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General Motors (NYSE:GM): Chief Executive Officer of General Motors, Dan Akerson, told employees that outdated ideas are holding the automaker back and he is planning on bringing the company into the 21st Century.
PayPal (NASDAQ:EBAY): A partnership between Paypal and leading Chinese e-commerce platform DHGate.com has unraveled. Due to disagreements between the two companies, DHGate.com stated that they will no longer accept PayPal as a payment method. This was PayPal’s biggest deal with the Chinese, whose online payment market is dominated by Alibaba, Tencent (TCEHY), and China UnionPay.
Kinross Gold (NYSE:KGC): After second quarter results, shares rebounded from early losses as investors accepted a three pronged strategy to get Kinross Gold back on track. “This value-driven approach may lead us to make tough choices,” new Chief Executive Officer, Paul Rollinson said, referring to a potential downsizing of their costly Tasiast project in Mauritania.
Boingo (NASDAQ:WIFI): Boingo crashed after missing their 2012 second quarter estimates and guidance of $111.2 million and $0.29 earnings per share. Their $108 – $111 million in revenue and $0.22-$0.27 EPS were below this consensus. Consequently, Deutsche is downgrading the firm, arguing that their visibility is limited and the lowered guidance may still be difficult to achieve. An issue that may be affecting Boingo is the increase of ad-supported Wi-Fi hotspots. To address this market, they have announced that they are buying Cloud Nine Media, a provider of ad-supported Wi-Fi.
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