iPods, iPhones, Macs lift Apple Profits by 67%
Apple Inc (AAPL.O: Quote, Profile, Research) blew by analysts' estimates with a 67 percent rise in profit on Monday as the popularity of its iPhone and iPod boosted Macintosh computer sales, and its shares jumped 7 percent.

Net profit climbed to $904 million, or $1.01 per share, in its fiscal fourth quarter, from $542 million, or 62 cents per share, a year ago. Revenue rose 29 percent to $6.22 billion.

Wall Street superfund: Not so super

A week after a Wall Street consortium said it would form a fund to buy mortgage-backed debt, doubts are growing over whether the plan will offer any swift relief to the beleaguered credit markets.

Few details about the planned "superfund," which could buy as much as $100 billion in debt, have emerged since it was announced Oct. 15. In the interim, renewed concerns about the credit crisis have rattled financial markets worldwide.

Netflix Posts Higher Profits
Netflix Inc.'s third-quarter profit topped analysts' expectations as the online-DVD-rental pioneer battled rival Blockbuster Inc. with a price-cutting strategy that helped revive subscriber growth.

The news, released after the stock market closed, lifted Netflix's share price by nearly 14% in after-hours trading.

KKR, Goldman to Invest in Harman
Two private equity groups will terminate their planned $8 billion buyout of Harman International Industries Inc. but will invest $400 million in the company as part of a deal that precludes litigation over the breakup, Harman said Monday.





Dell computers in Staples
Dell Inc (DELL.O: Quote, Profile, Research) said it would sell personal computers, printers, monitors and ink supplies in 1,400 Staples Inc (SPLS.O: Quote, Profile, Research) stores in the United States, its latest move into retail after breaking from 23 years of selling directly to consumers.


GM tops Toyota in Global Market
Toyota Motor Corp. said Monday it sold 2.34 million vehicles globally in the July-September quarter, fewer than General Motors' tally, as its U.S. rival regained the lead in the race to be the world's top auto maker.




Microsoft Drops EU Antitrust Appeal
Microsoft Corp.'s decision to drop its nine-year fight with European regulators could signal tougher regulation ahead for big, global technology companies operating in Europe.

The defeat also means Microsoft will need to tread carefully in Europe when it bundles products or features into its core operating system and will need to welcome competitors with fairly open arms if they come calling for ways to make their software work better with Microsoft's Windows operating system.

Citic, Bear Deal

James Cayne is famous for sticking close to home. But on Labor Day weekend the Chairman and Chief Executive Officer of Wall Street's Bear Stearns Cos. went to China in hopes of sealing a partnership with Citic Securities Co., the large Beijing investment bank.

That pact, announced yesterday after nearly two months of intense discussions, gives the beleaguered Bear a much-needed shot in the arm at a time when its U.S. business faces some tough head winds.

Oil Trades Near $86 as Diplomacy May Avert Attack on Kurds

Crude oil traded near $86 a barrel after Turkey signaled negotiations may help avert military action against Kurdish rebels in northern Iraq.

Prices had dropped earlier on speculation U.S. oil stockpiles rose for a second week. Turkey will await U.S. and Iraqi actions against the Kurdistan Workers' Party before mounting any raid, Prime Minister Recep Tayyip Erdogan said late yesterday at Oxford University in Britain.

Crude Oil Falls From Record Levels; Metals, Corn Fall, But Wheat Rises

Commodities were down broadly on Monday as investors booked profits on the rally of the past weeks amid a flight from risk in financial markets.
Fresh worries about the U.S. economy, as well as lingering problems from the crisis in credit markets, have made investors more cautious after many had leveraged heavily to push up energy, grains and agricultural prices last month.
Crude oil fell more than $2 from last week's record high above $90 a barrel. In agricultural markets, corn and soybeans futures tumbled, while only wheat bucked the trend.

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This entry was posted by David Choi, on Monday, October 22, 2007. You can leave your response.