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The BlackBerry maker will be cutting jobs aggressively while focusing on the BB10.
Giving a business update about the current quarter, RIM CEO Thorstein Heins warned that the company may slip to an operating loss this quarter as its BlackBerry phones continue to struggle against Apple's (AAPL) iPhone and a horde of smartphones running Google's (GOOG) Android.
The economy is stronger than last week's employment numbers indicate.
But we aren't weak. And I think that's really important.
We aren't weak, because we have data that are just too strong for me to write us off on punk employment numbers.
No, I am never going to write off the employment numbers as unimportant. Nothing is more important than employment. Nothing. We get jobs created, we get a boom.
According to analysts' estimates, losses may be as high as $4.2 billion.
What was initially thought to be a $2 billion trading loss for JPMorgan Chase (JPM) may actually be as high as $4.2 billion, according to one estimate.
Credit conditions around the world have further deteriorated after the bank reported a massive trading loss on May 10. According to research by International Strategy and Investment Group, the trading loss may be more than twice the initial estimate. Ed Najarian, an analyst at ISI Group, said that the loss would cut second-quarter earnings 30% to 65 cents per share from a prior estimate of 93 cents.
One initial public offering has been labeled a success, while the other has been tagged as a failure from the beginning.
When it comes to publicly traded social-media companies, two names dominate the conversation. Facebook (FB) and LinkedIn (LNKD) are social giants that are relatively new to public trading and already demand a heavy amount of attention. However, their stories could not be more different.
LinkedIn's initial public offering has been labeled a success on its resume, while Facebook's IPO has been tagged as a failure from the beginning.
What a difference a year can make. LinkedIn made its public trading debut on the New York Stock Exchange (NYX) in May 2011.
With declining supply and rising demand, this precious metal looks like a good investment.
So said North American Palladium (PAL) CFO Jeff Swinoga when he presented at last week's Euro Pacific Capital investor conference. Swinoga obviously has a vested interest in pushing palladium, but he made sure to back up his claims with evidence.
"The future outlook for palladium is excellent as it continues to benefit from positive supply and demand fundamentals," he said.
The social network's disastrous public offering burned a lot of small-time investors, many of whom were caught up in media-driven hype.
This week, Arthur Brisbane, the public editor at The New York Times, took his own paper to task for not expressing enough skepticism about Facebook's (FB) stratospheric stock price before its disastrous IPO on May 18.
"The Facebook story seemed to ride an ever-higher wave of media attention," says Brisbane, sweeping up average investors who wanted a piece of the company led by Mark Zuckerberg, whom the Times praised in hagiographic fashion as belonging to "a line of revolutionaries stretching back to Gutenberg."
The market is far from capitulating here.
Our stock market can fall aggressively, and anyone ignoring the risks can see their wealth wiped out in a hurry.
I am not saying this to strike fear into anyone, but if you are blind to the risk you definitely should open your eyes. There is considerable downside risk based on a number of factors and nothing speaks louder than visualization.
Corning has always been a stock that you buy as much for its tomorrows as for its products today.
As the tech company changes its business model to focus on services, it can use its cash to make acquisitions and develop products.
Dell ended the quarter with $17.2 billion in cash and investments. Its major competitors are IBM (IBM) and HP (HPQ) -- the global leader and Dell's rival in the PC market.
The food police are winning the public-relations battle.
The parent of the Disney Channel and ABC Family will require that food advertised on its networks meet a strict set of nutritional guidelines. Many popular products, such as Kraft (KFT) Luchables, along with fast food, sugary cereals and candy that are current advertisers, don't meet the guidelines, according to The New York Times. In addition, Disney will reduce the amount of sodium in children's meals sold at its theme parks by 25%.
Eurozone worries keep the major indexes basically flat.
Dollar General (DG) reported better-than-expected quarterly results on the top and bottom line and raised its full-year earnings view, but fears of dilution outweighed the positive sentiment about earnings as the company also filed to sell 25 million shares of common stock for holders. Dollar General's stock was down about 3% near noon.
The bank has introduced 3 sets of services in the past few weeks.
The bank released three separate sets of mobile-linked services and solutions over the last two weeks alone. During that time, the bank launched its new banking application for the iPad, a co-branded credit card application for Android, and its MobileMerchant payment solution for mobiles.
The EU needs to unify its stock markets, create a common banking system, and issue European bonds that can absorb all the fractured debt.
By Sheldon Liber
Ever since the creation of the European Economic Community and the European Union, there hasn't been much sense of community or union.
The adoption of the euro helped. However, it has been a major flaw that countries can't print currency but everyone can issue debt -- and they did, as much as they wanted. The biggest problem in Europe is the people are not united and this keeps the markets separate, including their stock markets: the DAX, FTSE, CAC, and Athens Exchange to name a few.
Marvell Technology is upgraded to 'market perform,' and Brocade is downgraded to 'hold.'
Tuesday's noteworthy upgrades include:
That is, if the Supreme Court upholds the health care reform law.
By Susan J. Aluise
As the U.S. Supreme Court mulls the fate of President Barack Obama's signature health reform law, the way these six men and three women eventually rule could have a significant impact on the stocks of managed care companies. And in almost every scenario but one, managed care companies could come out winners.
If the entire Affordable Care Act wins the constitutional challenge, managed care companies and insurers win big because they get to divvy up as many as 32 million new customers who'll be required by law to buy health insurance -- many of them young and healthy. That should more than offset any losses incurred by the requirement that the companies accept those with preexisting conditions or health risk factors.
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Excitement is growing about the company's new iPhone, expected this fall.
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[BRIEFING.COM] The stock market continued its strong start to the week with a broad-based Tuesday rally that sent the S&P 500 higher by 0.5%. Nine of ten sectors registered gains while the benchmark index extended its week-to-date advance to 1.4%.
Equities received an opening boost from a pair of economic data points that crossed the wires this morning. An in-line CPI report suggested inflationary pressures remain contained, while a better than expected Housing Starts report ... More
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