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Sprint to Lay Off Thousands of Customer Service Reps
January 28, 2016
Sprint plans to lay off about 2,500 employees, including five vice presidents, according to news reports this week. About 2,000 of the cuts are in customer service. The company reportedly will close or reduce operations at six customer care centers: at its Overland Park headquarters in Kansas and in Colorado, New Mexico, Tennessee, Texas and Virginia.
Wall Street Backs Off Apple
January 28, 2016
Their fears confirmed, investors were bearish on Apple Wednesday, the day after the company reported its slowest-growth quarter ever. The company's shares closed the day at $93.44, down 6.55 percent. In its Q1 earnings report, Apple prepared investors for what may come next: its weakest quarter for iPhone sales in 13 years. Even worse is its gloomy forecast for next quarter's iPhone sales.
GoPro Shooters Can Send Live Streams Up Periscope
January 27, 2016
GoPro on Monday announced an integration with Twitter's Periscope app that allows live streaming from a GoPro Hero4 camera. Periscope users can switch between broadcasting from their iPhone's camera to their GoPro directly from the phone screen with the touch of a button, GoPro said. The feature allows GoPro shooters to use the Periscope interface like a production switchboard.
iPhone Sales Could Be Slowing
January 26, 2016
In the runup to the release of Apple's Q1 2016 earnings report Tuesday, one of the big unanswered questions was whether the iPhone could maintain its sales momentum. Q1 2015 iPhone sales hit a record 74.5 million units, and it's possible the latest quarter's shipments may not equal -- let alone exceed -- that mark. IDC has forecast of slowing sales industrywide for 2016.
Execs Exit as Dorsey Works to Reshape Twitter
January 25, 2016
Twitter CEO Jack Dorsey on Sunday announced that four executives have exited the company. Alex Roetter and Kevin Weil, who managed the engineering teams responsible for generating ads; Katie Stanton, who helped guide the international offices; and Skip Schipper, who oversaw HR and recruiting, all have departed. Roetter, Weil and Stanton each had been with Twitter for more than five years.
Foursquare Shifts Gears
January 16, 2016
Foursquare cofounder Dennis Crowley has assumed a new executive role, and the company has raised $45 million in a new round of funding led by Union Square Ventures. Crowley has moved from his perch as CEO into the newly created position of executive chairman, which will let him focus on developing new products. Jeff Glueck, who served as COO for the past year, has taken the CEO helm.
Time Warner Possibilities Put Glint in Apple's Eye
January 14, 2016
Time Warner CEO Jeffrey Bewkes this week hinted at a meeting with investors that he might consider a sale of the company, according to a news report. Apple, which reportedly is interested in purchasing Time Warner or its media assets, is keeping a close eye on the discussions. Buying Time Warner's assets would give the flailing Apple TV streaming service much-needed programming.
Apple Execs' Salaries Go Up as Stock Goes Down
January 9, 2016
All but one of Apple's top team received a pay raise in 2015, according to a proxy statement filed with the Securities and Exchange Commission this week. While Angela Ahrendts, Apple's senior vice president for retail and online stores, didn't get a raise, she's still pulling down the highest executive compensation at the company at $25.8 million. Her compensation in 2014 was $73.4 million.
Investor Calls for Leadership Changes at Yahoo
January 7, 2016
Activist investor Starboard Value, which has dogged Yahoo over the years, on Wednesday sent a letter to the company demanding it make changes or face a proxy fight. Yahoo "made the right decision" by suspending the Alibaba spinoff, but "the continued downward spiral of Yahoo's core Search and Display advertising businesses" has been "frustrating for us, and likely for you," the letter states.
Fitbit Shares Surge on Healthy Downloads
December 30, 2015
Fitbit shares earlier this week climbed several percentage points after the company's app topped the iOS charts over the Christmas holiday. The Fitbit app was the top free app downloaded from Apple's App Store on Christmas Day. It was already the most downloaded app in the store's fitness and health category. It wasn't just downloads that told the story of Fitbit's success, however.
