Some of the names on the move ahead of the open.» Read More
The two big stories grabbing headlines in the handheld arena focus on Research in Motion and Palm, and for two decidedly different reasons...
Treo smartphone maker Palm could bring a buyer a decade's worth of digital assistant design and mobile phone know-how, but at a hefty price for a company no longer viewed as cutting edge.
Stocks closed sharply lower on Friday, sparked by a wave of last-minute selling by investors reluctant to be in the market over the weekend.."There was just no good news that came out today to convince people to buy stocks," said Charles Rotblut, senior market analyst at Zacks.com. "There are a lot of people happy with taking money off the table and waiting until Monday to see how it unfolds."
Shares of Palm rose 8.3% on Friday, again fueled by speculation that the maker of the Treo phone may be a takeover target.
Analysts said the deal would boost revenue at TI, which already sells Motorola chips for cheaper handsets but recently blamed its poor quarterly results on weak demand for more-costly phones that use multiple TI chips.
Stocks suffered their biggest pullback in two months as a disappointing bond auction and a lackluster report on sales of existing homes halted the market's two-day rally.
Handset maker Nokia reported fourth-quarter earnings ahead of market expectations Thursday, helped by strong demand for mobile phones in emerging markets.
Wall Street is undecided so far on where it will start the day though early earnings news and housing data could help set the tone. For now, eBay's strong profits and big stock move is a bright spot lifting the Nasdaq, which bounced higher on a tech rebound yesterday. The Dow, fresh off its 26th high since October, is flattish.
Qualcomm reported earnings of 43 cents a share, just above analysts' estimates, but results were mixed as quarterly sales came in at $2.02 billion, below forecasts.
Stocks in the U.S. for now look headed to open flat to lower-- after yesterday's rocky trading. Europe is moving lower and oil is getting a lift from cold weather. Some big companies will roll out earnings reports today, to a market that has become hypersensitive to corporate earnings growth. Bank America, Johnson & Johnson and DuPont all report today.
LG Electronics posted a 85% drop in its quarterly net profit Tuesday as anemic results in itsflat-screen operations outweighed a recovery in mobile phones.
Apple's iPhone is an interesting product, but its sales goal is not very high, Anssi Vanjoki, the head of the multimedia unit at Nokia was quoted as saying on Thursday.
Euphoria over the iPhone and its slick, sleek, slim design quickly gave way to sticker shock when Apple CEO Steve Jobs announced the pricetag: $499 for 4 gig model; $599 for the 8-gig. Let the pundit-parade begin: Too expensive, they clamored. Elitist, said others. But lets' look back: Remember that Apple was an expensive Johnny-come-lately to the world of digital music, and that was nearly 100 million iPods ago!
Apple shares are jumping higher this afternoon--up around 6.5% after the company unveiled it's new iPhone. “We’re gonna make some history today,” said Steve Jobs, the inconic head of Apple during his annual presentation at the MacWorld conference in San Francisco. “This is a day I’ve been looking forward to for two and a half years. Every once in a while, a revolutionary product comes along that changes everything.”
Americans are a bit stodgy when it comes to using their cell phones for anything other than talking or text messaging, so don’t expect Yahoo’s New Go for Mobile 2.0 to take the country by storm. But the future of Internet distribution of news and entertainment is in hand-held devices and Yahoo is planting its flag firmly atop The Next Big Thing.
Nokia sold 40 million smart phones in 2006 and more than 850 million people worldwide now use its mobile handsets, the Finnish company said Monday.
Financial markets will have plenty of news to feast on in the coming week although the markets generated enough headlines on their own in the first days of January with just a few big stories to chew on. The second week of January is quite busy. We're looking forward to some of the most important and newsy industry conferences of the year, plus the start of earnings season, an important Fed speech, and some fresh economic data.
Bad news from--and for Motorola today. The company announces poor fourth quarter expectations this morning--lowering its earnings and sales guidance. The cuts come as a result of shortfalls in its mobile devices unit. That news lead to downgrades by six analysts this morning. The stock is trading down nearly 8% in mid-day trading as a result. There was one analyst who may have seen this coming. He downgraded Motorola three weeks ago.
U.S. jobs data will guide the markets today and bad news from Motorola is rippling through global markets. An early look shows U.S. equities weaker ahead of the opening. European stocks are lower as commodity driven shares continue to sell off and most Asian markets closed with losses.
The Washington Research Foundation has sued mobile phone makers Nokia, Samsung Electronics and Matsushita-owned Panasonic for infringing on a patent for wireless Bluetooth technology.