Month-to-month growth well above average
Apple's November sales may have grown by 19 to 20 percent month-over-month in November, according to an estimate by Cantor Fitzgerald analyst Brian White. The figure is based on White's "Apple Barometer," which tracks the performance of Taiwanese suppliers known to depend on Apple as a major client. "With approximately 97% of the sales now accounted for in our Apple Barometer, we estimate sales in November rose by approximately 19-20% M/M and well above the November average of up 6% over the past eight years," the analyst writes in a new investor memo. "As such, we believe this November will prove to be the strongest in the history of our Apple Barometer."
Agreement would increase iPad sales opportunities, lift Apple revenues
Assuming that the latest iPhones (and possibly iPads) debut in China and on China Mobile as expected on December 18, Apple will have just two weeks of sales there to record before the close of the company's fiscal Q1 for 2014. In a testament the sheer scale of both China's overall economy and China Mobile's subscriber base are, those few days might be enough to materially affect Apple's overall earnings for the period, says Piper Jaffray analyst Gene Munster.
Report hinges on single, unnamed source, but signs are there
The Wall Street Journal is reporting that a formal agreement between Apple and the world's largest -- and up till recently, the biggest iPhone holdout -- carrier, China Mobile, has been signed. The story is confirmed only by a single, unnamed source -- normally a violation of journalistic standards -- but other evidence to support the contention has appeared, including a pre-order site connected to China Mobile serving a wealthy Shanghai suburb and state media announcements.
$130 million in cash and stock shares to exchange hands
The Federal Communications Commission (FCC) has approved Verizon's $130 billion buyout of Vodaphone's share of Verizon Wireless. The ruling paves the way for Verizon's complete ownership of the wireless business when all aspects of the transaction are concluded in the first half of 2014.
Admits 'Steve Jobs probably wouldn't have talked to me'
(Updated with Twitter comment on buyback cap) Investor Carl Icahn filed a shareholder proposal for an Apple stock buyback on November 26th, a new TIME interview reveals. Icahn has been trying to pressure Apple into expanding its current buyback from $60 billion to $150 billion, and having it take effect immediately, rather than run through 2015. In response to the interview, Apple has issued a statement. "As part of our regular review process, we are once again actively seeking our shareholders' input on our program, and as we said in October, the management team and our board are engaged in an ongoing discussion about it which is thoughtful and deliberate," a spokesperson says.
European Commission finds minimal overlap between Microsoft, Nokia
Microsoft has been given the all-clear to acquire Nokia's mobile phone business by the European Commission (EC). The clearance by the regulatory body comes just one day after the US Department of Justice approved the deal, two weeks after Nokia's shareholders made a similar decision, leaving little in the way of obstructions left for the $7.2 billion deal.
Deal conditional on regulatory approvals, bankruptcy court rulings
Financially troubled SSD manufacturer OCZ Technology Group today announced that the company has signed an asset purchase agreement with Toshiba Corporation to acquire substantially all of OCZ's assets in a Chapter 11 bankruptcy proceeding for $35 million, subject to customary regulatory approval. The move comes only a few days after OCZ revealed that bankruptcy was imminent and its assets had been seized by debtors. The offer has already been approved by both Toshiba's and OCZ's board of directors.
DOJ approval effectively leaves European regulators as last major acquisitions hurdle
The acquisition of Nokia's Devices and Services section by Microsoft has taken one more step towards completion. The US Department of Justice approval in a Federal trade Commission filing has effectively completed the deal's regulatory processes in the United States, effectively leaving just the European regulators standing in its way.
Four-member startup joins Yahoo Labs team for language processing work
Yahoo is continuing its trend of buying companies, and has announced possibly its last acquisition for this year. The search company has confirmed its purchase of SkyPhrase, a startup that is working on processing natural language requests, for an undisclosed amount, with the company's small team of four employees being integrated into the Yahoo Labs team in New York.
Stock's recent rise reflects expectations for record quarter
Apple's stock finally surpassed its previous 2013 high on Friday, beating the $549.03 mark to close at $556.07. The former high mark came on January 2, reflecting a year that saw the company doing brisk business in revenues, but penalized by Wall Street for lacking any category-redefining product or service, and being slow to update existing products. The perception -- not wholly accurate -- that Apple was losing influence and marketshare also played a role.
