Wall Street Brief: Facebook’s Zuckerberg SPEAKS, iPhone 5 Day is HERE!
It’s D-Day for Apple Inc. (NASDAQ:AAPL) as it releases its new iPhone 5 today. The phone will be thinner, offer 4G cellular technology, include a larger screen, run on the new iOS 6 and come with an enhanced Siri. One frustrating change may be a new proprietary charger. Investment banker Rajeev Chand has said the device will have to be “a major step up” with its high expectations, but the iPhone 4S received a lukewarm reception and has found great success.
Don’t Miss: Apple DOMINATES Mobile Ads.
On Tuesday, Facebook’s (NASDAQ:FB) Mark Zuckerberg tried to smooth over concerns regarding the company’s mobile monetization. He predicted his company will make more money off mobile at some point than from PCs. Zuckerberg did say that Facebook embraced HTML5 a little too early, which contributed to the weak performance of its mobile apps. In regards to Facebook’s “disappointing” share price it “doesn’t help” as an employee incentive.
Ford’s (NYSE:F) directors are scheduled to meet on Wednesday where they’ll discuss a major issue affecting the automaker: CEO Alan Mulally’s retirement. Waiting in the possible wings is Mark Fields, President of the Americas, who is poised for a promotion to COO; this sets him up as Mulally’s probable successor, reported Bloomberg.
Microsoft (NASDAQ:MSFT) isn’t done developing Windows Phone 8, reported The Verge. It is “working overtime” with Nokia (NYSE:NOK) to ensure that OS meets its October 29 launch date. Should a major delay occur, Nokia would face a large competitive problem as its Lumia 920 and 820 WP8 phones will likely begin selling behind Apple’s (NASDAQ:AAPL) new iPhone.
Unsealed Bain court documents show how it, Blackstone (NYSE:BX), Goldman Sachs‘ (NYSE:GS) private equity arm and other firms have been shown to collude on bids for companies they were purchasing to keep prices lower, reported the New York Times. From Bain’s 2006 $32.1 billion acquisition of HCA, rival suitors agreed to “stand down” in an understanding to break up the acquisition of other firms. The documents come from a lawsuit against private equity companies for allegedly fixing bids.