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| Netflix shares slump as earnings rally fades Tuesday, Oct 22, 2013 12:15 PM PDT  By Ryan Vlastelica and Angela Moon NEW YORK (Reuters) - Investors turned on Netflix Inc on Tuesday, reversing early gains in a flurry of selling that bore the hallmark of momentum traders getting out of the high-flying stock. After rising nearly 10 percent at the open, Netflix, the year's best performer in the S&P 500 index, was met with immediate selling that picked up once shares moved into negative territory on the day. Volume spiked as shares fell, a sign of hot money leaving the stock. ... Full Story | Top |
| Jefferies Group hires Citi's Mazzucco to lead Internet banking Tuesday, Oct 22, 2013 11:37 AM PDT (Reuters) - Jefferies Group Inc has hired Citigroup banker Tom Mazzucco as managing director and head of Internet investment banking, according to a source familiar with the matter. Mazzucco will be based in Jefferies' Silicon Valley office, the person said. Prior to his role as global head of Internet investment banking at Citi, he headed UBS AG's Internet practice and spent two years at Lehman Brothers and 14 years at Merrill Lynch, according to his LinkedIn profile. ... Full Story | Top |
| Apple gives away Mac software, unveils iPad Air Tuesday, Oct 22, 2013 11:21 AM PDT  By Poornima Gupta and Edwin Chan SAN FRANCISCO (Reuters) - Apple Inc on Tuesday took the wraps off a slimmer faster tablet called the iPad Air and said it will give away Macintosh operating and work software free to its users, challenging Microsoft Corp's near-stranglehold on personal computing. Apple announced the surprise offer, which will be available to all users of Apple MacBooks and Mac computers, at a product event on Tuesday at which it also unveiled a new line of Mac notebooks and computers. ... Full Story | Top |
| Analysts raise Netflix targets but ask if shares now too high Tuesday, Oct 22, 2013 10:57 AM PDT  (Reuters) - Strong subscriber gains by Netflix Inc prompted analysts to sharply raise price targets on the stock, even as some worried that the shares are getting expensive as the online online video company faces bigger bills for original programs. Netflix shares were set to open 9 percent higher at around $387, having more than doubled in value in the last six months. It is the biggest gainer in the S&P 500 index this year. At least 12 brokerages raised their price targets on Netflix's shares by as much as $200, yet most of the price targets are still below the current share price. ... Full Story | Top |
| Cardiovascular Systems gets nod for new heart device Tuesday, Oct 22, 2013 10:02 AM PDT (Reuters) - Cardiovascular Systems Inc received U.S. Food and Drug Administration approval to start selling its heart device to treat severe calcium deposits in coronary arteries, sending its shares up as much as 23 percent. The device, Diamondback 360 Coronary Orbital Atherectomy System, will be launched immediately after the FDA's marketing approval, the company said on Tuesday. Plaque build up, including calcium deposits, in arteries reduces blood supply to the heart, leading to coronary artery disease. The company estimated the U.S. market opportunity for the device to exceed $1. ... Full Story | Top |
| South African firm's phones to be made in Africa, for Africa Tuesday, Oct 22, 2013 09:07 AM PDT By Helen Nyambura-Mwaura JOHANNESBURG (Reuters) - Millions of mobile phones are shipped to Africa every month, but a South African company hopes to rival the likes of Samsung and Nokia with home-grown smartphones tailored to African needs. Seemahale Telecoms, which already makes telecommunications equipment in South Africa, is set to build a model that looks similar to Samsung's Galaxy S4 and runs on Google's Android operating system, to sell at around 2,500 rand ($260). ... Full Story | Top |
| Google has nothing to fear from new EU data law Tuesday, Oct 22, 2013 08:57 AM PDT  By Luke Baker BRUSSELS (Reuters) - Google, Facebook and other U.S. technology companies have been given a wake-up call with moves by Europe to impose stricter rules on data protection, but have nothing to fear from them, one of the architects of the legislation said. The European Parliament's civil liberties committee voted overwhelmingly in favor of a tougher data privacy regime on Monday, including fines of up to 100 million euros for companies that violate the rules, which limit how data is shared with non-EU countries, among other things. ... Full Story | Top |
