| | |
| Facebook shares jump 28 percent, Wall Street sees more ad growth Thursday, Jul 25, 2013 12:03 PM PDT  By Saqib Iqbal Ahmed and Sruthi Ramakrishnan (Reuters) - Facebook Inc shares opened 28 percent higher on Thursday after the company reported a huge jump in mobile advertising revenue, and analysts pointed to further growth from new advertising on Instagram and 15-second videos. While still short of their IPO price of $38, the shares hit $34 -- a price not seen since their second day of trading in May last year. ... Full Story | Top |
| MetroPCS doubles operating markets to compete with Leap Thursday, Jul 25, 2013 11:29 AM PDT By Sinead Carew NEW YORK (Reuters) - T-Mobile US Inc, the No. 4 U.S. mobile service provider, said on Thursday that its MetroPCS prepaid wireless business has doubled the number of markets where it operates, putting it head-to-head against smaller rival Leap Wireless in many of its new markets. Both Leap, which agreed to be bought by No 2 U.S. mobile service provider AT&T Inc, and MetroPCS, which merged with T-Mobile less than three months ago, target cost-conscious customers who pay for calls in advance. ... Full Story | Top |
| Russian web search firm Yandex's co-founder falls into coma Thursday, Jul 25, 2013 09:27 AM PDT  MOSCOW (Reuters) - The co-founder and chief technology officer of Russia's market-leading internet search engine company Yandex has fallen into a coma after treatment for cancer, the Nasdaq-listed company said on Thursday. Ilya Segalovich, aged 48, founded Yandex in 1997 with Arkady Volozh, the company's chief executive officer. "He built up an inspired and incredible team of talented engineers who are the backbone of the company now," Volozh told reporters on a conference call after the company had earlier published its latest results. ... Full Story | Top |
| BlackBerry lays off 250 employees in latest round of cuts Thursday, Jul 25, 2013 07:20 AM PDT  TORONTO (Reuters) - BlackBerry Ltd has laid off about 250 of its employees at its headquarters in Waterloo, Ontario, as part of its latest move to trim costs, the smartphone maker said on Thursday. "This is part of the next stage of our turnaround plan to increase efficiencies and scale our company," a BlackBerry spokeswoman said. The company, which last year cut thousands of jobs, recently hinted that more reductions were in the offing. Last month, BlackBerry reported dismal quarterly results, which triggered a 28 percent plunge in its share price. ... Full Story | Top |
| Xerox profit beats estimates on restructuring Thursday, Jul 25, 2013 06:46 AM PDT  By Nicola Leske (Reuters) - Xerox Corp reported higher-than-expected second-quarter earnings on Thursday on growth in its services division and reiterated its full-year targets as its restructuring efforts showed signs of paying off. Known for its printers and copiers, Xerox last year kicked off a restructuring program focused on its services business, which now generates about 55 percent of revenue and manages anything from toll systems to healthcare programs. ... Full Story | Top |
| Yandex co-founder and chief technology officer in coma Thursday, Jul 25, 2013 06:00 AM PDT MOSCOW (Reuters) - Ilya Segalovich, the co-founder and chief technology officer of Russian internet group Yandex, is in a coma, suffering with complications from cancer, the company's chief executive said on Thursday. The company earlier announced the death of Segalovich, aged 48, who had been diagnosed with a treatable form of cancer. "We want to clarify an earlier statement that the company put out. We have since learnt that Ilya is in coma and on life support although not showing any brain function. Our thoughts are with him at this time," Arkady Volozh said on a conference call. ... Full Story | Top |
| Sirius XM revenue up on subscriber gains, churn improves Thursday, Jul 25, 2013 05:28 AM PDT By Liana B. Baker (Reuters) - Satellite radio provider Sirius XM Radio Inc posted higher-than-expected second-quarter revenue on Thursday as it added more than 700,000 subscribers to its service, which is widely available built into cars. Sirius shares rose 1.6 percent in premarket trading. Gabelli & Co analyst Brett Harriss said the company's churn, or rate of cancellations, beat his estimates, improving to 1.7 percent in the quarter, down from 1.9 percent a year earlier. "This is a positive because monthly churn is the largest contributor to the lifetime value of a subscriber," Harriss said. ... Full Story | Top |
| 3M posts slight profit gain, boosts share buyback plan Thursday, Jul 25, 2013 05:05 AM PDT (Reuters) - Diversified U.S. manufacturer 3M Co posted a slightly higher quarterly profit on Thursday, helped by revenue increases across most of its business lines, and raised the number of shares it expects to buy back this year. The company, whose products include Post-it notes and film for flat-panel televisions, said second-quarter net income rose to $1.2 billion, or $1.71 per share, from $1.17 billion, or $1.66 per share a year ago. Analysts on average expected $1.70 per share, according Thomson Reuters I/B/E/S. Revenue increased 2.9 percent to $7.75 billion. Analysts were looking for ... Full Story | Top |
