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| Samsung sells 76 million smartphones in second quarter, boosting market share: report Thursday, Jul 25, 2013 07:41 PM PDT  SEOUL (Reuters) - Samsung Electronics Co Ltd sold 76 million smartphones in the second quarter, expanding its market share to 33.1 percent, Strategy Analytics said on Friday. Overall, the global smartphone market grew 47 percent to a record 229.6 million, the research firm said. Second-ranked Apple Inc saw its market share shrink to 13.6 percent after selling 31.2 million iPhones, as smaller rivals such as LG Electronics Inc, ZTE Corp and Huawei Technologies Co Ltd seized larger slices. (Reporting by Miyoung Kim; Editing by Stephen Coates) Full Story | Top |
| U.S. agents 'got lucky' pursuing accused Russia master hackers Thursday, Jul 25, 2013 07:08 PM PDT  SAN FRANCISCO (Reuters) - The two Russians arrested in what prosecutors call the largest online fraud case brought in the United States were caught through a combination of high-tech tools, dogged detective work and sheer luck. The propensity of the wealthy young Russians to travel provided authorities with their big opportunity to collar them in the Netherlands last year. ... Full Story | Top |
| Zynga folds on U.S. gambling bet, shares plummet Thursday, Jul 25, 2013 06:06 PM PDT  By Gerry Shih SAN FRANCISCO (Reuters) - Zynga Inc will largely abandon its long-running efforts to build a real-money gaming business in the United States, a prospect investors once believed to be the struggling company's sole lifeline. The surprise announcement came Thursday as the company behind once-popular games such as "FarmVille" and "Words with Friends" reported that it lost 40 percent of its monthly active users in the second quarter, as it bleeds mobile gamers to aggressive rivals. ... Full Story | Top |
| Facebook offers the dummy's guide to mobile advertising Thursday, Jul 25, 2013 05:05 PM PDT  By Alexei Oreskovic and Jennifer Saba SAN FRANCISCO/NEW YORK (Reuters) - Facebook Inc's mobile advertising success offers a ray of hope for Internet companies trying to make money within the confines of the smartphone's small screen. The social network's 75 percent surge in mobile ad revenue in a span of just three months not only doused skepticism on Wall Street and Madison Avenue about Facebook's business prospects, some say it could serve as a how-to guide for other Web companies navigating a world where the phone and tablet have fast become the screens of choice. ... Full Story | Top |
| Raytheon CFO: Too soon to mull financial consequences for failed missile test Thursday, Jul 25, 2013 04:58 PM PDT WASHINGTON (Reuters) - Raytheon Co's chief financial officer said on Thursday that it was too soon to discuss whether the company would have to take any charges for a failed U.S. missile-defense test this month, when its interceptor failed to separate from the rest of the rocket. If government investigators determine the test, which cost $240 million, was caused by a quality control issue or manufacturing problem, that could result in financial consequences for the responsible manufacturer. ... Full Story | Top |
| MetroPCS doubles operating markets to compete with Leap Thursday, Jul 25, 2013 04:02 PM PDT By Sinead Carew NEW YORK (Reuters) - T-Mobile US Inc, the No. 4 U.S. mobile service provider, said on Thursday that its MetroPCS prepaid wireless business has doubled the number of markets where it operates, putting it head-to-head against smaller rival Leap Wireless in many of its new markets. Both Leap, which agreed to be bought by No 2 U.S. mobile service provider AT&T Inc, and MetroPCS, which merged with T-Mobile less than three months ago, target cost-conscious customers who pay for calls in advance. ... Full Story | Top |
| Raytheon ordered to stop work on U.S. Navy jammer contract Thursday, Jul 25, 2013 01:37 PM PDT WASHINGTON (Reuters) - The U.S. Navy has told Raytheon Co to stop work on a next-generation electronic jamming system contract the company won on July 8, after BAE Systems Plc formally protested the contract award. Raytheon Chief Executive William Swanson, disclosing the stop-work order on Thursday, told analysts his company was "very comfortable" about its prospects for holding onto the contract. He said Navy acquisition officials were very thorough in deciding contract awards and generally prevailed in any protest actions. "And this is not a competition that happened overnight," Swanson ... Full Story | Top |
| Facebook shares jump 28 percent, Wall Street sees more ad growth Thursday, Jul 25, 2013 12:03 PM PDT  By Saqib Iqbal Ahmed and Sruthi Ramakrishnan (Reuters) - Facebook Inc shares opened 28 percent higher on Thursday after the company reported a huge jump in mobile advertising revenue, and analysts pointed to further growth from new advertising on Instagram and 15-second videos. While still short of their IPO price of $38, the shares hit $34 -- a price not seen since their second day of trading in May last year. ... Full Story | Top |
