Takeaways for today (10/16/2007)
10/16/2007
Mobile PC Demands Lift Intel Net 43%
Intel Corp. is finally beginning to fire on all cylinders.
The Silicon Valley giant -- exploiting solid demand for portable computers and a variety of chips that have made gains against those of rival Advanced Micro Devices Inc. -- reported a 43% jump in net income and a 15% rise in revenue for the third quarter.
Intel's growth exceeded its own upgraded forecast, made last month, and the company pointed to further gains in the current quarter. It indicated that revenue would grow by about 11% in the fourth period from a year earlier, and it predicted a sharp upward ...
Woo-hoo for Yahoo! and YangYahoo Inc. Chief Executive Jerry Yang beat investors' expectations for his first full quarter at the helm, and investors responded by sending the Internet company's shares up nearly 9% in after-hours trading.
The Sunnyvale, Calif., company reported a 4.6% drop in third-quarter profit, but revenue increased 12% as Yahoo benefited from improvements to its search-advertising system and an easier comparison with weak revenue from graphical display advertising, such as banner ads, in the third quarter of 2006.
Countrywide sees $125-$150 mln charge over job cutsCountrywide Financial Corp (CFC.N: Quote, Profile, Research), the largest U.S. mortgage lender, said on Tuesday it expects to incur a $125 million to $150 million pretax restructuring charge in connection with its plan to eliminate 10,000 to 12,000 jobs to cope with the U.S. housing slump.
In a U.S. Securities and Exchange Commission filing, Countrywide said the charge includes $30 million to $35 million for termination benefits, $73 million to $89 million to end leases, and $22 million to $26 million of other expenses.
Oil holds ground after six-day surge to $88 highCrude oil prices continued a months-long bullish run with another record-setting day: On Oct. 16, the price for a barrel of light sweet crude surged $1.48, to settle at $87.61 on the New York Mercantile Exchange, the highest mark recorded since contracts started trading on the exchange.
2008 mortgage originations to hit 8-year low: MBA
Mortgage originations will fall next year to the lowest levels since 2000, forcing job losses for at least 30,000 more home finance professionals, according to a forecast released on Wednesday by the Mortgage Bankers Association.Inventories of homes for sale will remain high as tighter lending standards across the industry reduce available credit for prospective home-buyers, said Doug Duncan, the MBA's chief economist. Foreclosures as a result of increasing payments on adjustable-rate loans or poor underwriting will exacerbate the problem, he said.
Apple Reduces Prices on iTunes Songs Without Anti-Copying Software
Apple has officially announced plans to lower the price of its iTunes Plus offerings (AKA iTunes sans-DRM) to $.99, instead of the higher-priced premium of $1.29. Old Jobsy claims that the decision was made due to the popularity of the unlocked, higher quality tracks with customers, saying, "It's been very popular with our customers, and we're making it even more affordable." Of course, it also seems likely that iTunes and Apple are feeling the burn from the new wave of DRM-free music providers, like Amazon, and the persistent rumors / news of former playmate Universal amassing an "anti-iTunes" which could seriously compete with the Cupertino monolith's business.
I.B.M. Reports a Solid Quarter, Aided by Services
I.B.M. reported solid quarterly sales and profits that matched Wall Street’s expectations with the strong performance of its big services business offsetting weakness in hardware and software.
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This entry was posted by David Choi, on
Tuesday, October 16, 2007.
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