Disgruntled Yahoo Investors Suggest Different Paths Forward
December 16, 2015
Two Yahoo investors, acting independently, have publicly called for radical changes or a potential sale of the firm. Both Canyon Capital Advisors and SpringOwl Asset Management apparently were unappeased by last week's announcement that Yahoo would spin off its core Internet business. Canyon Capital Advisors on Friday sent a letter urging Yahoo to find a buyer for its core Internet businesses.
Atlassian Surges in Eye-Popping IPO
December 14, 2015
Atlassian last week exceeded expectations with its initial public offering, beginning trading at more than $27 per share, about 30 percent higher than the $21 issue price. That means the company -- trading under the ticker "TEAM" -- was valued at about $5.6 billion Thursday. Atlassian's shares closed at $27.78. The company, founded in 2002, is best known for its Jira and HipChat products.
Yahoo Spins in Reverse
December 9, 2015
Yahoo on Wednesday announced that its board of directors decided to suspend plans to spin off its Alibaba holdings and instead will undertake a reverse spinoff, transferring its other assets and liabilities to a newly formed company. The stock of the newly formed company will be distributed pro rata to Yahoo shareholders, resulting in two separate publicly traded companies.
Ballmer Points Out Error of Microsoft's Ways
December 4, 2015
Former CEO Steve Ballmer on Wednesday called out Microsoft on finance reporting and its app strategy for Windows Phone. CEO Satya Nadella this summer laid out his vision for the company in a letter to employees. It included a Windows 10 strategy founded on universal apps, software that could be scaled to Xbox One, Window Phones, tablets and desktops. That's the wrong way to go, Ballmer asserted.
Investors Buying In Following Salesforce's Q3 Stunner
November 19, 2015
Salesforce shares rose to an all-time high Thursday, after the company reported better-than-expected Q3 revenue and raised earnings estimates for 2016. Salesforce reported earnings of 21 cents a share and a revenue increase of 24 percent to $1.71 billion, compared with a year ago. The company is on pace to become the fourth largest enterprise software company in the world.
Time for Apple to Broaden Its Model?
November 16, 2015
Apple shares have been sliding since Credit Suisse last week warned of weaker-than-expected iPhone 6s demand. Credit Suisse lowered its earnings estimates for calendar year 2016 by 6 percent, based on Apple cutting component orders by as much as 10 percent due to the weak demand. Credit Suisse lowered its calendar year estimates to 222 million units from 242 million units.
HP, Hewlett Packard Enterprise Go Separate Ways
November 2, 2015
The long-awaited split of HP's personal computer and enterprise operations has taken place, and CEO Meg Whitman clearly faces the most challenging crisis of her career -- trying to save a legacy business from being buried by the sands of time and progress. HP on Monday began its first official business day as a house divided into two brand new $50 billion enterprises.
Google Views Itself Through Machine Learning Lens
October 26, 2015
Google CEO Sundar Pichai last week lit up his first earnings call with accounts of a solid third quarter and machine learning dreams that could permeate all the company's products. As the call drew to a close, investors asked about the vision for machine learning. Google has been rethinking everything it has been doing, and doing so through the transformative field of machine learning, he said.
Amazon Rides High on Profit Stunner
October 26, 2015
Amazon last week stunned Wall Street by releasing third-quarter earnings that blazed past consensus estimates on the strength of its growing cloud services business and surprisingly strong response to its efforts to boost membership in its Prime program. Shares rose almost 7 percent to $601.72 in late trading Friday. Net income was $79 million in the quarter, or 17 cents a share.
Tesla Stock Plummets After Consumer Reports Do-Over
October 21, 2015
Tesla Motors' stock price on Tuesday dropped more than 11 percent following Consumer Reports' withdrawal of its favorable recommendation for the company's Model S sedan. Poor reliability contributed to the decision to withdraw its recommendation, but the magazine noted that 97 percent of Tesla owners surveyed said they would buy a car from the company again despite the problems.
