Tech Biz Cheat Sheet: Google Action, Qualcomm and Orbitz Soar
Amazon.com, Inc. (NASDAQ:AMZN) will launch a digital book lending services for its Kindle owners holding an Amazon Prime membership ($79 per year). Called Kindle Owners’ Lending Library, borrowers can choose from over 5,000 titles and borrow only one book at time. The program begins today and will not be available on Apple Inc.’s (NASDAQ:AAPL) iPad or iPhone, only on the company’s Kindles.
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Apple Inc. (NASDAQ:AAPL) confirmed that the rumors are true about alleged problems with the Phone 4s batteries from the new iOS5 network. In a statement to All Things Digital, Apple said, “We have found a few bugs that are affecting battery life and we will release a software update to address those in a few weeks.”
Google Inc. (NASDAQ:GOOG) announced ad placements are now at the bottom of search results, instead of on the left side. The change will allow an improved flow to users as they can now scan pages top to bottom. The company said in tests, this placement has been found to have better click-through rates.
In other Google Inc. (NASDAQ:GOOG) news, the company and Oracle Corporation (NASDAQ:ORCL) held additional settlement talks to resolve their ongoing Java patent dispute in the Android mobile phone. Oracle is asking for $2 billion in damages from Android’s Java use. Unless a settlement takes place soon, look for a 2012 trial.
Qualcomm Inc. (NASDAQ:QCOM) reported a good fiscal quarter four report thanks to strong chip sales. One Morgan Keegan analyst thinks the company stated a conservative earnings per share guidance but it could bring either better-than-expected chip margins or phone shipments. Qualcomm also noted a four-fold increase in its Snapdragon chips for the fiscal year 11, which could be positive for its chip margins. Dig Deeper: QUALCOMM Inc. Earnings Cheat Sheet: Tops Analysts’ Expectations.
Orbitz Worldwide, Inc. (NYSE:OWW) saw its third quarter revenue rise 4 percent year over year to $202.9 million and a $0.15 earnings per share. This beat analysts estimates by $4.6 million and $0.09, respectively. The company still faces a year to date 60 percent market share decline from its competitors, priceline.com Incorporated (NASDAQ:PCLN) and Expedia, Inc. (NASDAQ:EXPE).
The company’s fourth quarter revenue guidance is between $170 million to $174 million on a $178.4 million consensus. The stock is up over 44%.
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