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Nintendo's Q1 Reflects Struggles Unrelated to Pokemon Go Success
July 27, 2016
Nintendo shares fell sharply in Tokyo on Wednesday, following its release of a first-quarter earnings report that disappointed analyst expectations. The company reported a drop of 31 percent in net sales and an operating loss of about $48 million, which it attributed to growing strength in the Japanese yen but which likely had more to do with dismal sales of the Wii U, which it is phasing out.
Yahoo Deal Could Put Verizon in Google and Facebook's League
July 25, 2016
Verizon has entered into a definitive agreement to acquire Yahoo's operating business for approximately $4.83 billion in cash. The deal, which comes on the heels of Verizon's $4.4 billion AOL purchase last year, will allow it to expand its digital advertising business. The purchase will provide Verizon with Yahoo's ad tech tools, search, email and messenger assets.
Verizon on Verge of $5B Deal for Yahoo Core Assets
July 22, 2016
Verizon reportedly is close to a deal to buy the core Web assets of Yahoo for $5 billion, which would end a months-long process of jockeying over the future of the struggling company. Verizon emerged as the winner of a lengthy bidding contest to acquire the assets, according to reports that surfaced Friday. An agreement is expected early next week.
Musk Plots Out Tesla's Next 10 Years
July 22, 2016
Elon Musk has unveiled a second master plan for Tesla, a follow-up to the vision he shared 10 years ago. The original master plan is now in the final stages of execution. The refresh sketches out a multiyear, four-pronged strategy that is about more than vehicles. Musk also plans to advance an integrated solar-roof-with-battery product and create a ride-sharing program, among other things.
Netflix Shares Fall as Subscriber Growth Hits a Wall
July 20, 2016
Shares of Netflix fell sharply Tuesday after it reported lower-than-expected second quarter earnings, which the company blamed on subscriber growth that fell short of forecasts. Netflix added 1.7 million subscribers in the quarter, pushing its total membership to more than 83 million, the company told shareholders. However, that growth was far less than the 2.5 million it had projected.
Yahoo Posts Weak Earnings as Assets Sale Waiting Game Drags On
July 19, 2016
Yahoo on Monday reported second quarter earnings that fell just short of Wall Street estimates but left investors and analysts waiting to hear about progress in finding a strategic investment partner. Negotiations over the potential sale of the company's core assets are under way. The company reported earnings from operations of $39 million, or 9 cents a share in the second quarter.
Consumer Reports Urges Tesla to Pull Plug on Autopilot
July 15, 2016
Consumer Reports has urged Tesla to disable the automatic steering function and change the name of its Autopilot driving assist feature. Questions recently have arisen over whether Tesla's Model S vehicles can operate safely without regular human intervention. Consumer Reports' change request sprang from concerns over a number of recent test crashes, including a fatal accident in Florida.
Musk Defends Autopilot Safety Record Following Fatal Crash
July 7, 2016
CEO Elon Musk on Wednesday accused Fortune magazine of incorrectly reporting Tesla Motors' handling of a fatal accident that involved a Tesla Model S. The incident took place in May. Musk's online post is the latest salvo in a war of wars between Fortune and Tesla. Musk accused Fortune, in essence, of jumping the gun in its reporting of Tesla's response to the accident.
Verizon's Mission of Self-Destruction
June 27, 2016
Customers and investors increasingly are wondering why Verizon and Verizon Wireless are hurting themselves with their actions. For starters, Verizon decided to battle its own striking workers on the public stage. That battle shed lots of bad blood, and it will be tough to close those wounds. Many companies experience strikes, but most are settled quickly and quietly.
Tesla Shares Tank on SolarCity Merger Proposal
June 23, 2016
Shares of Tesla Motors fell sharply Wednesday after the company, helmed by Elon Musk, made an offer to buy SolarCity for $2.8 billion. Musk is the chairman and top shareholder of the struggling alternative energy provider. Tesla made the offer Monday, in a letter to SolarCity CEO Lyndon Rive, noting that Musk and Antonio Gracias would recuse themselves from voting on the proposal.
