West Coast Financial Editor in Charge
Edwin's Feed
Jul 29, 2014

Twitter’s user growth beats targets, shares skyrocket

SAN FRANCISCO (Reuters) – Twitter Inc’s (TWTR.N: Quote, Profile, Research, Stock Buzz) monthly active users rose a better-than-expected 24 percent in the second quarter as the online messaging service mostly succeeded in stemming a dwindling pace of growth, sending its shares soaring almost 30 percent.

Twitter, which has battled to reverse a steady decline in its once-heady pace of user growth, saw users increase to 271 million, still dwarfed by rival Facebook Inc’s (FB.O: Quote, Profile, Research, Stock Buzz) 1.3 billion. Wall Street analysts had been expecting a pace of growth closer to 21 percent.

Jul 22, 2014

Apple revenue lags Street’s view despite strong China growth

SAN FRANCISCO (Reuters) – Apple Inc posted a smaller-than-expected 6 percent rise in quarterly revenue on Tuesday, but revenue surged 28 percent in greater China despite stiff competition in its third-largest market.

It sold 35.2 million iPhones in the June quarter, a rise of about 13 percent that was in line with analysts’ projections, helped by a strong performance in an Asian market considered crucial to Apple’s longer-term growth prospects.

Jul 21, 2014

Fund managers unconvinced by Apple rebound as firm readies results

NEW YORK/SAN FRANCISCO, July 21 (Reuters) – Apple, once a
can’t-miss stock, is finding it tough to persuade portfolio
managers to come back into the fold.

The company’s shares are up 17 percent for the year, nearly
three times the performance of the benchmark Standard & Poor’s
500 stock index over the same time. Yet the company
remains one of the most significantly underweighted stocks among
large cap fund managers, according to a Goldman Sachs report.

Jul 16, 2014

PayPal fuels higher eBay revenue even as cyber attack, rivals weigh

SAN FRANCISCO (Reuters) – EBay Inc posted a 13 percent rise in quarterly revenue on Wednesday, as better-than-expected results from its fast-growing PayPal division helped the online retailer overcome increasing competition from Amazon.com Inc and a well-publicized cyber attack.

Investors had been braced for a tough quarter.

Ebay’s stock has fallen more than 8 percent since April, hurt by the cyber attack disclosed in May that compromised data for some 145 million customers, the departure of highly regarded PayPal chief David Marcus, and intensifying competition from both online and offline rivals.

Jun 2, 2014

Apple unwraps ‘Healthkit’ alongside Mac, iPhone features

SAN FRANCISCO (Reuters) – Apple Inc on Monday took the wraps off mobile applications that pool and analyze health and home data, kicking off an annual developers’ conference lacking in big surprises, despite hopes the iPhone maker would offer a glimpse into its secretive pipeline of products.

Apple Chief Executive Tim Cook and software-engineering boss Craig Federighi told several thousand developers about new features that come with the latest “Yosemite” Mac platform and iOS8, the software that powers the iPhone and iPad.

May 28, 2014

Australian Apple users report ‘lost phone’ cyber attack

SAN FRANCISCO/SYDNEY (Reuters) – Multiple users on Apple Inc’s online support forum and Twitter have reported an unusual smartphone and tablet hack in which cyber attackers were said to have locked Australian users’ smartphones and demanded payment in return for unlocking them.

The alleged cyber attackers, first reported by The Sydney Morning Herald, appeared to use Apple’s “Find My Phone” feature to lock the devices’ screens and send a message demanding money be sent to a PayPal account, according to multiple users. The anti-theft feature locks phones that are reported lost.

May 22, 2014

HP may cut up to 16,000 more jobs as results disappoint

SAN FRANCISCO (Reuters) – Hewlett-Packard Co plans to cut as many as 16,000 more jobs in a major ramp-up of CEO Meg Whitman’s years-long effort to turn around the personal computer maker and relieve pressure on its profit margins.

On Thursday, the company posted a disappointing 1 percent drop in quarterly revenue, as it struggled to maintain its grip on the shrinking personal computer market while protecting profit margins. That marked its 11th consecutive quarterly sales decline.

May 9, 2014

Apple sings a different tune with Beats deal

SAN FRANCISCO (Reuters) – Apple Inc’s plan to pay $3.2 billion for Beats Electronics, which makes headphones and has an up-and-coming streaming music service, may herald a bolder use of its swelling cash pile and galvanize the iPhone maker’s move into wearables.

Investors are still struggling to make sense of why CEO Tim Cook would break Apple’s decades-long tradition of relatively minor acquisitions of about $200 million to $400 million. Most observers say it’s going after a mix of technology and music industry talent in an effort to revive digital music sales.

Apr 28, 2014

Wall Street remains split on Twitter’s prospects

SAN FRANCISCO (Reuters) – There was a time when Twitter strove not to end up like Facebook.

As the social media phenom prepared to debut in November, the last thing it wanted was a repeat of its larger rival’s rocky IPO and subsequent sell-off. Now, the one-time Wall Street darling’s inability to replicate its bigger cousin’s success in mobile and online may be what holds it back.

Apr 24, 2014

Apple resets the clock as investors await next big thing

SAN FRANCISCO (Reuters) – Apple Inc just bought itself some much-needed time.

On Wednesday, the company surprised Wall Street with news that it sold more iPhones in the March quarter than even the most bullish analysts had expected. It threw another $30 billion into an already sizeable stock buyback program and instituted an 8 percent quarterly dividend increase to boot. And profits rose by an unexpected 7 percent.

    • 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."
    • Follow Edwin