Company has failed to repay 15 percent interest loan to financial group
Solid state drive manufacturer OCZ Technlogy is filing for bankruptcy, with Hercules Technology Growth Capital having taken control of its accounts at Silicon Valley Bank and Wells Fargo. The company has received an offer from Toshiba to buy its assets and intellectual properties in a bankruptcy proceeding.
Quarterly results barely meet street estimates, more transitions to come
HP today announced financial results for its fiscal fourth quarter and fiscal year that ended on October 31. The company reported fourth quarter diluted net earnings per share (EPS) at $0.73, up from a net loss per share of $3.49 in the prior-year period. Fourth quarter net revenue of $29.1 billion was down three percent from the prior-year period. Crucially, the company posted gains in enterprise services, the focus of its long-term recovery, buoying the hopes of investors.
CFO Budulka replaced by SVP Yersh, CMO and COO yet to be replaced
BlackBerry has made another set of executive-level changes, with three more members of management being pushed out from their positions. The reorganization, which sees the loss of the CFO, COO, and CMO at the phone manufacturer, comes three weeks after previous CEO Thorsten Heins was let go and replaced by interim CEO John Chen.
Companies study potential antitrust hurdles
Comcast is reportedly mulling a potential takeover bid for competitor Time Warner Cable, unnamed sources have told CNBC. Although Time Warner Cable is said to be considering various buyers, the company is claimed to favor a merger with Comcast if it finalizes the decision to sell.
Stan Shih heads up PC manufacturer as it tries to save itself
Acer founder Stan Shih is taking control of the company, just weeks after CEO and Chairman JT Wang revealed his resignation following stagnating PC sales. The changeover, with immediate effect, effectively eliminates the role of CEO at the PC manufacturer, and changes the leadership over a month before the expected transfer on January 1, 2014.
David Miller brought down his employer, still faces civil lawsuit
A former stock trader who bankrupted his former employer in a bet on Apple stock that went bad, and who pleaded guilty to wire fraud and conspiracy in a plea deal, has been sentenced to prison for his crimes - for one-tenth of the maximum time he faced. David Miller, 41, will serve 30 months in prison for his scheme to buy more than 1,000 times the amount of AAPL a customer ordered, on the same day that Apple was to announce its third-quarter revenues in 2012. He planned to sell the excess stock when the price rose, and pocket the difference for himself.
Damages award now in the hands of the jury, time to decision unknown
Apple and Samsung are wrapping up the retrial of the vacated damages from the first omnibus smartphone patent trial from 2012. In closing arguments, Apple is arguing that Samsung cannot refute that it had improperly used iPhone related patents, and did so willingly, in its design process of more than a dozen devices. Samsung doesn't deny infringement, but believes that Apple is overstating how important the patents at stake actually are, and is asking far too much money to compensate for the unlicensed use.
Investor tries to put rumors to rest
Wealthy investor Carl Icahn says he has no plans to push for Apple to buy out Nuance, according to a new Reuters report. Icahn spoke on the topic Monday, at the Reuters Global Investment Outlook Summit. "That is something I would never micromanage and never even think of telling [Apple CEO] Tim Cook," he said. "It has zero to do with the fact that I'm involved with Apple."
Transfer of Nokia division to Microsoft expected to complete in early 2014
Shareholders at Nokia have approved the sale of the company's Devices and Services arm to Microsoft. Those eligible to vote overwhelmingly accepted the deal, with 99.7 percent agreeing to take the 5.44 billion euro ($7.35 billion) deal, and removes one more hurdle in Microsoft's quest to own part of Nokia's hardware business.
Company has 90,000 employees, most currently on BlackBerry
Like many federal agencies and other large businesses, Pfizer - one of the world's largest pharmaceutical manufacturers with unprecedented influence in the healthcare industry - has asked its employees to transition away from BlackBerry phones and towards their choice of iOS or Android products instead. The company, in a memo announcing the change, said the transition was due to BlackBerry's "volatile state" and advised employees to make the change as soon as contracts allow.
