Within International Business Machines Corp., Robert W. Moffat Jr. was known as a “quintessential IBMer,” rising to Big Blue’s top echelons by relentlessly cutting costs to boost profits. To the rest of the world, he is becoming known as one of the highest-ranking executives to be embroiled in an insider-trading scandal since Wall Street was rocked by such schemes in the 1980s.
European privacy regulators could be about to throw a spanner into the works of attempts by social networking sites such as Facebook to find new ways to increase profits as they try to restrict the way internet groups release personal data.
Nokia shares are headed sharply higher this morning after the company indicated the worst may be over for the mobile phone business.
For the first quarter, the company posted revenue of 9.276 billion Euros, down 26.7 percent year over year, and 26.8 percent sequentially. Revenues from the device business were down 33.4 percent year over year, and 24.2 percent from Q4.
The “Web toy” is hot. Who cares how Twitter will make money?
Best Buy this morning reported sharply higher-than-expected profits for its fiscal fourth quarter ended Feb. 28.
For the quarter, the last large national electronics retailer posted revenue of $14.724 billion, a bit below the Street consensus at $14.8 billion. But adjusted EPS of $1.61 a share nicely beat the Street at $1.40 a share.
24/7 Wall St. has created a list of the 10 major daily papers that are most likely to fold or shutter their print operations and only publish online. Based on its analysis, it’s possible that eight of the nation’s 50 largest daily newspapers could cease publication in the next 18 months.
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