| Mobile boosts Baidu's second-quarter revenues; buy-outs grip sector Thursday, Jul 25, 2013 04:12 AM PDT By Paul Carsten and Lee Chyen Yee BEIJING/SINGAPORE (Reuters) - Revenues from Baidu Inc's mobile services surpassed 10 percent of its quarterly total for the first time in the April-June period, dispelling fears that China's largest Internet search was losing market share to rivals. Baidu has invested in location-based services, apps and online videos to make money off smartphone users as it looks to diversify its revenue stream and fend off increasingly stiff competition in the search market from rivals like Qihoo 360 Technology Co Ltd. ... Full Story | Top |
| AOL co-founder Case invests in e-commerce firm Thursday, Jul 25, 2013 04:04 AM PDT  By Alistair Barr SAN FRANCISCO (Reuters) - Revolution Growth, an investment firm run by AOL Inc co-founder Steve Case, said on Thursday that it invested $40 million in e-commerce start-up Bigcommerce. Bigcommerce, launched in 2009 by Eddie Machaalani and Mitchell Harper, plans to use the money to expand internationally and promote its brand. Case, who is joining the board of Bigcommerce, has invested in several e-commerce start-ups, including LivingSocial, Zipcar and more recently Optoro. ... Full Story | Top |
| Penguin promises EU regulator to scrap Apple ebook deals Thursday, Jul 25, 2013 02:55 AM PDT  BRUSSELS (Reuters) - EU regulators accepted on Thursday a pledge by British media group Pearson's Penguin unit to scrap its ebook deals with Apple which set price curbs on Amazon and other retailers, closing an antitrust case against the company. Penguin offered in April to end "most-favored nation" contracts for five years. Such clauses bar rival retailers from selling e-books more cheaply than Apple. It also proposed to let retailers set prices or discounts for a period of two years. The concessions are similar to those offered by four other publishers last year. ... Full Story | Top |
| Facebook wows Wall Street with mobile ads growth Thursday, Jul 25, 2013 02:35 AM PDT  (Reuters) - Facebook Inc's stellar results allayed fears that the company may face difficulty in making money from mobile ads and prompted several Wall Street brokerages to raise their target price on the stock. Facebook, whose shares were set to open up 17 percent, posted a jump in second-quarter revenue on Wednesday, with mobile ad revenues making up 41 percent of the total ad revenue. "Facebook has discovered the formula to begin significantly extracting value from its 1.16 billion global users," said JMP Securities analyst Ronald Josey. ... Full Story | Top |
| SoftBank CEO: no comment on whether he tried to buy Universal Music Thursday, Jul 25, 2013 01:58 AM PDT  TOKYO (Reuters) - SoftBank Corp CEO Masayoshi Son said on Thursday he could not comment whether he had tried to buy Universal Music, after a media report last week said Universal's owner Vivendi SA had rejected an $8.5 billion offer from Son's company. "I can't comment on the matter," he told reporters inside Japan's Ministry of Internal Affairs and Communications, when asked whether he had considered acquiring Universal Music from Vivendi. The Financial Times reported last week that the Japanese telecoms group, which just completed a $21.6 billion takeover of U.S. ... Full Story | Top |
| House rejects bid to curb spy agency data collection Wednesday, Jul 24, 2013 06:05 PM PDT  By David Alexander WASHINGTON (Reuters) - A U.S. spy program that sweeps up vast amounts of electronic communications survived a legislative challenge in the House of Representatives on Wednesday, the first attempt to curb the data gathering since former NSA contractor Edward Snowden revealed details of its scope. The House of Representatives voted 217-205 to defeat an amendment to the defense appropriations bill that would have limited the National Security Agency's ability to collect electronic information, including phone call records. ... Full Story | Top |
| Dell founder ups takeover bid based on voting rule change Wednesday, Jul 24, 2013 05:11 PM PDT  By Poornima Gupta, Soyoung Kim and Greg Roumeliotis (Reuters) - Dell Inc founder Michael Dell raised his $24.4 billion bid by less than 1 percent just hours before it was to be put to a vote, tacking on a controversial demand to change voting rules to make it easier for him to buy and take the No. 3 personal computer maker private. A special board committee on Wednesday was reviewing the CEO's sweetened $13.75 offer and requirement that a majority of votes cast be enough to seal the deal, an easier threshold for him to meet. ... Full Story | Top |
|
No comments:
Post a Comment