Tech Biz Cheat Sheet: Google and Samsung Attack Apple, Yahoo and Demand Media Take Heat
Samsung Electronics unveiled Galaxy Nexus, its inaugural smartphone running on Google’s (NASDAQ:GOOG) latest Android operating system. Called Ice Cream Sandwich, the platform combines software from tablets and smartphones. The phone’s launch is an attempt to compete against Apple’s iOS system. The global launch will take place in November.
Microsoft (NASDAQ:MSFT) CEO Steve Ballmer took a jab at Yahoo (NASDAQ:YHOO) today by saying his company was “lucky” that Yahoo rejected its $44.6 billion takeover bid just prior to the 2008 market crash. Yahoo soon took a dive and today, their struggles continue.
Intel (NASDAQ:INTC) beat third quarter forecasts and saw a bounce in its stock today. After providing a decent fourth quarter guidance, the company is sticking to its story that while there’s consumer weakness in the West, emerging markets and enterprise PC demand is offsetting this. Analysts remained skeptical, inquiring why they haven’t heard this story from PC industry competitors.
Sina Corporation’s (NASDAQ:SINA) stock jumped after a CCTV video praised the country’s Twitter for its influence on social progress.
United Technologies (NYSE:UTX) shares dipped after the company announced a cautious third quarter earnings report. In a Reuters interview, CFO Greg Hayes expressed the gloomy sentiment, “I think 2012 is going to be a tougher year than 2011.”
South regional phone carrier C Spire Wireless announced plans to offer Apple’s (NASDAQ:AAPL) iPhone 4S. The private company, previously called Celluar South, beat a number of rivals to carry the highly coveted phone. C Spire has approximately one million subscribers.
Amazon.com (NASDAQ:AMZN) expanded its licensing agreement with PBS Distribution. Its Amazon Prime members, at no additional cost, will be able to instantly stream current and archived PBS programming. Prime instant videos will number 12,000 by year’s end, doubling the number of titles since its launch.
Demand Media’s (NYSE:DMD) stock took a big dive from the increasing backlash by its freelance writers. The company recently announced an initiative to improve its content quality by allowing some writers to take assignments ahead of others. Demand Media’s stock reached a new 52-week low on high volume.
Sprint’s (NYSE:S) strong iPhone 4S sales may come back to bite them. Reviews and customer forums are relating slow service speeds. Many unhappy customers have taken to photographing and posting the poor speed test results.
ARM Holdings PLC (NASDAQ:ARMH) announced its ARM® Cortex”A7 MPCore” processor. The company says it’s the “most energy-efficient application class processor ARM has ever developed” and it will be used in sub-$100 smartphones. The new processor builds upon on the low-power strides made by its predecessor the Cortex-A8.
Yahoo’s (NASDAQ:YHOO) stock got a lift after the Wall Street Journal reported that company may have four private equity firm suitors for a potential buyout. The deal is rumored to be in the $16 to $18 range.
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