Ingress Maker Niantic Scores $20 Million for AR Gaming
October 16, 2015
Niantic on Thursday announced that it was the beneficiary of a big bet pooled together by benefactors Google, Nintendo and The Pokémon Co. Niantic, which develops augmented reality games, will receive $20 million in the Series A funding round and could receive another $10 million if it realizes certain undisclosed goals. The company was founded by Google Earth cocreator John Hanke.
Salesforce Investors Applaud European Startup Plans
October 15, 2015
Shares of Salesforce were up Thursday as it gained momentum from investors cheering on its plans to invest $100 million into European startup firms. The company on Tuesday announced that its Salesforce Ventures unit had allocated $100 million to fund startups in the European market and improve customer service in the region. Salesforce already has partnerships with a number of European firms.
Half a Dorsey May Mean Trouble for IPO-Bound Square
October 15, 2015
Square on Wednesday announced that it had registered with the Securities and Exchange Commission for its long-expected initial public offering. A startup that specializes in electronic payments, Square has been operating in the red. It plans to raise up to $275 million in its IPO, it disclosed in its SEC filing. However, market conditions currently are not considered very favorable for IPOs.
Twitter Slashes Workforce as Dorsey Aims to Restore Confidence
October 14, 2015
Investors cheered after Twitter CEO Jack Dorsey's announcement to cut up to 336 jobs, or 8 percent of the global workforce, as part of an effort to strengthen long-term growth. Dorsey, the company cofounder who last week reclaimed his former position as chief executive, announced the painful round of cuts in a memo to employees, emphasizing plans to monetize the company's core product offerings.
Handmade at Amazon Could Needle Etsy
October 9, 2015
Amazon has announced Handmade at Amazon, a new specialty site designed to sell original handcrafted wares to a unique set of customers in a market led by rival etailer Etsy. Etsy, in its 10th year of operation, put the retail industry on notice in April, when its share price rose to $31, up 88 percent from its initial public offering price of $16. However, its stock price recently has struggled.
Groupon Rethinks Its Road Map
September 23, 2015
Groupon on Tuesday announced plans to cut 1,100 jobs and close operations in seven countries and said it has filed a statement with the Securities and Exchange Commission to that effect. The biggest cuts will hit its customer service and international deals centers, as the company regroups to leverage new efficiencies. The restructuring will be complete in about a year.
Tests, Lies and Volkswagen
September 21, 2015
German automaker Volkswagen on Sunday admitted that it installed software that doctored the pollution tests for diesel vehicles sold in the United States. Volkswagen stock, which is listed in Europe, fell more than 20 percent Monday morning on the announcement. The company apparently was concerned that meeting the federal emissions standards would require it to degrade the vehicles' engines.
New iPhones Poised to Do Land Office Business
September 14, 2015
Apple is trumpeting the figures for its iPhone 6s and 6s Plus preorders, saying that it's on track to beat last year's first-weekend iPhone sales record of 10 million units. Last year's models included Apple's first large-screen smartphone, the iPhone 6 Plus. Getting off to a good start is very important for a product, said Patrick Moorhead, principal analyst at Moor Insights and Strategy.
Intel Pumps OpenStack Up
August 27, 2015
As part of a new strategic collaboration, Intel will lead a $100 million funding round in Mirantis, the companies announced earlier this week. Intel is a long-time investor in Mirantis. This round includes existing investors August Capital, Insight Venture Partners, Ericsson, Sapphire Ventures and WestSummit Capital, as well as new investor Goldman Sachs.
Will Google Win the Alphabet Game?
August 13, 2015
Google suddenly announced something much bigger. It is splitting itself into several different companies under one master brand called "Alphabet." Splitting up is what Google has needed to do for several years. The idea of creating a master brand makes enormous sense for a company like Google, which is an octopus with many arms. However, it is only right if it is done correctly.
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