iPad Mini Debut, eBay Goes Back To China: Tech Business Roundup
The iPad mini (NASDAQ:AAPL) went on sale Friday, but the usual long lines and hubbub which go with an Apple debut were missing. Reasons for this might be because the specifications for the product are disappointing, while the models on sale do not contain the chips that support high-speed cellular Internet. However, those should appear in a couple of weeks.
Reportedly, eBay (NASDAQ:EBAY) will make another try at entering China by the creation of a partnership with luxury retailer Xiu.com, with event to be announced on November 12th. eBay retrenched in China in 2007, but is now making this move completely aware of the circumstances, as it indicated in January that it anticipates losses on new sites in most countries for a minimum of a year.
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Shares of Verizon Communications (NYSE:VZ) dip modestly following word that Hurricane Sandy might have a “significant” impact on its fourth quarter results. Some of the company’s New York City switching facilities were flooded and it is now concentrating its resources upon restoring services to affected customers, warning that it “may take some time.”
Quantum Corporation (NYSE:QTM) shares pop on the news that Starboard Value disclosed a 15.9 percent interest and says it will conduct discussions with management concerning board representation along with actions which “can dramatically increase profitability.” Recently, Quantum was hit with weak fiscal second quarter results and a convertible debt offering in which Starboard says it took part.