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| Samsung's new Galaxy S4 hits supply snags in U.S Wednesday, Apr 24, 2013 08:16 PM PDT  SAN FRANCISCO (Reuters) - Supply issues have snarled the U.S. rollout of Samsung Electronics Co Ltd's latest flagship smartphone, which will go on sale at carriers Sprint and T-Mobile later than expected, the wireless service providers said on Wednesday. Samsung attributed the disruption to unexpectedly strong demand for the Galaxy S4, the South Korean company's direct challenge to Apple Inc's iPhone. "Due to overwhelming global demand of Galaxy S4, the initial supply may be limited. We expect to fulfill inventory to meet demands in the coming weeks," the company said in a statement. ... Full Story | Top |
| Exclusive: Verizon eyes roughly $100 billion bid for Verizon Wireless stake Wednesday, Apr 24, 2013 08:11 PM PDT  By Soyoung Kim NEW YORK (Reuters) - Verizon Communications Inc has hired advisers to prepare a possible $100 billion cash and stock bid to take full control of Verizon Wireless from joint venture partner Vodafone Group Plc, two people familiar with the matter said on Wednesday. Verizon, which already owns 55 percent of Verizon Wireless, has not yet put forward a proposal to Vodafone but it has hired both banking and legal advisers for a possible bid, the sources said. ... Full Story | Top |
| Zynga pleas for time on turnaround as loss forecast knocks shares Wednesday, Apr 24, 2013 07:53 PM PDT  By Gerry Shih SAN FRANCISCO (Reuters) - Zynga Inc's management on Wednesday pleaded for more time for its turnaround effort after the online game maker forecast a steeper-than-expected loss for the current quarter, sending its shares lower. The embattled publisher behind games such as "FarmVille" and "Words With Friends" reported a surprise profit for its latest quarter through steep cost-cutting, but Chief Executive Mark Pincus said Zynga's business, although stabilized, may not pick up until the latter half of the year. ... Full Story | Top |
| IBM CEO Rometty urges employees to act faster: WSJ Wednesday, Apr 24, 2013 05:40 PM PDT  (Reuters) - IBM Corp's Chief Executive Virginia Rometty told employees the company had become too sluggish and unresponsive, after it posted weak first-quarter results, the Wall Street Journal reported on Wednesday, citing IBM's internal video message addressed to its employees. The technology services company posted on Thursday a rare quarterly earnings miss as a sliding yen hurt earnings from Japan and it failed to close a number of major deals, especially in Europe and the United States. Rometty set a new rule. ... Full Story | Top |
| Smart card firm Gemalto says on track for double-digit growth Wednesday, Apr 24, 2013 05:37 PM PDT (Reuters) - French smart card maker Gemalto reported higher first-quarter sales and said it was on track to reach its goal of double-digit growth over the year. The maker of smart chips for mobile phones and bank payment cards said on Thursday sales rose 9 percent on constant exchange rates to 518 million euros in the first three months of the year. Sales at its mobile unit, which is its most profitable business and accounts for close to half its sales, grew 4 percent thanks to strong orders for its more sophisticated chip cards from telecom operators moving to 4G mobile broadband networks. ... Full Story | Top |
| Canon hits one-week low after cutting compact camera sales forecast Wednesday, Apr 24, 2013 05:22 PM PDT  TOKYO (Reuters) - Shares of Canon Inc fell 5.1 percent to 3,645 yen, a one-week low, on Thursday after the camera-and-printer maker lowered its forecast for compact camera sales for the business year ending in December. On Wednesday, the company lifted its annual operating profit forecast by nearly 10 percent to 450 billion yen, due to a weaker yen. (Reporting by Dominic Lau; Editing by Paul Tait) Full Story | Top |
| Qualcomm's earnings outlook points to competition in Asia Wednesday, Apr 24, 2013 04:59 PM PDT  By Noel Randewich SAN FRANCISCO (Reuters) - Leading mobile chipmaker Qualcomm forecast earnings below expectations on Wednesday as competition in smartphones intensifies and shifts toward Asia, and its stock fell sharply. San Diego-based Qualcomm is benefiting from strong demand for smartphones and a shift by network operators worldwide to a high-speed wireless technology known as long-term evolution (LTE), where the chipmaker is ahead of rivals. ... Full Story | Top |
| Fusion-io forecasts revenue above estimates; shares jump Wednesday, Apr 24, 2013 04:57 PM PDT (Reuters) - Memory drive maker Fusion-io Inc reported higher-than-expected revenue for the third quarter and forecast current-quarter revenue ahead of analysts' estimates, pushing up its shares 11 percent in after-hours trading. The company, which makes solid state memory drives using NAND flash technology, forecast revenue of about $110 million for the fourth quarter. Analysts on average were expecting $107.3 million, according to Thomson Reuters I/B/E/S. ... Full Story | Top |
