LinkedIn, the social site for business professionals which attracts professionals and job seekers with 100 million worldwide members, is hoping to cash in with a public debut valuing the company at more than $3 billion.
Facebook and Google are separately considering a tie-up with Skype after the Web video conferencing service delayed its initial public offering, two sources with direct knowledge of the discussions told Reuters. A Skype deal could be valued at $3 billion to $4 billion, the first source said. The discussions are in early stages, and it is not clear which option the companies favor, the first two sources said.
Apple refreshed its lineup of iMac computers with new Intel processors that it says are up to 70 percent faster and with USB-like ports that are up to 20 times as fast. Thunderbolt ports support displays and devices. The new iMacs also feature a new HD Web camera. Apple said the iMacs are on sale online and at its retail stores starting at $1,199.
RIM showed off a new version of its BlackBerry Bold phone with upgraded software, aiming to regain its stride after last week’s profit warning and other recent stumbles. RIM also said it will manage corporate and government communications sent using Apple’s iPhone and iPad, and devices running Google’s Android software, through its secure BlackBerry Enterprise Server.
Research in Motion shares tanked to their lowest level since October after the BlackBerry maker slashed its sales and earnings forecasts Thursday, an unexpected blow that followed an anemic forecast in late March and last week’s troubled launch of its PlayBook tablet. “We’ve heard for too long about RIM’s great product roadmap. Consumers are not listening nor waiting,” National Bank analysts said in a note. “RIM does not even seem to have dual cameras on its upcoming BlackBerry product line-up. The last time we checked, video is the future.” All hope seems to rest on what the Canadian company pulls out of its labs and onto center stage at BlackBerry World, starting Monday, where the company will unveil a new generation of touchscreen BlackBerrys.
Microsoft reported a dip in quarterly sales of its core Windows operating system, mirroring a recent downturn in personal computers. The world’s largest software company met Wall Street profit estimates, as strong sales of its Office suite of applications and game systems took up the slack. “Microsoft to me is no longer a growth stock but it is a very attractive value stock. They continue to generate tremendous free cash flow. Their balance sheet is really unmatched,” Channing Smith of Capital Advisors said.
Apple denied it is tracking the movements of its iPhone customers, but said it will provide a software update that stores less location information on phones in response to public outcry over privacy issues. Apple plans to release a software update that would cut the size of the wireless hotspot location database stored on its iPhones, and stop backing up that information. The software will be released in the next few weeks, it said.
Apple has completed work on an online music storage service and is set to launch it ahead of Google, whose own music efforts have stalled, according to several people familiar with both companies’ plans. The sources revealed that Apple’s plans will allow iTunes customers to store their songs on a remote server, and then access them from wherever they have an Internet connection and that Apple has yet to sign any new licenses for the service and major music labels are hoping to secure deals before the service is launched. Amazon.com launched a music locker service earlier in April without new licensing agreements leading to threats of legal action from some music companies.
Apple reported quarterly revenue of $24.67 billion on strong iPhone and Mac sales, racing past Wall Street estimates. In the quarter, the company sold 18.65 million iPhones and 3.76 million Macintosh computers. Analysts expected 16.3 million and 3.64 million, respectively. Sales of iPads and iPods fell short. The number of iPads sold was 4.69 million, shy of the 6.3 million expected. Sales of iPods were 9 million, versus expectations of 9.85 million.