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Business, Financial & Legal Posts - Page 89

ReportTT: Yahoo's Board approves Tumblr acquisition for $1.1 billion

Yahoo's Board of Directors has reportedly approved a $1.1 billion acquisition of the blogging site Tumblr. News broke on Friday that Yahoo was considering picking up the blogging site that has slowly been gaining popularity among Internet users.

 

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The deal is expected to be announced tomorrow at the press conference that Yahoo hastily scheduled on Friday. Tumblr CEO David Karp will reportedly remain with Yahoo for a minimum of four years and he is said to be retaining a lot of control over the blogging service, much like Instagram's CEO did when acquired by Facebook.

 

If Yahoo does announce this deal tomorrow, we'll let you know.

Xbox 360 sales on top for 28 consecutive months

Microsoft's Xbox 360 continues to be the number one selling console...for 28 consecutive months! According to data from The NPD Group, as reported by Microsoft, April marked the 28th consecutive month that the Xbox 360 topped the console sales chart selling around 130,000 units in April.

 

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130,000 sales accounts for 42 percent of current-generation console sales. A total of $208 million was spent on Xbox and Xbox-related items (software and accessories) in just the month of April. It will be interesting to see if the Xbox 360 remains on top until the next-gen PlayStation and Xbox are released later this year.

ReportTT: Apple's iRadio held up over details for skipping songs

It's been widely rumored that Apple is working on bringing a streaming radio service much like Pandora or Spotify offer. While these rumors have been mostly rampant speculation, a report has surfaced that suggest iRadio is being delayed over its skipping songs policy. As most know, Pandora will only allow six skips per hour due to its license.

 

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Rumors suggested that Apple would unveil iRadio at this year's WWDC, but if reports that negotiations with Sony Music are stalling, the release could be delayed. According to CNet, the major issue stems from partial playing. Specifically, just how much will Apple pay for a song that is played partially before being skipped?

 

Sony and Apple declined to comment. Apple and Sony still have a few weeks to finish the deal before WWDC, so we'll see if iRadio ends up launching at WWDC--or at all.

ReportTT: Yahoo isn't the only one interested in Tumblr

It looks as though Tumblr might have more than just one suitor. According to a Forbes report, Microsoft and Facebook are also interested in the blogging network. However, these talks would be irrelevant if Yahoo makes an offer that is accepted by Tumblr. If Yahoo's scheduled event is to announce a partnership, these talks clearly haven't worked.

 

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Of course, the event could be used to announce an official offer for Tumblr without actually having an acceptance. However, Forbe's sources suggest that the Yahoo/Tumblr talks are progressing rapidly and well. Marissa Mayer would still need to secure an offer from Yahoo's Board of Directors before an official offer could be made.

 

Yahoo is probably attempting to get a lockup agreement that would prevent Microsoft, Facebook, and Yahoo from entering a bidding war.

Google wins award for Advertiser of the Year from the Clio Awards

Google lands Advertiser of the Year at this year's so-called "Oscars for Advertisers" the Clio Awards. The ads responsible for landing the prestigious award were Build with Chrome, 100,000 Stars, Re:Brief, Google Display, and Google Fiber. Check the bottom of this article for all of the ad videos.

 

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"Always start with rabid empathy and always strive for radical simplicity," Robert Wong, chief creative officer of Google Creative Lab, told Mashable after accepting the award at Wednesday's ceremony in New York City. "At the highest order, our job is to remind the world what it is they love about Google. Know the user, know the magic, connect the two," he added.

 

 

Wong went on to say:

We spend a lot of time trying to get creatives in the industry excited about the magic of digital and the potential of technology for emotional storytelling, so it was especially meaningful to be recognized for that work by this community - as part of this community. The coming together of art, copy and code has created completely new possibilities and uniquely new opportunities.

Continue reading 'Google wins award for Advertiser of the Year from the Clio Awards' (full post)

Dell releases Q1 financial report, falls short of estimates

This morning Dell released what could be its final public earnings report. In Q1 of Dell's 2014 fiscal year, the company managed to earn a revenue of $14.4 billion while managing to grow it's Enterprise Solutions, Services and Software department by 8 percent with year-over-year earnings up 12 percent to $5.5 billion. While the numbers are on par for what we thought we would see, the company still failed to meet Wall Street estimates.

