E-Commerce News: Wall Street

Thursday - May 8, 2008

Warner Music Group, whose artists include R.E.M., Madonna and Green Day, said Thursday that higher costs and a shift to digital music resulted in a wider second-quarter loss, and it suspended dividends. Shares tumbled more than 20 percent, or $1.87, to $7.18 in morning trading. For the period ended March 31, the New York-based recording company reported a loss of $37 million, or 25 cents per share, compared with a loss of $27 million, or 19 cents per share, a year earlier. Losses from continuing operations totaled 23 cents per share in the latest period. [More...]

iPhone's Uncertain Future Sends Synchronoss Into Tailspin

Wednesday - May 7, 2008

Shares of Synchronoss Technologies plummeted Wednesday morning after the company offered worrying guidance on its revenue related to Apple's iPhone. The stock fell $9.84, or 43 percent, to $13.06 in morning trading. The stock earlier hit a 52-week low of $12.72, far below a previous bottom of $15.15 set in early March. [More...]

Cisco Profit Slips but Outstrips Expectations

Wednesday - May 7, 2008

After seeing Cisco Systems' market value plunge $50 billion over the past six months, investors were relieved that the networking equipment maker managed to weather U.S. economic turbulence better than expected in its fiscal third quarter. The company reported third-quarter profit Tuesday that beat analyst forecasts by 2 cents per share, and it offered fourth-quarter sales guidance in line with Wall Street's projections. [More...]

DT May Bring Ailing Sprint Nextel Into Its Fold

Monday - May 5, 2008

Germany-based Deutsche Telekom could take over the top spot in the U.S. wireless telephone market, eclipsing the current No. 1 carrier AT&T, if reports of its potential bid for Sprint Nextel prove true. The company may place an offer on slumping Sprint within the next few days. [More...]

Microsoft Ditches Yahoo, Google Picks Up Marbles

Monday - May 5, 2008

The stock market is making its after-the-fact adjustment to the end of the Microsoft-Yahoo saga, which culminated this weekend. After last minute negotiations failed, Microsoft walked away from its bid to acquire Yahoo for slightly more than its original offer of $33 per share. [More...]

Will Investors Push Motorola to Speedier Split?

Monday - May 5, 2008

In the run-up to Motorola's 2008 annual shareholders meeting, vocal investor Carl Icahn threatened a proxy battle, sued the company, helped persuade executives to pursue a breakup, and won two seats on the board. Those events were just a prelude to the tough stockholder scrutiny Motorola will face in the year ahead as it tries to prepare its ailing cell phone division for independence. [More...]

Apple Gets Lift on Analyst's Second Thoughts

Monday - May 5, 2008

Apple shares rose modestly Monday after an American Technology Research analyst raised his rating to "Buy" and an RBC Capital Markets analyst increased his price target for the computer and gadget maker's stock. Apple shares rose $3.57 to $184.51. Earlier, the shares traded as high as $185.31 -- their highest since early January. [More...]

Sun Suffers a Reversal of Fortunes

Friday - May 2, 2008

Sun Microsystems announced a $34 million loss in its fiscal third quarter as the company continued to repurchase its stock, reinvest cash in the business and pursue acquisitions and expansion in emerging markets. That's a steep drop from the $67 million the company made in the same quarter in 2007. [More...]

'Rock Band' Helps Drum Up 33 Percent Profit Growth for Viacom

Friday - May 2, 2008

Entertainment conglomerate Viacom, riding a wave of success from a video game launch and a strong showing by its television enterprises, reported a 33 percent increase in first-quarter profit Friday. Viacom, which owns the Nickelodeon, MTV and BET networks as well as moviemaker Paramount, reported earnings of $270 million, or 42 cents per share, from January through March. [More...]

Economic Woes Fail to Throttle Comcast Earnings

Thursday - May 1, 2008

Promotional offers and higher cable television spending fueled the first-quarter profits of Comcast, which showed limited effects from an economic slowdown. The nation's largest cable operator posted a 12.5 percent decline in profits, but it was mainly due to one-time gains from the dissolution of cable partnerships. [More...]

Time Warner Turns Cable Unit Loose, Nurtures Lagging AOL

Wednesday - April 30, 2008

Media giant Time Warner plans to sell off its remaining 84 percent stake in its recently spun-off cable company. The company unveiled the strategy as it posted weaker profit and its AOL Web portal grew modestly in advertising revenue. Time Warner said net profit for the first quarter was $771 million, or 21 cents per share, down 36 percent from the $1.2 billion posted in the same quarter a year ago. [More...]

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