Tech Biz Roundup: Zynga in the Facebook Halo, Sony’s Crushing Loss
Amazon (NASDAQ:AMZN): Consumers may not cozying up to the Kindle Fire. A survey from ChangeWave says buying interest for the device is down from 17 percent to 12 percent. Over half of the Survey participants, 54 percent, said they are “very satisfied” with the Kindle Fire. A notable difference from Apple (NASDAQ:AAPL) iPad owners at 74 percent. While owners liked some features, easy use, display and cost, they felt the device needed a camera and volume buttons.
Don’t Miss: Record Number of Free iPhone Apps Downloaded.
Dell (NASDAQ:DELL) hires John Swainson former chief executive officer of Computer Associates Inc. Swainson was named to head the company’s new software group. Dell wants to be more competitive with its end-to-end solution for customers. J.P. Morgan raised shares to Overweight.
Sony (NYSE:SNE): Suffering big losses in the third fiscal quarter, Sony may not be out the woods yet. After announcing plans to hire a new chief executive officer, Kazuo Hirai said, “I have a very strong sense of crisis about the environment surrounding us.” One Asian analyst thinks the company has problems that “will take years to fix…” citing a lack of innovation, “in almost every major area.”
Investing Insights: Sony Reports Staggering Loss.
Zynga (NASDAQ:ZNGA) generated 12 percent of Facebook’s revenue in 2011. The company’s stock spiked 16.5%. Other companies riding Facebook’s initial public offering include Renren Inc (NYSE:RENN), Groupon Inc (NASDAQ:GRPN), Linkedin Corporation (NYSE:LNKD), Youku Inc (NYSE:YOKU), Jiayuan.com International Ltd (NASDAQ:DATE), and SINA Corporation (NASDAQ:SINA).
JDS Uniphase (NASDAQ:JDSU) took a downturn, when UBS downgraded the company form Buy to Neutral on disappointing guidance. Operating margins for the March quarter were forecast at a range of 6-7.5 percent. UBS lowered target from $14.50 to $13 with its Neutral rating.
Don’t Miss: Zynga Gains From Facebook’s IPO.
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