| Amazon to sell set-top box to challenge Apple TV: report Wednesday, Apr 24, 2013 04:47 PM PDT  SAN FRANCISCO (Reuters) - Amazon.com Inc will release a set-top TV box later this year that will stream video over the Internet, challenging Apple Inc's Apple TV device and a similar gadget sold by start-up Roku, BloombergBusinessweek reported on Wednesday. The box will plug into TVs and give viewers access to Amazon's digital video content, which the company has been expanding, BloombergBusinessweek said, citing three unidentified people familiar with the project. An Amazon spokeswoman declined to comment. ... Full Story | Top |
| Western Digital forecasts strong revenue on internet storage demand Wednesday, Apr 24, 2013 04:10 PM PDT  By Neha Alawadhi (Reuters) - Hard disk drive maker Western Digital Corp forecast current-quarter revenue largely above analysts' expectations as higher demand for internet storage more than offsets the effects of a fall in personal computer sales. The company forecast fourth-quarter earnings of $1.65 to $1.80 per share on revenue of $3.55 billion to $3.65 billion. Analysts on average were expecting earnings of $1.74 per share on revenue of $3.58 billion, according to Thomson Reuters I/B/E/S. ... Full Story | Top |
| U.S. wireless carriers seek alternatives as phone growth slows Wednesday, Apr 24, 2013 03:16 PM PDT  By Sinead Carew NEW YORK (Reuters) - U.S. mobile phone companies are starting to realize they need more than phones to keep growing. Shares of AT&T Inc fell 5 percent on Wednesday after the No. 2 U.S. mobile operator disappointed investors with its report of a net loss of 69,000 phone subscribers in the first quarter. It depended on tablet users instead for growth. Sprint Nextel Corp, the No. 3 U.S. mobile provider, also showed much lower-than-expected growth in its core service on Wednesday. ... Full Story | Top |
| Samsung's new Galaxy S4 hits supply snags in United States Wednesday, Apr 24, 2013 03:00 PM PDT  SAN FRANCISCO (Reuters) - Supply issues have snarled the U.S. rollout of Samsung Electronics' latest flagship smartphone, which will go on sale at carriers Sprint and T-Mobile later than expected, the wireless service providers said on Wednesday. Samsung attributed the disruption to unexpectedly strong demand for the Galaxy S4, the Korean company's direct challenge to Apple Inc's iPhone. "Due to overwhelming global demand of Galaxy S4, the initial supply may be limited. We expect to fulfill inventory to meet demands in the coming weeks," the Asian electronics company said in a statement. ... Full Story | Top |
| Open Text posts higher adjusted profit, sets dividend Wednesday, Apr 24, 2013 02:55 PM PDT  By Ankur Banerjee (Reuters) - Canadian business software maker Open Text Corp reported a 25 percent rise in third-quarter adjusted profit as its cloud-based services business expanded, and the company initiated a quarterly dividend of 30 cents per share. Revenue rose 16 percent to $337 million, with $44.4 million coming from cloud services. Revenue from the license business, which is also a measure of future demand, rose 13 percent to $69 million, its first rise in five quarters. ... Full Story | Top |
| Citrix Systems forecasts weak second-quarter profit on delayed orders Wednesday, Apr 24, 2013 02:44 PM PDT (Reuters) - Cloud computing software maker Citrix Systems Inc forecast a lower-than-expected profit for the current quarter as its customers reduce IT spending and delay orders, sending its shares down 10 percent in extended trading. Citrix said it expected an adjusted profit of 62 cents-63 cents per share in the second quarter on revenue of $705 million-$715 million. Analysts were looking for an adjusted profit of 70 cents per share and revenue of $711.5 million, according to Thomson Reuters I/B/E/S. ... Full Story | Top |
| Equinix's revenue forecast disappoints, shares fall Wednesday, Apr 24, 2013 02:23 PM PDT (Reuters) - Equinix Inc posted a first-quarter profit well below analysts' expectations, largely due to a weak Japanese yen, and the data center operator forecast lower-than-expected second-quarter revenue, sending its shares down 8.5 percent. The company said it expected revenue of $530 million to $534 million for the second quarter. Analysts on average had estimated $543.6 million, according to Thomson Reuters I/B/E/S. Equinix reaffirmed its full-year revenue expectations of more than $2.2 billion after factoring in about $21 million in negative currency movements. ... Full Story | Top |
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