Letter to Cook confirms $2.5 billion in share holdings
Investor Carl Icahn has publicly released a letter he originally sent to Apple CEO Tim Cook in late October. The letter -- issued to shareholders overnight -- confirms that Icahn now owns roughly $2.5 billion in Apple stock, and continues pushing for expanding the company's share buyback program from $60 billion to $150 billion, while having it take effect immediately instead of running through 2015. Icahn claims that his plan could ultimately raise Apple's share price to as high as $1,250, which would make it more valuable than Google.
SVP of Marketing describes iPhone as a 'bet-the-company' product
With a jury seated, the retrial concerning damages related to Samsung's infringing of Apple patents got underway in earnest on Thursday, largely taken up with procedural matters but also featuring brief testimony from Apple's Senior Vice President of Worldwide Marketing, Phil Schiller. In his few minutes of testimony, he told the jury about the original development of the iPhone, describing it as a "bet-the-company" high-risk product that might not have succeeded, with "almost everyone" at Apple involved at some point.
Nearly $3 billion 'returned' to shareholders in latest payout
If you held any AAPL stock as of last Wednesday, your account is going to get a little boost tomorrow. Apple will be paying $3.05 per share to "shareholders of record" as of November 6 in the latest quarterly dividend, which arrives tomorrow and totals nearly $3 billion, a 15 percent rise from the year-ago quarter. While the amount Apple has paid out has gone up over the last few quarters, the company has actually saved billions in stock buybacks.
Facebook offered three Instagrams for Snapchat
Popular image sharing app Snapchat reportedly turned down a $3 billion acquisition offer from Facebook, according to a report from The Wall Street Journal. Sources familiar with the matter claim that the world's largest social network offered three times the price it paid when acquiring Instagram for Snapchat, which allows users to send picture messages that expire soon after they are viewed. Those same sources say that the $3 billion offer was not Facebook's first attempt to court the image sharing service.
Heavy investments needed for products like iPhone 5c, MacBook
Apple's forecast of $10.5 billion in capital expenditures for fiscal 2014 is partly based on exclusive machinery deals, sources say. To support its unusual designs, the company has had to invent its own manufacturing technology and/or buy specialized machines. This includes units that can polish the plastic on the iPhone 5c, and test camera lenses for iPhones and iPads; perhaps the best known examples are the laser and milling machines needed to craft the unibody aluminum frames for MacBooks. When it announced the iPhone 5, Apple highlighted the special technology used to produce chamfered edges that can now be found on the iPhone 5s, iPad Air, and iPad mini.
Predicts new iPad mini will still cut into iPad Air share
Well-connected KGI analyst Ming-Chi Kuo has issued a memo to investors saying that while the new releases of the latest iPads will cause a spike in sales for the holidays, he sees a repeat of last year in terms of the smaller iPad mini taking share away from the larger iPad model. He also predicts that the Apple TV segment will grow slowly unless Apple can land more content and app deals. Kuo has had a good (but not perfect) track record in predicting Apple moves and results in recent quarters.
Investor quiet on progress of stock buyback agenda
Rich investor Carl Icahn has again spoken with Apple CEO Tim Cook, CNBC reports. Icahn tells the network that he had a "good conversation" with Cook in the past few days, and that both sides agree Apple stock is undervalued. The parties are also allegedly continuing to explore the possibility of an expanded share buyback program.
Share price change expected to net the company $1.8B
Twitter has updated the set price per share for its Initial Public Offering (IPO) to $26 each, potentially valuing the company at $18 billion. The offering of 70 million shares is up from the previous expected range of $17 to $20 per share, and in the process earns the company $1.82 billion, along with increasing the overall valuation of the company even higher.
Mobile-based payment service said almost ready to go public
Mobile payment processor Square is said to be in discussions to make an initial public offering, according to twin reports from The Wall Street Journal and CNBC. The payment processing firm is reportedly in talks with Goldman Sachs and Morgan Stanley, among other banks. The public offering is still very much in the planning stages, according to reports, but it could happen as soon as 2014.
National security concerns over telecoms infrastructure nixed buyout plans
Lenovo could have bought ailing smartphone manufacturer BlackBerry, but was denied by the Canadian government. Alleged interference of inter-company discussions by Ottawa government officials made it clear to BlackBerry executives that a takeover by a Chinese company would not proceed, due to potential national security concerns.