WatchOS 3 Offers New Hope for Smartwatch Category
June 16, 2016
Apple finally responded to concerns that were threatening to scuttle its once-promising wearables category. Its introduction of watchOS 3 at this week's WWDC has drawn high praise. The Apple Watch represented the company's attempt to marry the ultimate Dick Tracy smart gadget with the genius of the iPhone, but it fell short. Instead of a convenience, it was far too slow and complicated.
Uber Scores Historic $3.5B Saudi Investment
June 2, 2016
Uber has nailed down a record $3.5 billion investment from the Saudi Arabian Public Investment Fund -- the largest-ever investment in a closely held technology firm. The investment is part of a deal that will allow Uber to expand its Middle East operations. Yasir Al Rumayyan, managing director of the fund, will take a seat on Uber's board of directors.
Microsoft Drastically Scales Down Smartphone Biz
May 25, 2016
Microsoft on Wednesday announced plans to streamline its smartphone business by cutting 1,850 jobs. It will record an impairment charge of $950 million, with severance payments accounting for $200 million of the charge. The restructuring will entail up to 1,350 job losses at Microsoft Mobile Oy in Finland, and 500 more cuts around the world.
Twitter Loosens Tweet's Leash
May 25, 2016
Twitter on Tuesday announced a number of changes to tweets, including what will be included in a message's 140-character count. The changes will be rolled out in the coming months. When replying to a tweet, tagged @names at the beginning of the reply no longer will be included in the character count. Photos, GIFs, videos, polls and quote tweets won't be counted against the character limit.
Yahoo Bids Could Seriously Underwhelm
May 24, 2016
Bids for Yahoo's core assets were expected to come in at between $2 billion and $3 billion, far below prior estimates that it could fetch $4 billion to $8 billion at auction, according to a news report published last week. Verizon, which remains the leading candidate for Yahoo's assets, and other contenders met with CEO Marissa Mayer at the company's Sunnyvale, California, headquarters
New SF Store Showcases Apple's Trademark Creativity
May 24, 2016
Apple last week opened a San Francisco flagship store in the city's tony Union Square shopping district. The store has a 42-foot-tall sliding glass door and a 50-foot tall green wall and is powered by 100 percent renewable energy. "We have a deep commitment to the cities we work in and are aware of the importance that architecture plays in the community," Apple's Jonathan Ive said.
New Facebook Stock Class to Keep Zuckerberg in Driver's Seat
April 29, 2016
Facebook on Wednesday announced its board of directors is proposing a new class of shares that will allow its founder to pursue a number of different initiatives while maintaining long-term control over the company. The news came on the heels of a blockbuster first quarter earnings report. The plan calls for Facebook to offer non-voting Class C capital stock, which will allow CEO Mark Zuckerberg to pursue his long-term vision.
Yahoo Expands Board to Appease Contentious Investor
April 28, 2016
Yahoo on Wednesday announced that it has reached a deal with Starboard Value to add four independent directors, thus avoiding a proxy fight with a key investor that has been seeking radical changes at the company. Under the agreement, Starboard CEO Jeff Smith will join Yahoo as an independent director and will be a member of the company's Strategic Review Committee.
Wall Street Pummels Apple After Weak Q2 Earnings Report
April 28, 2016
Apple shares were trading at around $95 as of mid-day Thursday in the wake of the company's disappointing Q2 earnings report. That was even lower than Wednesday's opening price, which was down more than $8 from Tuesday's $104.35 at market close. The company's second-quarter performance was dismal. The iPhone recorded its first drop in sales -- to 51.2 million units, down from 61.2 million in the year-ago quarter.
Apple's Q2 Report Expected to Be Light on Good News
April 26, 2016
Apple shares closed at $105.08 Monday -- down 60 cents -- as the market steeled itself for what's expected to be a gloomy quarterly earnings call on Tuesday. Apple will underperform the smartphone industry and become the only global top-five brand to see shipments decline in 2016, predicted Ming-Chi Kuo, a KGI Securities analyst who previously has made several accurate calls on the company.
