Tech Biz Cheat Sheet: Google Goes Alternative, Apple Slashes iPad Orders
Google (NASDAQ:GOOG), partnering with Clean Power Finance, is investing $75 million to have solar panels installed on 3,000 homes. Homeowners would pay Google a monthly fee that would be the same or less than what the local utility would charge.
Sprint (NYSE:S) has announced plans to launch Sprint Direct Connect, a push-to-talk service with broadband, added features, rugged handsets, and an expanded coverage map, on October 2.
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Apple (NASDAQ:AAPL) has announced that it will be hosting an iPhone-related event on October 4, a date that previous rumors have pegged as the launch of the iPhone 5, and perhaps a cheaper iPhone for prepaid markets.
Apple (NASDAQ:AAPL) has reportedly slashed its fourth-quarter iPad orders, though DigiTimes notes that Apple has notoriously given high order estimates during negotiations only to pare them back later.
Research in Motion (NASDAQ:RIMM) is trading higher today on rumors that Carl Icahn is building a stake in the company.
Sequans Communications (NYSE:SQNS) has announced that its TD-LTE 4G chips will be used in USB modem cards from Huawei Technologies, which will in turn be used on a TD-LTE trial network set up by China Mobile (NYSE:CHL), the world’s largest wireless carrier. China Mobile plans to roll out TD-LTE services next year.
InterDigital (NASDAQ:IDCC) has announced it will explore strategic options, which could include a sale of the company or select assets. Reports that the company had received buyout offers of only $1 billion to $2 billion, less than its market capitalization, had shares down 15% yesterday, but shares have since rebounded nearly 7%.
Dish Network (NASDAQ:DISH) reportedly made the highest offer for Hulu during the first round of bidding for the streaming-video service, at $1.9 billion. However, Google (NASDAQ:GOOG) made an informal offer of $4 billion in exchange for more lucrative content licensing rights. Hulu’s owners — NBCUniversal (NASDAQ:CMCSA), Fox (NASDAQ:NWSA), Disney (NYSE:DIS), and Providence Equity Partners – are now reportedly on the fence about selling the site.
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Perfect World (NASDAQ:PWRD) plans to buy 3.5 million shares under the online game operators $100 million repurchasement program set to expire in March of next year.