Subscriber gains not enough to avoid $36M loss for third quarter
T-Mobile has managed to increase its customer numbers yet again, with its third-quarter results claiming another million users. Adding to the 1.1 million increase from the previous quarterly results, the carrier gained 643,000 branded postpaid subscribers, though this still didn't prevent the company from making a net loss of $36 million for the period. The total number of customers on T-Mobile is said to be more than 45 million across the entire company.
Heins' replacement promises to rebuild
BlackBerry's new interim CEO John Chen said on Monday that the company will not be shutting down its handset production unit. This after the company let go of Thorsten Heins as CEO earlier today. Chen's comments came in the midst of an interview with Reuters, and the incoming CEO says that he believes both that BlackBerry can be rescued and that he has the skill set for it.
BlackBerry to drop Heins, raise $1B
BlackBerry has announced that it will drop plans to sell itself and instead replace its CEO and raise $1 billion from investors. The struggling Canadian smartphone maker will sell convertible debt notes to a group of investors, according to The Globe and Mail, with Fairfax Holdings, which initially tried to take BlackBerry private, being among those investors. CEO Thorsten Heins will be ousted after nearly two years on the job, and John S. Chen has stepped into the interim CEO position.
Qualcomm may team with equity firm on BlackBerry buy
Qualcomm may be in talks to partner with Cerberus Capital Management to enter a bid to take over struggling Canadian smartphone manufacturer BlackBerry. A report in The Wall Street Journal pegs the chipmaking giant and the private equity firm as latest parties to be considering a takeover of BlackBerry, which has been stuck in a downward spiral in the face of tough competition from Apple and manufacturers of devices running Google's Android operating system. The deal would lash Qualcomm tighter to one of its customers, as BlackBerry already relies on Qualcomm to supply chips that go into its underperforming smartphones.
Apple, Microsoft part of 'Rockstar' patent holding company
The patent "supergroup" Rockstar that includes Apple, Microsoft, Blackberry, Ericsson, and Sony is suing Google, Samsung, and Huawei over seven patents. The patents were purchased at auction by Rockstar, and involve technologies that helps to pair Internet search terms with advertising related to the search.
TV, gaming woes cast doubt on Sony's three-pronged plan
Sony has released its earnings statement for the most recent financial quarter, revealing a weak outlook due to poor performances by its entertainment and television divisions. The Japanese electronics giant cut its full-year profit targets by 40 percent and posted a quarterly net loss of $197 million for the three months ending September 30. Things are looking up, though, for the firm's mobile division, which has seen revenue and sales of its Xperia devices continuing to grow.
Cecelia Abadie pulled over for speeding, additional charge of display use
In what is possibly the first ticket issued at least in part for the usage of Google Glass while driving, San Francisco resident Cecilia Abadie was cited both for speeding, with an additional charge applied by the citing officer because she was using Google Glass while driving, and in doing so, violating a law prohibiting display use by the driver.
Large growth in monthly active users on mobile boosts bottom line
Facebook today reported financial results for the third quarter, which ended September 30. Revenue for the quarter totaled $2.02 billion, an increase of 60 percent compared with $1.26 billion in the third quarter of 2012. Daily active users rose to 728 million on average for September 2013, an increase of 25 percent year-over-year. Net income was $425 million, compared to a net loss of $59 million for the third quarter of 2012.
Company's physical footprint sprawls to 19.1 million square feet
More information has been gleaned from Apple's 10K filing with the SEC. In addition to research budgets, the document also reveals that Apple's workforce is now up to 80,300 full-time employees, a jump from 72,800 at the end of FY2012. Most of the growth came from outside Apple Stores, which added only 400 full-time jobs for a total of 42,800. Apple typically prefers cheaper part-time workers at retail.
Research fundamental to Apple business model
During its 2013 fiscal year, Apple's research and development expenses grew 32 percent year-over-year from $3.4 billion to $4.5 billion, according to an annual 10-K filing made with the US Securities and Exchange Commission. The company remarks that despite large increases during the past several years, R&D budgets have stayed consistent with net sales. It also mentions that costs have gone up because of a growing number of workers, and expenses related to expanded activities.
