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Amazon Growth Spurt to Create 100K New Jobs
January 13, 2017
Amazon on Thursday announced it will create more than 100,000 new jobs across the United States over the next 18 months, ranging from entry-level opportunities to positions for engineers and software developers. All will be full-time jobs with full benefits. Many of the jobs will be in new fulfillment centers currently under construction in Texas, California, Florida, New Jersey and other states.
Yahoo Makes Plans Amid Doubts Over Verizon Deal
January 10, 2017
Yahoo has disclosed in an SEC filing that following the sale of its operating business to Verizon, the company will restructure its board and change its name. It also warned that a massive hack disclosed last year could imperil its $4.8 billion sale to Verizon. Yahoo will operate as an investment company after the Verizon deal closes, it reported in the filing.
Bitcoin Rides the Uncertainty Wave
January 4, 2017
The price of bitcoin soared to a new three-year high on Monday, surpassing the $1,000 mark for the first time, in response to economic and geopolitical uncertainty in China following the U.S. presidential election. The price of bitcoin stood at more than $1,025 in late trading on Tuesday, after rising to nearly $1,030. The market cap was $16.49 billion, according to the CoinDesk index.
Softbank Pumps $1B Into Global Web Access Race
December 20, 2016
Softbank has cut a check for $1 billion to OneWeb, which plans to build a constellation of satellites to provide Internet access to underserved parts of the world, the companies announced Monday. Helmed by satellite industry veteran Greg Wyler, OneWeb raised a total of $1.2 billion in its latest round of funding. The company will deploy 650 Ku band satellites into orbit at a height of 750 miles.
Gates Spearheads $1B Clean Tech Effort
December 15, 2016
One year after a powerhouse group of technology executives and venture capital icons met to form the Breakthrough Energy Coalition, the group, led by Microsoft founder Bill Gates, has launched a $1 billion investment fund to support clean energy startups around the world. The Breakthrough Energy Fund, chaired by Gates, is designed to jumpstart an entire new generation of entrepreneurs.
Facebook Investors Slam Zuckerberg, Andreessen
December 14, 2016
Facebook investors have accused director Marc Andreessen of secretly coaching CEO Mark Zuckerberg regarding a major sale of shares he held. The structure of the sale enabled Zuckerberg to refocus on philanthropic activities while maintaining lifetime control over the company. The suit alleges that Andreessen secretly tipped off the CEO about concerns raised by other members of Facebook's board.
Magic Leap Catches Flak Over Tricky Video
December 13, 2016
It turns out the awe-inspiring video Magic Leap unveiled last year is not a demo of its still-secretive mixed reality technology, but a bit of sleight of hand from special effects firm Weta Workshop, which is credited at the beginning and end of the clip. Magic Leap's post -- titled "Just another day in the office at Magic Leap" -- claims the video shows a game being played around the office.
Samsung Floats Possibility of Split
November 30, 2016
Samsung has announced road map for a corporate restructuring that might include splitting itself into two. The company has retained external advisors to review the optimal corporate structure for its activities. The review is expected to take six months. Depending on the findings, Samsung may create a holding company structure and might list its shares on additional international exchanges.
Facebook Share Price Falls Despite Blowout Quarter
November 4, 2016
Facebook on Wednesday reported a record Q3, beating analysts' expectations for the fourth straight quarter, but concerns among investors about increased expenditures and the company's future prospects drove down share prices. They closed Thursday at $119.95, down more than $7 from Wednesday's closing price of $127.17. Friday saw little movement, with a closing price of $120.75.
Amazon Builds Fulfillment Centers, Investors Grouse
November 2, 2016
Amazon shares closed at $785.14 on Monday, having failed to rebound from last week's slide. The company's stock had closed at $818.36 last Thursday, just before the company reported third-quarter earnings that unpleasantly surprised Wall Street. Its share price dove $40-plus on Friday. Amazon's net income rose 52 cents a share, in the quarter, but analysts had expected 78 cents a share.
