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| Electronic Arts slashes 2013 outlook as industry struggles Wednesday, Jan 30, 2013 05:32 PM PST SAN FRANCISCO (Reuters) - Electronic Arts Inc slashed its fiscal 2013 earnings forecast after a weaker-than-expected holiday quarter marked by disappointing sales of its "Medal of Honor" title, as the industry struggles with flagging demand. The games maker forecast non-GAAP revenue for the year to end-March of $3.8 billion to $3.9 billion and earnings of $0.86 to $1.00 per share from $1.00 to $1.15 per share previously, down about 13 percent at the mid-point. ... Full Story | Top |
| Facebook's mobile ad revenue doubles in fourth quarter Wednesday, Jan 30, 2013 05:19 PM PST  SAN FRANCISCO (Reuters) - Facebook Inc doubled its mobile advertising revenue in the fourth quarter, a sign that the No.1 social network is seeing early success in expanding onto handheld devices as more of its users migrate to smartphones and tablets. Investors want to see evidence that CEO Mark Zuckerberg's 8-year-old company is delivering on promises to develop a full-fledged mobile advertising business, a challenge facing many of today's technology leaders including Google Inc. But the growth trailed some of Wall Street's most aggressive estimates. ... Full Story | Top |
| Fusion-io cuts 2013 forecast as Apple, Facebook delay orders Wednesday, Jan 30, 2013 05:18 PM PST (Reuters) - Fusion-io Inc slashed its fiscal 2013 revenue forecast as key customers Facebook Inc and Apple Inc delayed orders, sending the storage drive maker's shares down 21 percent after the bell. "... The change in our guidance reflects a two-quarter shift in the timing of their bulk purchases," Fusion-io Chief Financial Officer Dennis Wolf said in a statement. Facebook accounted for 30 percent of Fusion-io's total sales of $359.3 million in its previous financial year, while Apple contributed 25 percent. ... Full Story | Top |
| Qualcomm profit beats street, raises guidance; shares rise Wednesday, Jan 30, 2013 04:27 PM PST  NEW YORK (Reuters) - Qualcomm Inc , the world's leading supplier of chips for cellphones, reported quarterly earnings and revenue that beat Wall Street expectations and raised its financial targets for 2013 due to growing demand for smartphones and high-speed wireless services. Qualcomm shares rose 6.4 percent in late trade on Wednesday as its outlook wowed investors, in contrast to sluggish demand at other chip makers such as Texas Instruments and Broadcom Corp . ... Full Story | Top |
| RIM rebrands as BlackBerry; launches nifty new devices Wednesday, Jan 30, 2013 04:04 PM PST  NEW YORK (Reuters) - Research In Motion Ltd on Wednesday unveiled the long-delayed line of smartphones it hopes will put it on the comeback trail, but it disappointed investors by saying U.S. sales of its all-new BlackBerry 10 devices will not start until March, sending its share price tumbling 12 percent. Chief Executive Thorsten Heins also announced that RIM was abandoning the name it has used since its inception in 1985 to take the name of its signature product, signaling his hopes for a fresh start for the company that pioneered on-your-hip email. ... Full Story | Top |
| Qualcomm beats street, raises guidance, shares rise Wednesday, Jan 30, 2013 03:03 PM PST NEW YORK (Reuters) - Qualcomm Inc beat Wall Street expectations for its fiscal first-quarter earnings and revenue and raised its financial targets for 2013 due to growing demand for smartphones and high-speed wireless services. Qualcomm shares rose 6 percent in late trade on Wednesday as the outlook from the leading supplier of chips for cellphones wowed investors in contrast with sluggish demand at chip makers such as Texas Instruments and Broadcom Corp . ... Full Story | Top |
| Fusion-io sees weak third quarter as Apple, Facebook delay orders Wednesday, Jan 30, 2013 02:37 PM PST (Reuters) - Storage drive maker Fusion-io Inc forecast current-quarter revenue below analysts' estimates as Facebook Inc and Apple Inc delayed bulk orders, sending its shares down 21 percent after the bell. "... The change in our guidance reflects a two-quarter shift in the timing of their bulk purchases," Chief Financial Officer Dennis Wolf said in a statement. Facebook accounted for 30 percent of Fusion-io's total sales of $359.3 million in the year ended June 30, while Apple accounted for 25 percent. ... Full Story | Top |
| Instant View: Facebook ad revenue climbs as mobile expands Wednesday, Jan 30, 2013 02:09 PM PST SAN FRANCISCO (Reuters) - Facebook Inc advertising business grew at its fastest clip since before the company's May initial public offering, helping the company's revenue expand 40 percent to $1.585 billion. Commentary: BRIAN WIESER, ANALYST, PIVOTAL RESEARCH GROUP "They were favorable results and overall consistent with our view of the stock. They did much better on mobile advertising than we had expected. "Because of the rising mobile revenue, we think that's driving the expenses up. "Sticker shock" from higher expenses may have caused the initial stock drop. ... Full Story | Top |
