Wall Street Brief: Google Increases Cuts at Motorola, HP’s Future Looks Grim
Google Inc. (NASDAQ:GOOG) said in an amended SEC filing that it expects to increase the number of planned cuts its Motorola Mobility unit in the U.S. The company will also take a third-quarter charge of $340 million.
According to Bloomberg Businessweek, Apple (NASDAQ:AAPL) insiders have created a complex picture of the company in the post-Jobs era. It supposedly has a “singular focus” on showing cynics they are wrong and it is said to be “happier and even somewhat more transparent” than in the past. On a negative note, office politics have risen and there’s fewer “implicit pressure” on engineers. Other nuggets include that Steve Jobs supposedly came to “loathe” Google (NASDAQ:GOOG) and pondered whether to end its iOS search deal, but decided against it on worries of upsetting consumers.
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A grim forecast from Hewlett-Packard (NYSE:HPQ) from Wednesday’s analyst day prompted shares to plummet 13 percent. CEO Meg Whitman said FY13 is a “fix and rebuild” year that will include a broad-based profit fall (based on enterprise services), and presented cautious comments about the demand from Europe and China. Analysts forecast H-P’s FY13 APS to increase a bit. Streamlining H-P’s product line is a priority and the company will halve printer SKUs next year.
Amazon’s (NASDAQ:AMZN) Kindle Paperwhite e-reader is sold out until November and has an expected shipping time of 4-6 weeks for its Wi-Fi and 3G models. Earlier in the week, reviewers were very positive on the Paperwhite’s front-lit display, with most saying it is superior as compared to the Nook Glowlight (NYSE:BKS).
McDonald’s (NYSE:MCD) has filed a trademark with the United States Patent Trademark Office to utilize its name for ground and whole-bean coffee products; this could suggest either a possible move to sell bagged coffee in grocery stores or to prevent a competitor from using the name, reported the Wall Street Journal. The company’s McCafe menu has been very successful and now adds more than 6 percent of total sales.
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