Tag - Morgan Stanley
Pandora is looking to possibly put itself up for sale, and is working to enter discussions with potential buyers, as the service endures challenging trading conditions, according to a report. The music streaming service is supposedly working with Morgan Stanley to conduct acquisition talks with suitors, though apparently only at a preliminary level, and follows after the publication of a disappointing quarterly financial report involving a net loss of $19.4 million.
The imbroglio over Facebook's initial public offering continued today with the announcement of a class-action lawsuit alleging wrongdoing on the part of Facebook and its underwriters. The lawsuit, filed in Manhattan federal court, claims that Facebook, Morgan Stanley, Goldman Sachs, and JPMorgan Chase, among others, misled investors and caused them to lose more than $2.5 billion in the wake of the IPO. As Bloomberg reports, the plaintiffs have yet to specify the amount sought for damages. The case comes in the wake of the revelation yesterday that the Securities and Exchange Commission will be looking into the Facebook IPO to determine whether some investors received privileged information ahead of the opening.
The Facebook initial public offering (IPO) may have been hampered by the bank that brought the social network to Wall Street. The LA Times writes, Morgan Stanley was advising favored clients on reduced revenue estimates for Facebook, leading Wall Street insiders to avoid or drop shares. The US Securities and Exchange Commission will be looking into the Facebook IPO, with the Financial Industrial Regulatory Authority also expressing concern, particularly as this resulted in non-institutional investors with more shares than they had intended. With Facebook shares expected to be scarce, some investors over-ordered in the belief that they might miss out if they didn't, leaving them more exposed than they had planned.
Facebook's long-rumored initial public offering (IPO) of stock could be filed as soon as Wednesday if a new leak proves real. The share plans seen by the Wall Street Journal would most likely be underwritten by Morgan Stanley with help from Goldman Sachs. At $75 billion to $100 billion of expected value, it would be one of the most valuable IPOs to date.
Morgan Stanley analyst Katy Huberty claims in an unusual Sunday research note that Apple would start production late on the next iPhone. Checks after a visit to Taiwan have led her to believe production would only start in mid-to-late August even with a launch still projected for September. Apple would "ramp aggressively" to get up to pace, Huberty said in the copy obtained by AppleInsider.
Sprint is considering an LTE strategy that would aim for nationwide deployment by the end of 2013, according to comments from Steve Elfman, the company's president of network operations and wholesale. Speaking at a telecom conference hosted by Morgan Stanley, the executive also suggests Sprint is capable of offering LTE devices by 2012.
Morgan Stanley analyst Katy Huberty today issued a note claiming evidence that the whole notebook industry is shrinking due to the iPad. She pointed to NPD data from August which showed retail notebook sales having declined year-over-year for the first time. Notebook sales had started falling rapidly in April, when the iPad first shipped, and the decline has already continued in the first week of September.
The iPad's sales rate is fast enough that it could grow faster in its first year than netbooks, Morgan Stanley analyst Katy Huberty estimated today. Having increased the expected iPad shipments in 2010 from 6 million to 10 million, Huberty estimates Apple could move 13 million to 16 million iPads in the tablet's first full year, or well over the 7.6 million netbooks that sold in that category's first 12 months.
Notebook shipments surged a massive 43 percent in the first three months of 2010, Gartner found today. About 49.4 million portables shipped and were lead by HP, which pushed almost 9.5 million notebooks and held 19.2 percent of the market. Acer and ASUS profited from their experiences in netbooks and were the fastest growers at 48.4 percent year-over-year (to 9.1 million) and 113 percent (to 4.3 million) respectively.
The iPhone and iPod touch are pushing the entire industry towards the mobile Internet, Morgan Stanley analyst Mary Meeker said at the Web 2.0 summit yesterday. With about 57 million of Apple's devices shipped since June 2007, their growth has not only been much more aggressive than landline Internet access in general but the entire home electronics industry. Three times as many iPhone-based devices exist as did AOL and Netscape users two years into their respective histories; Apple is also already outselling the Nintendo Wii despite its products coming half a year later.
Now AAPL Stock: 151.89 ( -1.5 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE