Tech Business Recap: Google Bashes SOPA, Sprint Drops Carrier IQ
Google (NASDAQ:GOOG), Wikipedia and Reddit are leading a 24-hour protest today against Stop On-line Piracy Act (SOPA) and other anti-online piracy legislation. Google has a link about the issue on its homepage, while Wikipedia has shut down English-language services.
MEMC Electronic (NYSE:WFR) issued downward guidance for fourth quarter earnings per share and revenues. CEO Ahmad Chatila said, “We responded to the continuing cyclical downturn in the semiconductor industry and the severe market disruption in the solar market by taking decisive action through a significant restructuring.”
Don’t Miss: Timing of Solar Projects Burns MEMC.
Google (NASDAQ:GOOG) is being investigated for misuse of its market position. The European Union Competition Commissioner Joaquin Almunia will decide at the end of March whether to file a formal complaint against GOOG, which would be earlier than expected. It faces a fine of up to 10% of its annual turnover if found guilty.
Broadcom (NASDAQ:BRCM), a leader in both Wi-Fi and video processing chip markets, is hoping its products are found in many “smart-TV’s” and other web-enabled home entertainment devices. So is Qualcomm (NASDAQ:QCOM), which acquired Wi-Fi chip specialist Atheros last year. In-Stat expects the number of in-home devices with built-in Wi-Fi to approach 600 million in 2012.
Investing Insights: Tech Stock Insights: Fusion-IO Overweight, Avago Tech and Neptune Tech a Buy.
Nokia (NYSE:NOK) faces pressure to lower the cost of its next smartphone in the United Kingdom in order to help boost sales. The Lumia is seen as needing a push to gain consumer interest after sales of the first Windows offering from the fell flat in Europe.
Adtran (NASDAQ:ADTN) a Telecom equipment maker jumps up after reporting fourth quarter revenue of $175.3 million (up 6% year-over-year) and earnings per share of $0.48. It beat consensus by $0.6 million and $0.01. Strong growth in Broadband Access and Internetworking revenue offset declining legacy product sales. Adtran guided for flat quarter-over-quarter revenue growth, during its earnings call this morning.
Sprint (NYSE:S) tells MSNBC that the firm is removing controversial Carrier IQ software from all of its phones through over-the-air updates. The move follows an acknowledgement and fall-out from the unveiling a tech researcher gave that Carrier’s software can track user activity.
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