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Aug 25, 2011

Steve Jobs resigns from Apple, Cook becomes CEO

SAN FRANCISCO (Reuters) – Silicon Valley legend Steve Jobs relinquished the reins at Apple Inc to right-hand man Tim Cook on Wednesday, after 14 years in command at a company he brought back from the brink and turned into the world’s largest technology corporation.

Jobs, who fought and survived a rare form of pancreatic cancer and revolutionized the technology arena with the iPhone in 2007, is deemed the heart and soul of a company that started in a garage and is today neck-and-neck with Exxon Mobil in the race to become the largest U.S. corporation.

Aug 17, 2011

HP, Dell hammered as tech-spending outlook darkens

BANGALORE/SAN FRANCISCO (Reuters) – Shares of Hewlett-Packard Co and Dell Inc fell on Wednesday as the outlook for U.S. and European corporate government technology spending dimmed.

Investors had hoped for a rebound in public and enterprise spending on hardware upgrades this year to offset stubborn consumer weakness, but it has yet to fully materialize.

Aug 5, 2011

LinkedIn follows up IPO with strong 2011 outlook

NEW YORK/LOS ANGELES (Reuters) – LinkedIn Corp projected faster-than-expected 2011 revenue growth after chalking up a surprise second-quarter profit, as the professional networking site sets off to prove it can fulfill the promise of its monster IPO and rich valuation.

Shares of the company — whose services are used by professionals seeking jobs or contacts and companies hoping to fill vacancies — climbed almost 5 percent in after-hours trade, recouping some of their 9.6 percent loss during the regular session in which markets tanked.

Aug 4, 2011

LinkedIn expects strong 2011 after doubling sales

NEW YORK/LOS ANGELES (Reuters) – LinkedIn Corp is banking on faster-than-expected revenue growth in 2011, as the professional networking site sets off to prove it can fulfill the promise of its splashy IPO and rich valuation.

LinkedIn — used by professionals seeking jobs or contacts and companies searching for qualified applicants to fill slots — was the first prominent U.S. social networking site to make its public debut. Shares of the company more than doubled its initial public offering price on its first day of trading on the New York Stock Exchange in May, whetting the appetite of investors for a Facebook IPO.

Aug 4, 2011

Google cries foul on Apple, Microsoft mobile gang-up

LOS ANGELES (Reuters) – Google Inc, fresh from losing a bid to buy thousands of patents from bankrupt Nortel, lashed out at its biggest rivals on Wednesday and accused them of banding together to block the Internet giant in the red-hot smartphone arena.

In a rare public outburst, Google Chief Legal Officer David Drummond blasted Microsoft, Apple, Oracle and “other companies” for colluding to hamper the increasingly popular Android mobile software by buying up patents, effectively imposing a “tax” on Android cellphones.

Aug 1, 2011
via MediaFile

Apple’s store of the future, just across the street from Store No. 1

By Mary Slosson

To the legions of Apple fans, any new store from the consumer electronics giant is cause for celebration. But the company’s latest, in Glendale California, is special for two reasons: it’s being touted as Apple Store 2.0, a model for others to come … and it happens to be just across the street from the very first outlet to carry the corporate logo.

Already inviting comparisons to Starbucks — notorious for opening outlets within a stone’s throw of each other — the latest addition the now-331-strong network drew hundreds of devotees to the Americana at Brand mall just north of downtown Los Angeles on Saturday. 

Jul 26, 2011

Baidu sees strong third quarter on China ads

LOS ANGELES/SHANGHAI (Reuters) – China’s top search engine Baidu Inc forecast revenue well ahead of Wall Street’s expectations as large advertisers increased spending, sending its shares up around 7 percent.

Baidu, which has increased its focus on online video and e-commerce, has steadily grown its search market share since Google Inc curtailed its operations after a fallout with Beijing over censorship.

Jul 26, 2011

Baidu sees strong Q3 on China ads; shares jump

LOS ANGELES/SHANGHAI, July 26 (Reuters) – China’s top search
engine Baidu Inc forecast revenue well ahead of Wall
Street’s expectations as large advertisers increased spending,
sending its shares up around 7 percent.

Baidu, which has increased its focus on online video and
e-commerce, has steadily grown its search market share since
Google Inc curtailed its operations after a fallout
with Beijing over censorship.

Jul 15, 2011

Investors toast Google results, shares surge

BANGALORE/LOS ANGELES, July 15 (Reuters) – Shares of Google
Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) surged as much as 13.5 percent on Friday, a day
after blockbuster results and signs of success in mobile and
social networking revived hopes the Internet titan was getting
back on a growth track.

Its shares shot up to $600.25, climbing back to pre-2011
levels on the Nasdaq. If the gain stands by the end of Friday,
it would mark the biggest single-day gain for Google shares
since October 2008.

Jul 1, 2011
via MediaFile

Bob Rubin: Wall Street? America needs Sesame Street

Former Treasury Secretary Robert Rubin was so worried about the current state of political discourse that he went to a billionaire buddy to try to get him to bankroll a TV show, but the deep-pocketed friend turned him down.

Rubin told conference-goers at the Aspen Ideas Festival that both he and former deputy secretary of state Strobe Talbott had approached a friend Rubin declined to name. Their idea, which he told Reuters after the event was never developed, was to appeal to the public the same way “Sesame Street” appealed to youngsters.

    • About Edwin

      "Based in Los Angeles, I oversee company news coverage of much of the U.S. West Coast, including such corporations as Apple, Google and Microsoft. Previously, I was bureau chief for Hong Kong and Shanghai and oversaw coverage for all corporations in China and Hong Kong."
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