Tech Business Roundup: TV Wars Heat Up, Yahoo Degree-Gate Won’t Go Away
A Google-powered (NASDAQ:GOOG) Internet-enabled TV is expected to intro in the U.S. in two weeks by LG Electronics (LGEAF.PK). The product represents as assertive drive to counter Apple’s (NASDAQ:AAPL) much rumored iTV, which will feature a much larger Cinema Display, according to insider sources, says Cult of Mac. In agreement with previous rumors, the same source reveals that the TV will include Siri, and an iSight camera to enable FaceTime video calls.
Intel (NASDAQ:INTC) reports that it will increase its quarterly dividend by 7 percent to 22.5 cents a share, beginning with the payout that will be declared for the third quarter. With expectations pointing to another record year, Intel CEO Paul Otellini remarks that his company is experiencing “strong demand in our core business and significant progress in smartphones and other new growth areas.”.
Cree (NASDAQ:CREE) shares bounce following the news of an LED lighting control system in partnership with Lutron Electronics. The firm is searching for business customers willing to pay the higher prices attached to LED lighting products, and the solution will be available by this summer.
Investing Insights: Why is Comcast Looking to Exit This Joint Venture?
Facebook’s (FB) upcoming initial public offering is again at the top of analysts’ comments on Monday. Sterne Agee’s Arvind Bhatia and Wedbush are taking bullish stances, and the former believes that FB can increase its share of online advertising to 8 percent in 2016 from 5 percent in 2011, and also that mobile and China could be source of impressive growth in the future. Bhatia forecasts the firm’s 2013 revenue nearing $6.3 billion, and earnings per share of 69 cents. As for Mark Zuckerberg, Henry Blodget contends that his unique leadership style is an asset to his company’. Some notable traits of Zuckerberg’s style include a laser-like focus on optimizing Facebook’s products; a willingness to “break” existing products in order to launch new ones; and an ability to both hire top talent and let go of old employees.
More Degree-Gate morsels, as Yahoo (NASDAQ:YHOO) doesn’t respond (so far) to activist shareholder Dan Loeb’s demand that CEO Scott Thompson be fired today for discrepancies involving his false claim for a computer science degree. Kara Swisher opines that the board, while busy on matters that are more urgent, is waiting upon a more thorough inquiry into the situation, i.e., how the wrong degree got onto Thompson’s resume and why he failed to correct it. Loeb, however, is not waiting for anything; he is suing for information connected to Thompson’s hiring, and the appointment and/or selection of several board members, as well.
Microsoft (NASDAQ:MSFT) now offers a rumored Xbox 360 package which features a Kinect sensor for the price of $99, on purchase of a 2-year contract to its Xbox Live Gold service at $15 per month. However, this arrangement is currently available solely in Microsoft Stores, which increases the company’s retail footprint, but not by all that much
Web.com (NASDAQ:WWWW) shares slide late, following news that insiders will divest 8 million (16 percent of all outstanding) shares in a secondary sale.
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