| Russian web search firm Yandex's co-founder falls into coma Thursday, Jul 25, 2013 09:27 AM PDT  MOSCOW (Reuters) - The co-founder and chief technology officer of Russia's market-leading internet search engine company Yandex has fallen into a coma after treatment for cancer, the Nasdaq-listed company said on Thursday. Ilya Segalovich, aged 48, founded Yandex in 1997 with Arkady Volozh, the company's chief executive officer. "He built up an inspired and incredible team of talented engineers who are the backbone of the company now," Volozh told reporters on a conference call after the company had earlier published its latest results. ... Full Story | Top |
| BlackBerry lays off 250 employees in latest round of cuts Thursday, Jul 25, 2013 07:20 AM PDT  TORONTO (Reuters) - BlackBerry Ltd has laid off about 250 of its employees at its headquarters in Waterloo, Ontario, as part of its latest move to trim costs, the smartphone maker said on Thursday. "This is part of the next stage of our turnaround plan to increase efficiencies and scale our company," a BlackBerry spokeswoman said. The company, which last year cut thousands of jobs, recently hinted that more reductions were in the offing. Last month, BlackBerry reported dismal quarterly results, which triggered a 28 percent plunge in its share price. ... Full Story | Top |
| Xerox profit beats estimates on restructuring Thursday, Jul 25, 2013 06:46 AM PDT  By Nicola Leske (Reuters) - Xerox Corp reported higher-than-expected second-quarter earnings on Thursday on growth in its services division and reiterated its full-year targets as its restructuring efforts showed signs of paying off. Known for its printers and copiers, Xerox last year kicked off a restructuring program focused on its services business, which now generates about 55 percent of revenue and manages anything from toll systems to healthcare programs. ... Full Story | Top |
| Yandex co-founder and chief technology officer in coma Thursday, Jul 25, 2013 06:00 AM PDT MOSCOW (Reuters) - Ilya Segalovich, the co-founder and chief technology officer of Russian internet group Yandex, is in a coma, suffering with complications from cancer, the company's chief executive said on Thursday. The company earlier announced the death of Segalovich, aged 48, who had been diagnosed with a treatable form of cancer. "We want to clarify an earlier statement that the company put out. We have since learnt that Ilya is in coma and on life support although not showing any brain function. Our thoughts are with him at this time," Arkady Volozh said on a conference call. ... Full Story | Top |
| Sirius XM revenue up on subscriber gains, churn improves Thursday, Jul 25, 2013 05:28 AM PDT By Liana B. Baker (Reuters) - Satellite radio provider Sirius XM Radio Inc posted higher-than-expected second-quarter revenue on Thursday as it added more than 700,000 subscribers to its service, which is widely available built into cars. Sirius shares rose 1.6 percent in premarket trading. Gabelli & Co analyst Brett Harriss said the company's churn, or rate of cancellations, beat his estimates, improving to 1.7 percent in the quarter, down from 1.9 percent a year earlier. "This is a positive because monthly churn is the largest contributor to the lifetime value of a subscriber," Harriss said. ... Full Story | Top |
| 3M posts slight profit gain, boosts share buyback plan Thursday, Jul 25, 2013 05:05 AM PDT (Reuters) - Diversified U.S. manufacturer 3M Co posted a slightly higher quarterly profit on Thursday, helped by revenue increases across most of its business lines, and raised the number of shares it expects to buy back this year. The company, whose products include Post-it notes and film for flat-panel televisions, said second-quarter net income rose to $1.2 billion, or $1.71 per share, from $1.17 billion, or $1.66 per share a year ago. Analysts on average expected $1.70 per share, according Thomson Reuters I/B/E/S. Revenue increased 2.9 percent to $7.75 billion. Analysts were looking for ... Full Story | Top |
| Mobile boosts Baidu's second-quarter revenues; buy-outs grip sector Thursday, Jul 25, 2013 04:12 AM PDT By Paul Carsten and Lee Chyen Yee BEIJING/SINGAPORE (Reuters) - Revenues from Baidu Inc's mobile services surpassed 10 percent of its quarterly total for the first time in the April-June period, dispelling fears that China's largest Internet search was losing market share to rivals. Baidu has invested in location-based services, apps and online videos to make money off smartphone users as it looks to diversify its revenue stream and fend off increasingly stiff competition in the search market from rivals like Qihoo 360 Technology Co Ltd. ... Full Story | Top |
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