Wall Street Brief: Apple DENIED, Nokia STUMBLES, Amazon PROGRESSES with Music
Apple’s (NASDAQ:AAPL) attempts to prevent Samsung’s (SSNLF.PK) flagship Galaxy S III launch on June 21 has been denied by U.S. District Judge Lucy Koh; she appears very frustrated with the large amount of lawsuits going around. A trial date has now been set for July 30.
Nokia (NYSE:NOK) announced another profit warning and an additional 10,000 job cuts by the end of 2013. The company believes its second quarter operating margin in its handset until will drop below the first quarter’s three percent level as it face challenges entering the smartphone market. It will see EUR 1.25 billion in restructuring charges.
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Microsoft (NASDAQ:MSFT) is conducting talks to buy Yammer, a provider for enterprise social networking sites, reported Bloomberg. It could come with a price tag for more than $1 billion. Yammer would join other Microsoft products that allow business collaboration, such as SharePoint, Exchange, Lync, and Skype.
Amazon (NASDAQ:AMZN) is completing licensing deals with the big studios for its cloud music service, reported CNET. The company already has agreements with Universal, EMI, and Sony Music (NYSE:SNE), and is currently conducting negotiations with Warner Music. The deals will enable Amazon to offer an iTunes Match-like ability to stream content owned by a user without an upload.
Winnebago Industries Inc. (NYSE:WGO) reported premarket that its third quarter profit more than tripled to $3.94 million ($0.13 cents per share) from $1.2 million ($0.04 cents per share) in the previous year. Revenue rose to $155.7 million, up from $135.6 million. Analysts had expected earnings of $0.12 cents per share on $164.7 million revenue.
Investing Insights: Facebook FLEXES Its Advertising Muscle With This New Service.