Microsoft's revenue down 17%, Shares tumble
Microsoft released fourth-quarter earnings on Thursday which missed Wall Street estimates and reported its first decline in full-year revenue in the company's 34-year history. For the quarter ended June 30, the software giant reported earnings of $3.05 billion, or 34 cents a share, down from $4.3 billion, or 46 cents a share, a year earlier. Read Full Article here.
Yahoo outlook misses expectations
Yahoo Inc's third-quarter forecasts fell short of Wall Street expectations, sending shares 3.2 percent lower, as the Internet company announced plans to step up spending despite persistent weakness in the advertising market. Read Full Article here.
AT&T profit higher than estimated
AT&T Inc posted a smaller-than-expected drop in quarterly profit as strong sales of Apple Inc's iPhone helped boost wireless subscriber growth. Some analysts are concerned that the company's dependence on the iPhone for much of its growth raised concerns about what would happen if it lost its exclusive rights to sell the phone in the U.S. Read Full Article here.
South Korea fines Qualcomm $208 million in anti-trust case
South Korea's anti-trust agency issued a $208 million fine on Qualcomm Inc and ordered the U.S. wireless chip and technology company to stop discriminating against companies using competitor's products. Read Full Article here.
Ericsson in bid for Nortel wireless assets
Swedish telecom equipment maker Ericsson is bidding for Nortel's mobile network division. Read Full Article here.