Tech Biz Cheat Sheet: Nokia Slaps RIMM, Amazon Blows Up 12.66%
SAP AG (NYSE:SAP) reported strong third quarter earnings with a 23 percent profit increase to EUR $1.13 billion ($1.57 billion), exceeding analysts’ expectations of EURO $1 billion. Revenue also rose 14 percent to EUR $3.41 billion, with license sales increasing 28 percent to EUR $841 million. The future looks bright for SAP with a fiscal-year forecast seeing 10 to 14 percent growth in software and related services with an operating profit at EUR $4.45-4.65 billion.
Research in Motion (NASDAQ:RIMM) will delay its BlackBerry PlayBook OS 2.0 tablet until February 2012. In a company blog post, David J. Smith, SVP, BlackBerry PlayBook, Research In Motion wrote, “We’ve made the difficult decision to wait to launch BlackBerry PlayBook OS 2.0 until we are confident we have fully met the expectations of our developers, enterprise customers and end-users.”
Super Hot Feature: Research in Motion Continues to Self-Destruct in Slow Motion.
Sprint Nextel Corporation (NYSE:S) reported additional positives in its third quarter earnings report: an increase of 1.1 million net subscribers from the second quarter, a 7 percent increase in its wireless service revenue as compared to the previous year and a postpaid ARPU rise of $1 quarter over quarter and $3 year over year. The third quarter declines included a $273 million free cash flow drop from the second quarter’s $267 million.
Nokia (NYSE:NOK) announced it Lumia 800 Windows Phone (NASDAQ:MSFT) today with hopes that will give the company a much-needed new lease on life in the competitive smartphone market. One reviewer noted a resemblance to Nokia’s N9 MeeGo phone; however, one operating difference is the Qualcomm (NASDAQ:QCOM) chip in the Lumia 800 vs the N9’s Texas Instrument (NYSE:TXN) chip. But Is This Nokia’s Apple Killer?
Amazon (NASDAQ:AMZN) reported a disappointing third quarter earnings report and now its having a domino effect on its rivals stocks including eBay (NASDAQ:EBAY), Barnes & Noble (NYSE:BKS) and Overstock.com (NASDAQ:OSTK). Adding a little fuel in the fire to Barnes and Noble, who has its Nook tablet, may be Amazon’s recent comments that it’s increased production of the Kindle Fire tablet.
Don’t Miss: Amazon and 2 Stocks Slamming the S&P 500.