Sprint loses 313,000 customers, sells 1.4M iPhones in quarter
Sprint's first full-quarter earnings report after the completion of SoftBank's takeover and the acquisition of Clearwire gives it good news and bad news in equal measure, with the carrier's revenues rising to $7.3 billion compared to the $7.2 billion in the previous quarter. Operating losses at the company have shrunk to $398 million, an improvement on last quarter's $874 million loss, though it is still a greater loss than the $231 million in the same period last year.
Lumia sales improve year-on-year from 2.9M to 8.8M
Nokia has made an unexpected operating profit of 118 million euros ($162 million) for the third quarter, according to its latest financial results. The profit, stemming from net sales of 5.66 billion euros ($7.8 billion), is a marked turn-around from the $755 million lost for the same period last year, and helps to compensate for the $151 million operating loss it endured in the second quarter.
Declining PC market, competitive mobile environment hurt margins
Apple had another record-breaking year overall in fiscal 2013, which for the iPhone maker ended on September 30 -- but all was not perfectly rosy in Cupertino. While the company reached new highs in overall revenue -- some $15 billion more than in 2012 -- profits were noticeably down, mostly due to the declining PC market as well as the more-competitive mobile market. Apple made $35 billion in profits on $170.9 billion of income compared to $41.7 billion on $156.5 billion last year.
Cook coy on why mobile devices need 64-bit processing
Apple CEO Tim Cook on Monday said that the inclusion of a 64-bit processor in the company's newest iPhones and iPads is just the beginning of long product roadmap. Cook's comments came in the midst of Apple's fiscal fourth quarter conference call. The Apple chief neglected to detail what sort of products Apple may have in the offing that would require such processing power.
Apple ramping up iPhone 5s production
Apple is steadily increasing its supply of iPhone 5s units in order to meet demand, but the company will make no promises with regard to availability of the Retina iPad mini. This according to CEO Tim Cook, who made the two revelations today during the conference call for the iPad maker's fourth fiscal quarter conference call. Consumers can expect to see iPhone 5s supply strains softening even as Apple prepares to launch the device in even more countries.
Free Mavericks just the beginning for Mac OS
During the conference call for its fourth quarter financial statement, Apple confirmed that future versions of Mac OS will be free. That will keep them in line with a precedent Apple set with the the OS X Mavericks OS update, which Apple released earlier this month. The free operating system updates, along with iWork updates and free copies for each purchaser of Mac and iOS hardware, is part of a $900 million sequential increase in deferred net revenue for software upgrade rights and non-software services.
Company witnesses setbacks in some sectors
In parallel with an official announcement, Apple has also posted a detailed breakdown (PDF) of its fiscal Q4 results. The data shows that revenue in the Americas was up just 1 percent year-over-year to $13.941 billion, and even down marginally in Europe, shifting from $8.023 billion to $8.005 billion. Greater China however grew 6 percent to $5.733 billion, and Japan surged 41 percent to $3.341 billion. Offsetting this only slightly was the rest of the Asia-Pacific region, which dipped 6 percent to $1.980 billion. Global retail numbers increased 6 percent to $4.472 billion.
Executives highlight latest performance figures
Apple is preparing to detail its fiscal fourth-quarter financial information in an investor conference call. Executives are expected to discuss sales figures and answer questions from analysts. Check out our live page at 2pm Pacific, 5pm Eastern for information and highlights from the call.
Sells 33.8 million iPhones
Apple has posted $37.5 billion in revenue for the results of its fiscal fourth quarter, which ended in September. The figure represents a 4 percent growth year-over-year, and beats out consensus predictions, which called for $36.8 billion. Net income was down, however, coming in at $7.5 billion ($8.26 per share) versus $8.2 billion ($8.67 per share). Driving the company's revenue was the iPhone, which moved 33.8 million units.
Quarter marks return to record profits earned by the company
As the company expected, Samsung has posted record profits for the quarter. The Korean manufacturer announced 59.08 trillion won ($55.09 billion) in revenue, with profit of 10.16 trillion won ($9.62 billion). The numbers come in at seven percent higher than Samsung expected, despite modest growth in mobile of only three percent.