About 1,000 years ago, while I was working at Reuters, I did a couple of really smart things: I bought shares in a dial-up Internet company with a mere million or so users, and a web search and catalogue service with a very funny name.
So, Apple can survive without Steve Jobs as CEO after all. At least that’s the message that was sent by Apple investors today. Apple shares, which took a beating in after-hours trade on Wednesday after the company announced Jobs’s departure, stabilized on Thursday and were down about 1 percent. Investors, at least for now, appear convinced that Apple can keep churning out blockbuster products and oversized profits with new CEO Tim Cook in charge.
Apple Inc’s increasingly effective patent war against rivals like Samsung Electronics may mask its real target: arch-foe Google Inc. Poornima Gupta writes: “Recent success in blocking sales of Samsung’s latest Galaxy tablet in most of Europe and Apple’s challenges to the Korean giant in Australia reflect an aggressive effort to defend its top position in the red-hot mobile market from the runaway success of Android.”
Netflix says it’s expecting its subscriber growth in the United States to slow in the coming quarter. The warning to investors came as the popular video rental company also reported second-quarter revenue that missed Wall Street expectations. The double-shot of bad news sent the company’s shares down about 9 percent in late trading.
By Maureen Tkacik
The views expressed are her own.
A few weeks ago I read an astonishing story about an army of lobbyists who had stormed Capitol Hill bent on repealing a law passed last year, thanks largely to the energies of a rival battalion of lobbyists. The dueling industries had spent tens of millions enlisting 242 former legislative officials to badger their replacements over a single vote.
AOL CEO Tim Armstrong and Editor in Chief of The Huffington Post Arianna Huffington joined us Monday for the premiere of the 2011 Reuters Global Technology Summit.
Facebook signaled an increased interest in deals, poaching a member of Google’s corporate development team to lead its fledgling merger and acquisition efforts and underscoring the rivalry between the social networking company and the search engine giant.
AOL cut more than 900 jobs around the world today — 20 percent of its staff — and India took a pretty tough cut from the axe: 400 jobs, according to several sources, and 300 contractors, according to another source. The nice thing for Reuters is that we have a big bureau in Bangalore, not too far from AOL, and plenty of our people know other people there and were able to get important details about the job cuts.