Unicorn Herd Threatens Silicon Valley, Warns VC
April 23, 2016
The age of Unicorn investing has led to alarming overvaluations of startups that could result in an afterparty roll call not seen since 1999, Silicon Valley VC Bill Gurley warned Thursday. Gurley, a general partner at Benchmark, raised a red flag over the large number of tech startups valued at more than $1 billion, and suggested that the rise of Unicorn fundraising has put the financial health of the industry at risk.
Verizon May Be Tuning Up for Yodeling Contest
April 9, 2016
Verizon reportedly is planning to make a formal first-round bid for the core assets of Yahoo when the company begins fielding offers on Monday. Verizon, whose CEO last month confirmed his company's interest, is working with executives of its AOL subsidiary and three financial advisors to put together a bid by the April 11 deadline, according to the report.
Report Throws the Book at Yahoo
April 8, 2016
Yahoo is in the midst of a financial freefall, based on a report that claims the company's deal book shows a muddled and confusing financial picture that has made potential investors nervous about any effort to salvage the business. Yahoo's internal presentation for investors paints a picture of a company moving entirely in the wrong direction, according to the report.
Hard-Pressed Pebble Sheds 25 Percent of Workforce
March 29, 2016
Pebble -- once viewed as the little smartwatch company that could -- last week cut its worldwide workforce by 25 percent, according to news reports. That's reportedly about 40 people, but actual figures are hard to come by because Pebble is privately held. The company has raised $46 million, but CEO Eric Migicovsky blamed the layoffs on the difficulty of raising funds in Silicon Valley these days.
Salesforce Springs Some Q4 Surprises
February 26, 2016
Salesforce shares held strong on Friday, following Thursday's spike on the company's release of a fiscal fourth-quarter earnings report that beat Wall Street estimates and raised revenue guidance for 2017. The stock finished up 11 percent Thursday, at $69.42, and held the gains on Friday, closing at $69.11. Fourth-quarter revenue was $1.81 billion, an increase of 25 percent from a year ago.
Yahoo Sets Itself Up for Buyout
February 20, 2016
Yahoo on Friday announced that it has hired banking advisers and formed a committee to explore its strategic alternatives, the latest indication that it's serious about pursuing a possible sale. The committee, along with advisers Goldman Sachs, J.P. Morgan Chase and PJT Partners, will identify and recommend to the board transactions that it deems beneficial to employees and shareholders.
Groupon Flies High on Alibaba Investment
February 17, 2016
Groupon's stock slipped a little on Wednesday, following Tuesday's dramatic 40 percent spike on the news that Alibaba had purchased about a 5 percent stake in the company. Alibaba last week disclosed in a filing with the Securities and Exchange Commission that it had bought about 33 million shares of Groupon. The disclosure boosted shares of Alibaba, as well as the struggling Yahoo, which owns a stake in Alibaba.
Twitter's New Algorithm Raises De-Democratization Fears
February 10, 2016
Twitter on Wednesday gave users the option of using a new algorithmically organized feed that would deliver more relevant messages -- not necessarily the newest -- first. The new approach to disseminating tweets was spearheaded by Twitter's CEO Jack Dorsey, who is under pressure because of the company's lack of growth. Compared to other social media sites, like Facebook, Twitter is lagging behind.
Twitter Clobbered Over Timeline Algorithm Plans
February 9, 2016
Twitter plans to introduce an algorithmic timeline, possibly this week, according to a report last week. The algorithm would organize tweets based on relevancy. Twitter users criticized the idea using the hashtag #RIPTwitter, prompting CEO Jack Dorsey to respond: "Regarding #RIPTwitter: I want you all to know we're always listening. We never planned to reorder timelines next week."
LinkedIn Stock Tanks Despite Company's Professed Confidence
February 8, 2016
LinkedIn last week lost about $11 billion in market valuation after it provided a 2016 revenue forecast that fell short of analysts' expectations. The company's stock fell by as much as 44 percent Friday afternoon, with shares hitting a three-year-low of $108. LinkedIn generated $862 million in revenue in its fourth quarter of 2015, a 34 percent gain year over year.
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Code42
Would you drive a Tesla?
I already do, and I love it!
Yes -- if the price were lower.
No -- I wouldn't trust its Autopilot.
I'd drive an electric car but not a Tesla.
I'm not yet sold on electric vehicles.