 

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In a statement, Dell chief financial officer, Brian Gladden, had the following to say:

 

We made progress in building our enterprise solutions capabilities in the first quarter and are confident in our strategy to be the leading provider of end-to-end scalable solutions. In addition, we have taken actions to improve our competitive position in key areas of the business, especially in end-user computing, and it has affected profitability. We'll also continue to make important investments to support our strategy and drive long-term profitability.

 

If Michael Dell has his way and is able to ward off those standing in his way, this earnings report may just be the last one we see from the company. Dell is so confident that he will be able to take the company private that he has officially made no speculation or announcements on what he thinks the company may do in Q2.

AMD's stock falls 13% after Goldman Sachs rates the stock a 'sell'

AMD's stock has fallen by over 13 percent today after Goldman Sachs' analyst James Covello downgraded their stock rating to "sell." Part of the reason for the downgrade is the faltering PC market in which sales are showing no signs of recovering.

 

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AMD has had a few big wins lately. AMD was chosen to be the component provider for both Microsoft's and Sony's new next-generation gaming consoles. However, Covello doesn't believe that's enough to justify AMD's recent high of $4.40 per share.

 

AMD's stock has fallen 12.56 percent, down $0.55 to end at $3.83. After-hours trading hasn't been nice to the chip maker, either, with its stock falling an additional $0.01.

Opera settles lawsuit with former employee over allegations of trade secret theft

Opera has already settled a lawsuit against former employee Trond Werner Hansen. Hansen was accused of taking trade secrets and proprietary information from Opera and giving them to Mozilla after he left the company. While Hansen says that the lawsuit has been settled, he can't specify the details.

 

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But I'm very happy it's over and look forward to being able to focus on my music and other projects again.

 

Opera also confirmed that a settlement was reached, but would not speak specifics:

 

I can confirm that the case against Trond Werner Hansen has been dropped by Opera by reaching an agreement which has been satisfactory to both parties.

 

We previously reported about this lawsuit when it was first filed. At the time, Opera alleged that Hansen provided information to Mozilla that he wasn't entitled to give. Hansen, meanwhile, contended that he didn't break any laws or contractual obligations.

Mt. Gox bank account seized by US Department of Homeland Security

For the most part, the recent success of the Bitcoin can be attributed to Mt. Gox, the largest and most popular Bitcoin exchange on the internet. Earlier this week the Department of Homeland Security seized the Mutum Sigilum account Mt. Gox held at Wells Fargo bank.

 

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The Mutum Sigilum account was the lifeblood of Dwolla, the PayPal like Bitcoin to US currency processor. The account was seized based on several discrepancies in the paperwork Mt. Gox owner Mark Karpeles filled when opening the account with Wells Fargo. When the application asked if Mutum Sigilum LLC was a business engaged in monetary services, Karpeles stated "No." Below is an excerpt from the actual warrant used to seize the account.

 

The application asks several questions; to include, "Do you deal in or exchange currency for your customer?" and "Does your business accept funds from customers and send the funds based on customers' instructions (Money Transmitter)?" Karpeles answered these questions "no," indicating that Mutum Sigilum LLC does not deal in or exchange money, and that it does not send funds based on customer instructions. Money transmitting businesses are required by 31 USC section 5330 to register as such with FinCEN. According to FinCEN records on May 6, 2013, neither Mt. Gox nor the subsidiary, Mutum Sigilum LLC, is registered as a Money Service Business.

Google stock closes above $900, shares continue to rise in after-hours trading

Google I/O has certainly been good to Google's stock price. After today's opening day of Google I/O, Google's stock closed at a record high of $909.38, only to raise a further $2.81 in after-hours trading. The stock price currently sits at $918.70, the highest the stock has ever been.

 

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It was just three months ago that Google's stock originally crossed the $800 mark. In the time between then and now, not much has happened. The company hasn't really announced anything revolutionary or new, though Glass Explorer Edition has been handed out to developers. Apple's stock, meanwhile, fell 3.38 percent.

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