| RIM, now known as BlackBerry, launches new BB10 line Wednesday, Jan 30, 2013 12:13 PM PST NEW YORK (Reuters) - Research In Motion Ltd unveiled the long-delayed line of smartphones it hopes will put it on the comeback trail on Wednesday but it disappointed investors by saying U.S. sales of its all-new BlackBerry 10 will start only in March. Chief Executive Thorsten Heins also announced that RIM was abandoning the name it has used since its inception in 1985 to take the name of its signature product, signaling his hopes for a fresh start for the company that pioneered on-your-hip email. "From this point forward, RIM becomes BlackBerry," Heins said at the New York launch. ... Full Story | Top |
| Top U.S. firms open to voluntary cybersecurity rules: Senate Wednesday, Jan 30, 2013 10:33 AM PST  WASHINGTON (Reuters) - Many Fortune 500 companies support the creation of federal cybersecurity standards to protect them from Internet threats like hacking as long as they are voluntary, according to a Senate survey of top U.S. chief executives released on Wednesday. The report resulted from letters sent to Fortune 500 companies in September by Senator Jay Rockefeller, the Democrat from West Virginia who last year authored a now-expired cybersecurity bill and is now renewing his push for such legislation. ... Full Story | Top |
| Instant View: RIM launches long-awaited BlackBerry 10 Wednesday, Jan 30, 2013 09:23 AM PST (Reuters) - Research In Motion Ltd on Wednesday unveiled a long-delayed line of smartphones it hopes will return the company to the top of a market it once dominated, promising its BlackBerry 10 devices will wow consumers and businesses alike when they hit store shelves. The company also announced that it was changing its name to BlackBerry, hoping for brighten its tarnished image as it launches the BlackBerry 10. Here is some early reaction to the launch: CHARLES GOLVIN, WIRELESS ANALYST, FORRESTER RESEARCH: "The keyboard is really fantastic. ... It learns about you ... ... Full Story | Top |
| RIM to rename itself BlackBerry, hoping for fresh start Wednesday, Jan 30, 2013 08:29 AM PST NEW YORK (Reuters) - Research In Motion Ltd is changing its name to BlackBerry, the company announced on Wednesday, in move to refresh its tarnished image as it begins marketing a reengineered line of BlackBerry 10 smartphones. The announcement, made by Chief Executive Thorsten Heins as the company formally launched the BlackBerry 10, signals the company's hopes for a streamlined identity as it embarks on a make-or-break drive to regain lost ground in the smartphone market it once dominated. ... Full Story | Top |
| Alcatel-Lucent's credit facility raised to 2 billion euro Wednesday, Jan 30, 2013 07:48 AM PST PARIS (Reuters) - Telecom equipment maker Alcatel-Lucent said on Wednesday its credit facility underwritten by Credit Suisse and Goldman Sachs has been raised to 2 billion euros from an initial 1.6 billion euros following strong investor demand. "Alcatel-Lucent confirms that the proceeds will be used for the refinancing of certain existing indebtedness and for working capital and general corporate purposes," the statement said. ... Full Story | Top |
| Fidelity Contrafund cut Apple stake 3 percent in December Wednesday, Jan 30, 2013 06:58 AM PST BOSTON (Reuters) - Portfolio manager Will Danoff, whose $85 billion Fidelity Contrafund is the largest active shareholder in Apple Inc, trimmed his holdings in the maker of the iPhone by 3.1 percent in December. Apple remains the top holding in Contrafund, according to the latest disclosures by Boston-based Fidelity on Wednesday. Under Danoff, Contrafund has been the best performing large-cap growth fund over the past 20 years, posting an annual total return of 10.59 percent, according to Lipper Inc, a Thomson Reuters unit. ... Full Story | Top |
| Lenovo to grow profit 20-30 percent in next few years: CFO Wednesday, Jan 30, 2013 05:39 AM PST NEW DELHI (Reuters) - China's Lenovo Group Ltd aims to increase net profit by 20-30 percent in the next few years, Chief Financial Officer Wong Wai Ming told reporters in New Delhi on Wednesday, without giving details. Lenovo, on track to become the world's top personal computer maker, earlier reported a record profit for the December quarter, up by a third from the year earlier. Growing market share in the PC market helped Lenovo as it made inroads in the smartphone business. (Reporting by Devidutta Tripathy in New Delhi; Editing by Anand Basu) Full Story | Top |
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