Coverage: Apple’s profits fall, but stock price up on earnings beat
Earnings stories can be boring, but for a company like Apple Inc., its earnings coverage is closely read because of the company’s size and importance in the tech industry. Kif Leswing of Business Insider has the news from Tuesday after the markets closed: Apple stock jumped as much as 6.5% after the company reported earnings per share higher than […]
Coverage: Ericsson hangs up on its CEO
Swedish telecom company Ericsson fired its chief executive officer on Monday after pressure from major shareholders unhappy with its results. Sven Nordenstam of Reuters had the news: Investment companies Investor AB and Industrivarden, with a combined 37 percent of voting rights, had voiced dissatisfaction with Ericsson’s performance, culminating in unprecedented public criticism in February. Ericsson, which is battling […]
Coverage: Verizon buys Yahoo for $4.8 billion
Verizon Communications is expected to announce a deal Monday morning to acquire Yahoo Inc. for $4.8 billion, adding it to its AOL internet business. Ryan Knutson and Deepa Seetharaman of The Wall Street Journal have the news: The price tag, which includes Yahoo’s core internet business and some real estate, is a remarkable fall for the Silicon […]
Coverage: GM posts best quarter since bankruptcy
General Motors Co. announced Thursday its best earnings report since the automaker filed for bankruptcy court protection eight years ago, but it issued a warning about its results for the rest of the year. Gautham Nagesh of the Wall Street Journal had the news: Results for the quarter benefited from a continued shift in the U.S. […]
Ex-USA Today biz reporter launching Louisville biz news site
A former USA Today business journalist plans to launch a business news site on Aug. 1 covering the top companies in Louisville. Jim Hopkins‘ site will be called Boulevard. Hopkins will be focusing on 10 big employers in the area — from Amazon to Yum Brands, parent company of KFC, Pizza Hut and Taco Bell. Combined, they […]
Coverage: Ailes headed for the Fox News door
Roger Ailes, the 76-year-old chairman of Fox News, is negotiating an exit from the company, part of 21st Century Fox, less than a month after being hit with a sexual harassment lawsuit by former Fox anchor Gretchen Carlson. John Koblin and Jim Rutenberg of the New York Times had the news: Mr. Ailes and 21st Century Fox, Fox […]
Coverage: Netflix shares drop as subscriber growth slows
Netflix Inc. reported Monday that its subscriptions in the second quarter grew much less than analysts expected, sending its stock down 13 percent in after-hours trading. Shalini Ramachandran and Maria Armental of The Wall Street Journal had the news: However, the Los Gatos, Calif.-based company also reported earnings that handily beat analysts’ earnings estimates and […]
Company sues ex-worker for providing info to Bloomberg reporter
WeWork Companies Inc. has filed a lawsuit against a former employee who gave company financial information to a Bloomberg News reporter. Herbert Lash of Reuters writes, “In a complaint filed late on Friday with the New York Supreme Court for Manhattan, WeWork accused Joanna Strange, who was fired June 10, of unlawful access to its computers […]
Coverage: Bayer boosts bid for Monsanto
German drug and chemical company Bayer AG upped its offer for American seed company Monsanto to $64 billion, putting pressure on the target to consider the deal. Greg Roumeliotis and Karl Plume of Reuters had the news: Analysts and some Monsanto shareholders were quick to opine that Bayer’s latest offer, the largest all-cash takeover bid on record, was unlikely […]
Coverage: Pokeman Go craze drives Nintendo stock price
Nintendo Co. Ltd.’s shares soared again on Monday, bringing market-value gains to $7.5 billion in just two days as investors cheered the runaway success of Pokemon Go, its long-awaited venture in mobile gaming. Takashi Mochizuki and Sarah Needleman of The Wall Street Journal have the news: “Pokémon Go,” which was released less than a week ago, […]
