Money's Winners And Losers: NY Fed And AIG, Gawker Media, Eli Lilly, ZeekRewards, Best Buy, Fisker Automotive
August 24 2012 7:41 PM EDT
Each week, we pick the biggest, most dramatic, or most interesting winners and losers in money and business. Our picks for Aug. 19-24 include the Federal Reserve Bank of New York and Eli Lilly & Co. on one side, and ZeekRewards and Best Buy Co. Inc. on the other side.
Verdict Reached In Apple-Samsung Legal Battle In California
August 24 2012 6:24 PM EDT
The jury reached an earlier-than-expected verdict Friday in the Apple Inc. v. Samsung Electronics Co. Ltd. et al. case being heard by the U.S. District Court for the Northern District of California, according to multiple media reports.
Executives Flee Zynga, Rival Accuses Company Of 'Making Games For Grandmothers'
August 24 2012 5:00 PM EDT
Zynga Inc. lost another high-profile executive, when Alan Patmore, the San Francisco-based social game developer's general manager for its popular Facebook title "CityVille," left the company for Kixeye Inc.
Frank Gehry And Facebook: A Surprisingly Pastoral Partnership
August 24 2012 4:45 PM EDT
Facebook Inc. (Nasdaq: FB)'s stock may be sinking, but it is forging ahead with an expansion to its campus in Menlo Park, Calif., designed by the renowned architect Frank Gehry.
Amazon Sets New High After Signing NBCUniversal Kindle Deal
August 24 2012 1:37 PM EDT
Shares of Apple (Nasdaq: AAPL), the world's most valuable technology company, set a new year high after the developer of the Kindle and Kindle Fire said it would now offer streaming video from NBCUniversal, including hot shows such as “Friday Night Lights” and “Battlestar Galactica."
Exec On 'One Sony': ‘Entering A Big Bad World Where There Are No Rules’
August 24 2012 11:48 AM EDT
Four months after Sony unveiled its "One Sony" concept to recapture its leading role, Sony has finally offered a glimpse into its practical strategies to streamline integration between different hardware products and media platforms.
Kodak Confirms Plans To Sell Imaging Units In Bankruptcy Deal
August 24 2012 9:30 AM EDT
Bankrupt photography giant Eastman Kodak Co. (Pink: EKDKQ) announced it plans to sell its legacy businesses in cameras, film and photos to become a company that specialized in printers.
Nokia To Unveil 'Phi', 'Arrow' Windows Phone 8 Handsets With AT&T, T-Mobile; Plans 'Atlas' With Verizon
August 24 2012 7:23 AM EDT
Finnish mobile handset manufacturer Nokia finally seems to have made some headway with long-term partner Microsoft. Nokia is planning to introduce two new Windows Phone 8 devices in association with Microsoft Sept. 5.
South Korean Court Rules Apple, Samsung Infringed Patents, Bans Gadgets Of Both Companies
August 24 2012 5:06 AM EDT
As technology industry eagerly waits to hear the verdict of U.S. Federal District Court in Apple (AAPL), Samsung (005930) patent tussle a South Korean Court ruled Friday that both the firms were guilty of patent infringement and banned sales of Apple and Samsung smartphones and tablets.
ZeekRewards Class-Action Plaintiffs Hire Prominent NC Politician As Lawyer
August 23 2012 7:26 PM EDT
Plaintiffs for the class-action lawsuit filed against Rex Venture Group, ZeekRewards, and the company's found and CEO Paul Burks are being represented by James "Cal" Cunningham, a local politician and former member of the North Carolina Senate.
Salesforce.com 2Q Results: Benioff’s Strategy Keeps Profits Growing, Rising Ahead
August 23 2012 4:33 PM EDT
Salesforce.com's (NYSE: CRM) second-quarter results proved its strategy of adapting its software-as-a-service model to the increased use of the cloud by enterprises can pay off handsomely for investors.
Microsoft’s Facelift: New Logo Shown After 15 Years
August 23 2012 1:55 PM EDT
Microsoft (Nasdaq: MSFT), the world's biggest software company, is getting a facelift at 25. The company unveiled a new corporate logo Thursday that uses color for the first time: red, green, blue and yellow in squares next to the company name .
Salesforce.com 2Q Earnings Preview: Benioff’s Cloud Strategy Stays Hot
August 23 2012 11:27 AM EDT
Salesforce.com’s (NYSE: CRM)’s second-quarter results are expected to show that its strategy of adapting its software-as-a-service model to the increased use of the cloud by enterprises can pay off handsomely for investors.
Facebook Wins FTC OK For Instagram Purchase
August 23 2012 9:28 AM EDT
The U.S. Federal Trade Commission has approved the acquisition of private Instagram of San Francisco by Facebook (Nasdaq: FB), the No. 1 social networking site, the companies said. Originally priced at $1 billion, the value of the deal has shrunk to only about $750 million because of the slide in Facebook shares.
Whitman’s Ax: 4,000 Left HP Payroll in Third Quarter
August 23 2012 9:14 AM EDT
Hewlett-Packard Co. (NYSE: HPQ) CEO Margaret (Meg) Whitman has been swinging her ax at the company’s payroll: during the third quarter ended July 31, as 4,000 left the company as part of her plan to trim the roster, which was 349,600 on Oct. 31.
Sony Mobile To Cut 1,000 Jobs, Move Headquarters To Tokyo As Part Of Operational Restructuring
August 23 2012 6:09 AM EDT
Sony Mobile announced Thursday that it would lay off about 15 percent (approximately 1,000 personnel) of its global workforce as part of its global operational restructure. The company also announced that it would move its corporate headquarters from Lund, Sweden, to Tokyo, Japan in October.
ZeekRewards, Zeekler Affiliates File Class Action Lawsuit
August 22 2012 6:53 PM EDT
A class-action lawsuit was filed Wednesday against Rex Venture Group, ZeekRewards and the company's founder and CEO Paul Burks.
Apple Pulls Mac ‘Genius’ Ads Entirely: Why It's Not Over Yet
August 22 2012 5:26 PM EDT
In response to this unprecedented level of ad disapproval, Apple on Thursday reportedly pulled all of the "Genius" commercials from its website and from its YouTube channel. Apple would like to believe these three Mac commercials never existed, and so would we.
HP 3Q Results: Whitman Takes Record $8.9B Charge; Revenue Slumps Below Estimates
August 22 2012 4:24 PM EDT
Hewlett-Packard Co. (NYSE: HPQ), the world’s biggest computer company, reported third-quarter financials after the market close Wednesday, taking a record charge of $10.8 billion that resulted in a net loss of $8.9 billion, or $4.49 a share.
Facebook IPO: ‘Social Media’ Becomes Anti-Social For Investors
August 22 2012 3:14 PM EDT
The good news for investors in Facebook (Nasdaq: FB), the No. 1 social networking site, is that the shares didn’t set a new, post-initial public offering low on Wednesday. But they have come close, trading as low as $18.96 before recovering to $19.40, up 24 cents in late trading.