Apple (NASDAQ:AAPL): Just prior to the release of Apple’s iTunes Radio on iOS 7, Microsoft (NASDAQ:MSFT) has launched its Xbox Music streaming program, which is free for Web users, and the corresponding mobile apps for iOS and Android. In efforts to push users toward its Xbox Music Pass subscription service, Microsoft is offering six months of ad-free streaming, including access to content from a Web client and other devices.
Dell Inc. (NASDAQ:DELL): Carl Icahn says he won’t “pursue additional efforts” to defeat Michael Dell and Silver Lake’s leveraged buyout bid, noting that it would be “almost impossible” to prevail in Thursday’s shareholder vote. Icahn’s bid was essentially the last barricade to Michael Dell’s bid, which was made up of a $13.75 per share offer with a 13 cent per share special dividend and a guaranteed 8 cent per share quarterly dividend payment.
Wells Fargo (NYSE:WFC): Wells Fargo said while presenting at the Barclays Financial Services Conference that mortgage revenue, both from gain on sale margin and originations, is expected to continue to decline in the third quarter. Seeking Alpha points out that the bank has been cutting its expenses in the mortgage division as “employment ramped up by 10,000 to about 18,000 in the two years ending in the first quarter, but declined in the second quarter. Nearly another 3,000 cuts have been announced thus far in the third quarter.”
Disney Co. (NYSE:DIS): Disney has landed a potentially gigantic deal as Chinese Internet juggernaut Tencent agreed to a licensing deal for Disney, Pixar, and Marvel content. Terms were not laid out, though any additional exposure to the Chinese populace could provide benefits to the company and, in particular, Disney Shanghai.