Stock Price Rises as Twitter Slashes Jobs, Uproots Vine
October 28, 2016
Twitter shares were up Friday following a third-quarter earnings report that beat Wall Street estimates despite declining revenue growth. Twitter also announced a widely expected round of job cuts and the unexpected shutdown of Vine. Twitter has been on financial oxygen in recent weeks, after failing to find a buyer. Investors applauded the news that it will slash 9 percent of its workforce.
Twitter May Kick 300 Employees Out of Its Nest
October 25, 2016
Twitter appears close to slashing another 300 jobs, or about 8 percent of its workforce, as it works to recover from a failed round of acquisition talks with several suitors. The job cuts likely would be in sales. Twitter might be taking steps to make itself look more attractive to investors in preparation for its third-quarter earnings report later this week.
Snap Lines Up Bankers for Spring IPO
October 13, 2016
Snap this week hired Morgan Stanley and Goldman Sachs Group to manage its IPO, according to multiple reports. JPMorgan Chase, Deutsche Bank, Allen & Co., Barclays and Credit Suisse Group reportedly also will play a role. The IPO, expected as early as this spring, could result in a valuation of $25 billion or more. That would make Snap one of the highest-profile IPOs in years.
Samsung Down, Galaxy Note7 Out
October 11, 2016
Samsung shares fell sharply on Tuesday after the company confirmed reports that it had halted production of its flagship Galaxy Note7 smartphone, just launched this summer. The move came after several replacement phones reportedly smoldered or caught fire. Shares fell 8 percent in the Korean market. Samsung had been working with the U.S. CPSC on a voluntary recall and replacement program.
Oracle's Earnings Call
September 16, 2016
Oracle is flying high as it goes into its annual Oracle OpenWorld customer conference, based on the news from its earnings call on Thursday. It's clear that the company has succeeded in pivoting from on-premises to cloud software offerings. The revenue acceleration from cloud products and services suggests that Oracle will derive an increasing share of its future revenues from cloud solutions.
Kobe Bryant Pours Energy - and Money - Into Tech
August 24, 2016
Kobe Bryant, the retired Los Angeles Lakers basketball champion, has expanded his burgeoning suite of business interests with Monday's launch of Bryant Stibel, a $100 million venture capital fund for technology, data and media companies. Jeff Stibel, the vice chairman of Dun & Bradstreet, is Bryant's long-time business partner. Bryant and Stibel plan to self-fund the new firm for several years.
Cisco Delivers Good News, Bad News: Solid Earnings, Job Cuts
August 18, 2016
Cisco Systems will cut up to 5,500 employees from its 73,000-strong global workforce, the company announced Wednesday as part of its Q4 earnings report. The restructuring will allow further investment in key priority areas such as security, the Internet of Things, collaboration, next-generation data center and cloud, the company said, along with optimization of costs in lower-growth areas.
GV's Bill Maris Passes Torch to Krane
August 11, 2016
GV founder Bill Maris on Wednesday announced that he was departing the company after an eight-year tenure, and that his replacement would be David Krane, a managing partner and one of his chief deputies at the Alphabet-owned venture capital firm. Krane is a 17-year Google veteran. Maris reportedly wanted to spend more time with his wife and 11-month-old son.
Nintendo Investors' Futile Hunt for Pokémon Go Profits
August 4, 2016
Nintendo investors who thought they would score big returns after the successful launch of Pokémon Go found that actual profits were more elusive than the colorful characters. Nintendo last week made it painfully clear that The Pokémon Co. and Niantic were far better positioned than it was to reap financial rewards. Much of that revenue potential lies in a wealth of in-app purchases.
Uber's China Strategy Shifts Into Reverse
August 3, 2016
Didi Chuxing on Monday announced a historic deal to acquire the Chinese ride-sharing operations of rival Uber, which threw in the towel after years of unsuccessful efforts to grow its business in what may prove to be the world's most challenging technology market. Under the agreement, Didi Chuxing acquired all of Uber China's assets, including its brand, data and business operations.