| Loeb's Third Point takes Nokia stake, plans to return some cash Tuesday, Oct 22, 2013 08:33 AM PDT  BOSTON (Reuters) - Hedge fund manager Daniel Loeb, one of the industry's best performers this year, said his Third Point took a position in Nokia after the Finnish communications and technology company said it would spin off its Devices & Services business to Microsoft. News that Loeb had taken a stake in Nokia sent the company's shares up 1.4 percent in New York on Tuesday. ... Full Story | Top |
| BSkyB signs deal with Twitter to show Champions League clips Tuesday, Oct 22, 2013 08:26 AM PDT  LONDON (Reuters) - Britain's dominant pay-TV provider BSkyB has struck a deal with social networking site Twitter to show clips from European Champions League soccer matches to help promote its new contract-free online service. The clips will be fed through Twitter's promoted Tweets via cross-platform service Grabyo Studio. They will help to drive additional advertising and sponsorship revenues for the social media network ahead of its highly anticipated initial public offering in New York. ... Full Story | Top |
| Telekom Austria risks credit rating for auction cost Tuesday, Oct 22, 2013 04:05 AM PDT  By Georgina Prodhan and Angelika Gruber VIENNA (Reuters) - Telekom Austria may have to risk its credit rating, which it said earlier this year was its top priority, to raise debt for a costly frequency auction, its chief executive said. The company said late on Monday it would pay 1.03 billion euros ($1.41 billion) to buy half the spectrum on offer in an auction for Austrian fourth-generation frequencies, almost three times as much as most analysts had expected. ... Full Story | Top |
| Nokia launches tablet to join Microsoft gadget push Tuesday, Oct 22, 2013 03:39 AM PDT  By Matt Smith ABU DHABI (Reuters) - Nokia has unveiled its first tablet and large-screen smartphones, which will form part of Microsoft's global push to become a leading player in consumer devices when it takes over the Finnish company's handset business. The Lumia 2520 tablet, along with the Lumia 1320 and 1520 phones are among the last products Nokia developed before deciding to sell the devices unit to Microsoft in a deal that is due to close in the first quarter of next year. ... Full Story | Top |
| China television slams Samsung Electronics for charging customers to fix smartphone defects Tuesday, Oct 22, 2013 02:42 AM PDT Beijing (Reuters) - China Central Television has criticized South Korea's Samsung Electronics Co Ltd for charging customers to repair devices which the state broadcaster says are defective because of a manufacturing error. CCTV in a program broadcast late Monday said internal multimedia cards cause the software of Samsung's Note and S series of smartphones to seize up. "We remain committed to providing the highest quality products and services. Upon verification of these reports, including their technical aspects, we will respond accordingly," Samsung said in a statement sent to Reuters. ... Full Story | Top |
| Strong 4G demand boosts EE in third quarter Tuesday, Oct 22, 2013 02:05 AM PDT LONDON (Reuters) - Britain's largest mobile operator EE added half a million customers to its superfast 4G service in the third quarter, boosting data revenues and encouraging more subscribers onto longer term contracts. However, the strong demand for 4G failed to offset the overall reduction in its customer base. EE, a joint venture between Orange and Deutsche Telekom, has built up a strong lead after it rolled out its 4G service last October, almost a year ahead of rivals 02, owned by Telefonica, and Vodafone, which launched their offerings in August. ... Full Story | Top |
| Nokia announces new Asha phones Tuesday, Oct 22, 2013 12:51 AM PDT  ABU DHABI (Reuters) - Nokia on Tuesday announced upgraded versions of its Asha range of mobile phones, some of the last products it developed before deciding to sell its handset business to Microsoft. Three new Asha models were unveiled at the annual Nokia World event in Abu Dhabi, where the company is expected to launch new large-screen devices to compete with Apple and Samsung. ... Full Story | Top |
| Shares in FCC soar after Bill Gates takes six percent stake Tuesday, Oct 22, 2013 12:39 AM PDT MADRID (Reuters) - Shares in Spanish constructor FCC opened up 13 percent on Tuesday to 17 euros ($23.3) after the company announced Bill Gates, co-founder of Microsoft, had become its second largest shareholder with a 6 percent stake. ($1 = 0.7312 euros) (Reporting By Tracy Rucinski; writing by Sarah Morris; Editing by Paul Day) Full Story | Top |
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