Verizon Blames Apple for Slow iPhone 5 Sales and 3 Dow Movers to Know Now
Microsoft Corporation (NASDAQ:MSFT), earlier in October, invited the media to its event set for October 29th. The Microsoft event, to occur in San Francisco, will be the official launch for its much-anticipated Windows Phone 8 platform. Meanwhile, Google has also sent invitations to the media for its own event to take place on the morning of October 29th the same day. The invite’s tagline reads, perhaps appropriately, “The Playground Is Open,” also noting that the event will be themed around Android. Thus far, these are the only clues supplied by Google as to what attendees might expect at the event.
The Travelers Companies (NYSE:TRV) has issued a statement that says, “We are very pleased with our strong results this quarter. Our underwriting performance reflected a GAAP combined ratio of 90.3 percent, which benefited from lower weather-related losses as well as the rate gains we have achieved during the past year. Net investment income benefited from strong results in our non-fixed income portfolio. We are also very pleased with our continued execution in the marketplace, noting in particular that we once again achieved written rate gains across each of our segments.”
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Verizon Communications (NYSE:VZ) sold 3.1 million iPhones in the last quarter, but only 651,000 were the new iPhone 5. Apple’s iPhone 5 supply difficulties were blamed for this, rather than lack of demand, and the amazingly low number of iPhone 5s sold during their first week off of store shelves. The smartphone went on sale on September 21st, which was 10 days before the end of the third quarter, but Wall Street analysts still figured on an iPhone 5 sales number nearly twice as high as the one seen in actuality.
Amazon.com(NASDAQ:AMZN) is seeing hard times in its foray into the publishing business, says the Wall Street Journal. Not helping is Barnes & Noble’s (NYSE:BKS) boycott because of Amazon’s decision to limit some authors and publishers to arrangements that will allow their books to be available only to Amazon customers.
Investing Insights: Verizon Earnings: Here’s Why Investors Are Bidding Shares Up.