Profit Concern Causes Amazon Share Drops

Wednesday shares of Amazon.com Inc hit lowest levels since March, slipping 30 cents and moving from $170.25 earlier to closing at $180.21. Mid-October shares were at a record $246.71, 35% up for the year to date. The drop happened on concern that its big spending and aggressive pricing will gain well come holiday season through 2012. After the record October shares, Amazon introduced the Kindle Fire tablet at $199 which was...

Pincus Holds Dominant While Using Zynga IPO to Adv...

Mark Pincus, along with his bulldog Zinga and 20 more guys, regularly played soccer at San Francisco’s Golden Gate Park for years. Now, Pincus is the CEO of online games developer Zynga Inc. whose shares in an IPO this week on the Nasdaq stock exchange were valued at $9 billion. Pincus, described to be a control freak, retains company control even after it goes public. Special shares class allows him 37% voting power even...

Sprints Offers $1.6 Billion Help to Clearwire

Clearwire Corp’s liquidity crisis has prompted an offer of $1.6 billion help over the next 4 years from Sprint Nextel Corp, the 3rd U.S. mobile provider. It sent bankruptcy-risk Clearwire shares up by 14%. Part of the deal was an extension of Sprint’s Clearwire network use and possibly an equity combination and payment of Clearwire debt interest of $237 million due December 1. The majority of Clearwire is Sprint-owned...

AT&T Prepares for Possible Failure of T-Mobil...

U.S. regulators say AT&T’s takeover of T-Mobile USA would destroy jobs and limit competition down to three. Applications to the DOJ and U.S. Federal Communications Commission are temporarily withdrawn but AT&T and T-Mobile owner Deutsche Telekom said to continue to pursue the sale. AT&T faces a $4 billion charge should the takeover fail and will be a blow to CEO Randall Stephenson who confidently offered a big...

Google Results Assuage Ad Market, Costs Worries

Strong advertising sales and cost controls boosted Google Inc’s 3rd quarter results, its profit up by 26%, its revenue by 37%. The damp economic outlook more so in Europe caused advertising growth fears. However, Google’s profit and paid-clicks results brought positive 4th quarter outlook. Macquarie Research analyst Ben Schachter said softness in Western Europe is starting to be seen but it’s being more than made up...

Eric Schmidt Denies Rigged Google Search Results F...

Senate Judiciary Committee’s antitrust panel that looks into possible abuse reported that Google had become an anti-competitive Internet force. However, Google Inc.’s Chairman Eric Schmidt said search results were not cooked to favor its own. Mike Lee, a Republican Senator said Google is in a position to determine who succeeds or fails on the Internet, making it the biggest kingmaker on Earth. The Federal Trade...

Facebook Introduces Timeline, How Much Do You Valu...

Earlier Thursday morning at the annual f8 conference, Facebook showed off new features that it plans to roll out within the next few weeks to select users. One of the new features that Facebook introduced was Timeline. Timeline is a completely reformed profile that resembles a WordPress blog with a header that spans across the page with a photo of your choosing. Under the header is your information along with statuses,...

Apple’s Bid for Amazon Restriction Rejected by Jud...

Apple Inc, maker of the popular iPhones and iPad tablets filed a trademark lawsuit versus Amazon.com and wanted a quick stop of Amazon’s use of ‘App Store’. Apple said it was improper and aimed at soliciting U.S. software developers but Amazon countered by saying the term was generic. U.S. District Judge Phyllis Hamilton did not agree that the term is purely generic. However, the judge wrote in the order that was made...