later today. Weird because we got this hint into Apple's numbers from AT&T yesterday when the company disclosed 146,000 iPhone subs that first weekend the phone went on sale. We'll get a far better picture from Apple as far as iPhone sales are concerned today; but AT&T's news didn't stop Apple shares from suffering their worst, one-day point decline in seven years.
So there I was at the National Association of Realtors headquarters this morning, ready for the usual press conference on the monthly existing home sales numbers, but before the 'spiel' and the charts, the PR team passed out two interesting papers: “Fact Sheet” they each blared across the top in bold print.
Gideon Yu, 36, became chief financial officer of video-sharing sensation YouTube in September of last year, shortly before the company was acquired by Google in a $1.65 billion deal.
Shares of Amazon.com soared more than 26 percent on Wednesday, a day after the Web retailer reported its second-quarter profit more than tripled on strong sales of books, music and electronics.
Cisco Systems CEO John Chambers says we're about to enter "the second phase of the internet." He has Cramer very, very excited.
Sporadic power outages cascaded across San Francisco on Tuesday afternoon, affecting widespread areas throughout the city, including the downtown financial district, and halting its famous cable cars on the city's steep hills.
Netflix, the popular online movie rental company, confirmed to CNBC that the company's Web site has been down for several hours because of an "unanticipated outage" that occurred some time last night.
Amazon.com reported earnings of 19 cents a share for its second quarter, better than Wall Street estimates. Analysts forecast that Amazon would report a profit of 16 cents a share on sales of $2.81 billion, according a consensus estimate from Thomson Financial.
Ever wanted to meet the Woz? I DO! Change the world? Eh, not so much. Now you can do both. Apple co-founder Steve Wozniak is attending the upcoming IdeaFestival being sponsored by Best Buy's Geek Squad. It's an annual gathering of idea people--not Madison Avenue idea people, you know, the guys who brainstorm about putting monkeys in commercials--but people with ideas for changing the world! Through technology!
Too much hype? Or not enough? It's clear, from AT&T's earnings news this morning, that Apple iPhone projections were way ahead of reality. That "popping" noise could be Apple shares. I wrote earlier today that Apple's highly hyped iPhone performed nowhere near Wall Street expectations during its first 30 hours on sale: AT&T reports 146,000 activations during its first weekend on sale.
It's nice being able to pay someone else to mow the lawn. Now a company in Memphis is taking it a step further. You can pay a little more, and a crew of lawn mowing women will arrive at your house--wearing bikinis. The company is www.tigertimelawncare.com, a three-month old firm using the gimmick to get attention. It's worked.
Expedia, the online travel agency controlled by Barry Diller, said it is cutting its plan to buy back its own shares by almost 80 percent, blaming a lack of attractive financing available in credit markets.