Tech Business Roundup: Redbox and Verizon Attack Netflix, Amazon’s New Stores
In Facebook’s initial public offering filing last week, it admitted it doesn’t generate any “meaningful revenue” from its mobile products, which “may negatively affect our revenue and financial results.” Next month its plan is to start showing advertisements to cellphone users in an attempt to succeed where Google (NASDAQ:GOOG) and Twitter have so far fallen flat, the FT reports.
Amazon (NASDAQ:AMZN) reportedly plans to open a Seattle retail store. It will focus on selling Kindle e-readers, the Kindle Fire tablet and related accessories.
Investing Insights: Paradigm Shift: Smartphones Eclipsed PCs in Fourth Quarter.
TiVo (NASDAQ:TIVO) is up over 5% premarket on a Barron’s weekend report. The report says Microsoft (NASDAQ:MSFT) or Google (NASDAQ:GOOG) could target the provider of digital-video recorders for acquisition. Software patent victories and advanced hardware also have made shares attractive again, the article says.
Verizon (NYSE:VZ) and Coinstar (NASDAQ:CSTR) announce a joint venture, the product result of which will be introduced in the second half of 2012. The firms say it will create a subscription service combining new release DVD and Blu-ray rentals with streaming download options.
Microsoft (NASDAQ:MSFT) continues to develop its mobile app portfolio announcing plans to sell iOS, Android, BlackBerry, and Windows Phone versions of its Dynamics customer relationship management software in the second quarter. The software and related services will sell for $30/month. This is $35/month cheaper than services from Salesforce.com (NYSE:CRM). In the fourth quarter Microsoft’s Dynamics business posted double-digit growth.
Barnes & Noble (NYSE:BKS) Books-A-Million (NASDAQ:BAMM) and Canandian bookstore chain Indigo Books join forces refusing to stock titles published by Amazon (NASDAQ:AMZN). The boycotts come ahead of Amazon’s release of high-profile titles brought to market by former Time Warner CEO Larry Kirshbaum.
Sohu.com (NASDAQ:SOHU) guidance is a disappointment. Majority-owned online game developer Changyou.com (NASDAQ:CYOU) share decline also takes a toll on some recent gainers from the Chinese Internet stocks. Sina Corporation (NASDAQ:SINA), Baidu.com Inc. (NASDAQ:BIDU), and Renren Inc. (NYSE:RENN) are all dwindling. However, gaming concern Perfect World (NASDAQ:PWRD) is up interestingly enough; perhaps out of a belief that Sohu/Changyou’s loss is Perfect World’s gain.
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