SolarCity Deal Would Take Tesla Where No Company Has Gone Before
August 1, 2016
Tesla Motors has announced that it has reached an agreement to purchase SolarCity. The deal could create the world's first vertically integrated sustainable energy company. The merger would drive efforts to develop rooftop solar systems, and better storage batteries for homes and businesses, as well as electric vehicles. It would, in essence, tie together Elon Musk's sustainable energy businesses.
Fixing Apple's Problem
August 1, 2016
Apple last week reported earnings, and with the exception of a strong showing from the iPad Pro, the key financial metrics were all down -- and for the third quarter running. So what's wrong with Apple? The company had been growing alarmingly well until last year, but growth suddenly has become elusive. It isn't going out of business, but it also isn't the performance king anymore.
Why 1 Billion iPhones Sold Matters
August 1, 2016
Sales of the iPhone for the current quarter may be down, but sales for the decade are up, way up. Apple last week announced that it had sold its billionth iPhone, a historic feat for a consumer electronics product from a single vendor. "We never set out to make the most, but we've always set out to make the best products that make a difference," said Apple CEO Tim Cook.
Apple Earnings Sag on Lower iPhone Price Points
July 28, 2016
Apple on Tuesday reported lower earnings in the third-quarter as the global saturation of smartphones continued to put pressure on its core iPhone business. However, officials remained upbeat. The company reported stronger-than-expected metrics and has been able to grow its software and services business while expanding into key overseas markets. Apple reported net income of $7.8 billion.
Nintendo's Q1 Reflects Struggles Unrelated to Pokemon Go Success
July 27, 2016
Nintendo shares fell sharply in Tokyo on Wednesday, following its release of a first-quarter earnings report that disappointed analyst expectations. The company reported a drop of 31 percent in net sales and an operating loss of about $48 million, which it attributed to growing strength in the Japanese yen but which likely had more to do with dismal sales of the Wii U, which it is phasing out.
Yahoo Deal Could Put Verizon in Google and Facebook's League
July 25, 2016
Verizon has entered into a definitive agreement to acquire Yahoo's operating business for approximately $4.83 billion in cash. The deal, which comes on the heels of Verizon's $4.4 billion AOL purchase last year, will allow it to expand its digital advertising business. The purchase will provide Verizon with Yahoo's ad tech tools, search, email and messenger assets.
Verizon on Verge of $5B Deal for Yahoo Core Assets
July 22, 2016
Verizon reportedly is close to a deal to buy the core Web assets of Yahoo for $5 billion, which would end a months-long process of jockeying over the future of the struggling company. Verizon emerged as the winner of a lengthy bidding contest to acquire the assets, according to reports that surfaced Friday. An agreement is expected early next week.
Musk Plots Out Tesla's Next 10 Years
July 22, 2016
Elon Musk has unveiled a second master plan for Tesla, a follow-up to the vision he shared 10 years ago. The original master plan is now in the final stages of execution. The refresh sketches out a multiyear, four-pronged strategy that is about more than vehicles. Musk also plans to advance an integrated solar-roof-with-battery product and create a ride-sharing program, among other things.
Netflix Shares Fall as Subscriber Growth Hits a Wall
July 20, 2016
Shares of Netflix fell sharply Tuesday after it reported lower-than-expected second quarter earnings, which the company blamed on subscriber growth that fell short of forecasts. Netflix added 1.7 million subscribers in the quarter, pushing its total membership to more than 83 million, the company told shareholders. However, that growth was far less than the 2.5 million it had projected.
Yahoo Posts Weak Earnings as Assets Sale Waiting Game Drags On
July 19, 2016
Yahoo on Monday reported second quarter earnings that fell just short of Wall Street estimates but left investors and analysts waiting to hear about progress in finding a strategic investment partner. Negotiations over the potential sale of the company's core assets are under way. The company reported earnings from operations of $39 million, or 9 cents a share in the second quarter.
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What's your reaction to the new Nintendo Switch gaming console?
I'm excited -- can't wait to get my hands on one.
I'm mildly interested and probably will try it out.
It looks cool for the younger set but not serious gamers.
Nintendo has lost its way -- the Switch will flop.
No interest -- I'm a PlayStation fan.
No interest -- I'm an Xbox fan.
I only play games on my tablet or phone.