Tech Biz Cheat Sheet: Alibaba Declares War on Baidu, Android Comes Out on Top
Freescale Semiconductor Holdings (NYSE:FSL) is trading lower after cutting its third-quarter sales outlook due to weakness in its industrial and networking business. Semiconductor companies from Altera (NASDAQ:ALTR) to Xilinx (NASDAQ:XLNX) have issued similar guidance cuts as the industry remains weak.
Baidu (NASDAQ:BIDU) is trading lower today after Alibaba’s CEO declares war on the tech company. When asked about his own firm starting a search engine, CEO Jack Ma said he wants “to cause sleepless nights for Baidu.”
Nielsen estimates that, as of August, Google’s (NASDAQ:GOOG) Android accounted for 43% of all smartphones owned in the U.S., up 3% from the previous month, and 56% of smartphones purchases in the U.S. during the previous 3 months. Apple’s (NASDAQ:AAPL) iPhone is believed to account for 28% of smartphones owned and recent purchases, while Research in Motion’s (NASDAQ:RIMM) BlackBerry accounted for 19% of smartphones and 9% of new purchases.
Amazon (NASDAQ:AMZN) has signed a licensing agreement with Fox (NASDAQ:NWSA) to stream the latter’s movies and TV shows through its Prime video service. The deal boosts Amazon’s streaming library to 11,000 titles.
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Eastman Kodak (NYSE:EK) is trading lower after announcing that it borrowed $160 million against its credit line for “general corporate purposes.”