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Sales Double but Xbox Still Loses Out to PS4

Microsoft’s created a new SKU for Xbox One at $100 less than its original $499 price, which put it in line with the latest PlayStation 4 by Sony, which had enjoyed a price edge up to that point. The Microsoft strategy paid off as in June sales doubled from those in May. However, only two […]

IBM Profit Helped by Cost Cutting, Revenue Still Soft

International Business Machines failed for a ninth consecutive quarter to increase its revenue, but the tech giant’s bottom line was helped by a recent round of cost cutting. IBM on Thursday posted a net gain during the second quarter of 28%, partly from a charge of restructuring that held down results from the same period […]

Abbott Profit Beats Estimate

Abbott Laboratories Inc on Wednesday reported quarterly earnings that were better than had been expected thanks to improved sales in its line of nutritional products along with profit margins that improved for other segments. Sales of its nutritional products, the biggest lineup of products the company has, which includes infant formula Similac and adult beverages […]

Tech Earnings Front and Center On Wall Street

Some of the largest technology companies in the U.S. will be front and center this week as they report their quarterly earnings, which will give investors the chance to re-evaluate the health of the sector. The technology sector holds the projection for the highest growth in earnings amongst the 10 sectors of the S&P for […]

Yahoo Acquires RayV Startup in Video Streaming

Yahoo acquired RayV an online video streaming business. The goal is to distribute content to even more people particularly through mobile devices. RayV was founded in 2005 and focuses on efficiently distributing video that is HD-quality to an audience that is global while focusing on mobile devices. The terms of the acquisition were not released. […]

Profits Falls at Family Dollar Stores

Family Dollar Stores said on Thursday that it was taking more steps to increase its profits, while reporting earnings for the fiscal third quarter had fallen by 33% due to higher costs offsetting a slight upswing in revenue. In April, the discount retailer said it would shutter nearly 370 of its stores and lower the […]

Vatican Bank Restructuring Sees Profits Wiped Out

Over 2,000 accounts at the Vatican Bank have been blocked and more than 3,000 relationships with clients have been ended as part of the banks clean up and restructuring process that nearly wiped out all its profits, according to the financial statements from 2013 that were released on Tuesday. The bank has been riddled with […]

Jana Partners Announces Stake of 10% in PetSmart

PetSmart Inc. is being barked at by an activist investor. Jana Partners LLC announced late this week that it had acquired close to 10% of PetSmart. Jana Partners said it would ask for a meeting with the retailer of pet supplies about its strategic options including the possibility of a sale. The investor, which manages […]

Dow Passes 17,000 in Intraday Trading

The Dow has finally reached 17,000. Following an entire week of tiptoeing around the mark, the Dow crossed it finally on Thursday morning. Many investors see the mark as a psychological threshold however it is a level the stocks in the U.S. have not seen before and comes only six months from the time the […]

Samsung Encounters Labor Issues Amongst Suppliers in China

Samsung wants the recognition of being one of the top 10 places of employment in the world. It is a core goal for the South Korean based company in its Vision 2020 plan of the future. However, to reach that it will have to make many corrections on working practices at different manufacturing plants that […]