Tech Business Roundup: Wall Street Lowers Apple, Scott Thompson Drama Continues
Scott Thompson News…Scott Thompson News… The embattled CEO of Yahoo (NASDAQ:YHOO) is said to have told company executives on Thursday that not only did he not make false statements about his academic records, he didn’t submit a resume. In a further clarification, a check by the New York Times reveals that Yahoo files and PayPal corporate biography do indeed include a computer science degree connected with Thompson, but that it does not show up in eBay files, nor in those of two firms of which he is Director. One might think that in the process of applying to be CEO of a major world company, his college transcripts might have been requested.
Further Reading: The Curious Case of Scott Thompson’s Resume.
TheStreet.com (NASDAQ:TST) will partner with online brokerage Zecco in content swapping, to benefit trading technology, say the two companies. The latter is now one of the first firms to allow users of Facebook to trade directly from their accounts.
It is rumored that certain new additions to the YouTube (NASDAQ:GOOG) repertoire might soon be subject to subscription, i.e., fees, says the New York Post. These new items would be part of a premium offering, with ‘top-shelf’ content. The report assures us, however, that YouTube will not begin charging for its programs that are already free.
Slumping smartphone growth in the United States is negatively impacting even Apple (NASDAQ:AAPL), reports Credit Suisse’s Kulbinder Garcha, who lowers the giant’s 2012 and 2013 earnings estimates to reflect increased carrier pressures from tougher smartphone upgrade policies. Further, Garcha notes that Apple is more susceptible to carrier changes near-term than other suppliers but he remains confident of robust bottom-line growth, and thinks its valuation is still compelling.
Shares of chip- equipment supplier Brooks Automation (NASDAQ:BRKS) move lower even though Friday’s fiscal second quarter earnings report beat consensus. Although net earnings fell 64 percent year-to-year due to weaker sales, Brooks’ profits were saved by a stronger demand from the life sciences unit.
As Facebooks’s (FB) road show moves across the U.S., the company’s co-founder Eduardo Saverin officially moves out of the U.S., as he renounces his American citizenship. Saverin is said to be living it up in Singapore, and apparently he will shave off a wad of his U.S. tax bill there, as well.
American depository receipts of Sony (NYSE:SNE) slide following release of the news that the Japanese conglomerate posted its fourth straight annual loss Thursday night. On the upside, Sony says that it projects a fiscal year 2012 swing to profit.
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