Category - Investor
Editor's Note: there are many examples of our MacNN Podcast that we are proud of, but this one we picked as an example of "the best of MacNN" because it is so representative of what the podcast was about: comraderie, laughs, news, insight. Even though the podcast focused on stories that had already been reported on the site, it gave listeners both our analysis of those events as well as a look at the people behind the reporting. The good news is that the podcast will continue after MacNN's shutdown under a new name, so we hope previous listeners and new ones will join us for more banter, bad jokes, and ballyhoo starting the week of July 11. To our previous listeners, thank you again for your support. We loved doing this, and we think this episode shows that well.
BlackBerry is continuing to hemorrhage money, after its latest financial results show it endured a net loss of $670 million for the most recent quarter. Revenue for the Canadian smartphone producer is also poor, pulling in just $400 million over the three-month period ending in May, a year-on-year drop of 39 percent, with the balance sheet hammered by a list of adjustments and a hefty asset impairment charge pushing it into the red.
We spend a fair amount of time in this space belittling the predictions and pontifications of pundits around here (one in particular -- though we would like to stress that it is the sites that unfairly balloon his above-average-but-imperfect record into gospel-like status that we actually don't care for, not the man himself). We love deconstructing rumors (where needed), rooting out the source, watching it evolve and refine (or be walked back and forgotten), and let's not forget: even if it's clearly nonsense, rumors can be fun and entertaining. We feed on them.
Microsoft and LinkedIn today announced they have entered into a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn's cash on hand. The transaction has been unanimously approved by the Boards of Directors of both LinkedIn and Microsoft.
Let's cut to the chase on this one -- we're putting up our 66th episode a day early because this one may have a short shelf life. We tried, heaven knows, to limit our "predictions" to things that are incredibly likely to happen, or if not incredibly likely, then we just indicated if we liked the idea or not. That said, you know part of our "it's complicated" relationship with Apple is that every time we think they're going to zig instead of zag, they in fact zagnut (yes, that candy bar is still being made). So here goes the road to WWDC, littered with speculation that's going to make us look (smart? dumb?) come Monday. Show notes after the player.
Citigroup is suing AT&T in response to the telecommunication company's "thanks" program it rolled out earlier this month. In a court filing made earlier this week, the banking giant claims that the program is too close to its "thankyou" program thematically and linguistically, and will cause market confusion if AT&T is allowed to continue the program's branding.
Activist investor Carl Icahn still believes Apple has potential and is worth investing in, but China continues to hold him back. In an interview discussing his sale of all Apple stock in April, among other topics, Icahn continued to praise Apple and its leadership, believing CEO Tim Cook is "doing a good job," but the company's prospects in China is preventing him from reinvesting in the iPhone producer in the near future.