Vivendi has closed the deal to sell its Brazilian broadband business to Spain's Telefonica for cash and shares worth nearly $10 billion.» Read More
DirecTV earnings came in this morning--with net income down 2 percent from last year and killed by a 22 percent INCREASE in operating expenses. This canceled out the good news that a key revenue metric for the satellite TV business was up 7% thanks to higher demand for High Definition and DVR services. It's that high definition that's DirecTV's saving grace.
A day after former Brocade CEO Gregory Reyes was found guilty on all 10 securities fraud charges brought against him, dozens of Silicon Valley executives--and hundreds of executives nationwide--faced with the same allegations, will have to re-think their defense strategies. The sweeping verdict in the first-of-its-kind criminal case for the U.S. Justice Department sent a seismic ripple through this region yesterday.
Here we go again--when it comes to all the speculation swirling around whether Google will jump into the cell phone market, not with new software, but with a handset of its own. To wit, we've already reported the myriad possibilities and puzzle pieces pointing to a possible cell-phone market entry by the search giant
In an interview with CNBC, Richard Parsons, chief executive of Time Warner, offered his views about the firm’s quarterly results, the likelihood of acquisitions, and his annoyance with the market.
The news appeared dire: a web report of serious problems connected to Apple's iPhone and the stock gets whacked. No, that's not a story from today. That news harkened back to June 3 when the website engadget.com reported erroneously of an internal Apple memo purporting to show that iPhone's launch would be delayed six months.
The Federal Communications Commission voted 4-1 to adopt a key "open access" resolution supported by search giant Google when a new wireless spectrum is auctioned in January, what could be a significant blow to wireless leaders AT&T and Verizon.The auction could raise as much as $15 billion.
The experts call the 700Mhz wireless spectrum the last piece of undeveloped beachfront real estate in cyberspace, and Google wants it. "I'll tell you, even at Google you can't make a $4.6 billion commitment without being serious," says Chris Sacca, Google's vice president who's spearheading the company's aggressive lobbying effort of the FCC to make sure its voice is heard in the upcoming auction of wireless spectrum.
Microsoft's top brass are hosting the company's Financial Analysts Meeting at company headquarters in Redmond, Washington today. I was going to be there as well, but at the last minute, changed plans for several reasons. And it was probably a good idea, at least for Microsoft.
In my earlier post, I talked about the Street's expectations for Google. Now, I'll focus on Apple. The company suffered much the same thing as Google, these past few months, when it came to the iPhone and the exuberant expectations around this product. We knew it was going to be big; important; game-changing; huge; fill-in-the-blank with the adjective of your choice.
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.
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.
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.
Every summer gadget companies are building the products they plan to sell during the late summer to Christmas bull market. A good investment play on the trend is to buy component makers like Texas Instruments.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
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.
Wall Street is heading for a lower opening as some weak earnings and credit market jitters outweigh positive profit reports from companies like Pepsico and Lockheed-Martin. European markets are moving lower after overnight gains in Tokyo and Hong Kong shares.
With AT&T to report earnings Tuesday, two analysts told "Power Lunch" that the exclusive provider of wireless service for the iPhone will report higher-than-expected numbers. "I think that they [iPhones] are going to be fairly successful over the next two years," said Frank Louthan, telecom analyst at Raymond James, linking AT&T's earnings report to high iPhone sales.
AT&T reports earnings Tuesday and while the company's NYSE trading symbol is "T," in this case, "t" stands for telegraph, as in telegraphing what to expect from Apple which reports on Wednesday. In AT&T's case, the Street is looking for 67 cents on $29.61 billion in revenue. Rather than looking at the company's entire financial picture, I want to focus on the wireless sector since I'm really more interested in what all this could mean for Apple a day later.
So, earlier today, I delved into the drama gripping the blogosphere: Fake Steve Jobs and the efforts to unmask him. Now we have a fake Wall Street analyst purporting to be one of the key voices covering the company.
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