Intel defies worries with revenue jump July 20, 2011 INTEL Corp’s quarterly revenue forecasts trumped Wall Street’s expectations, defying investors’ concerns about slowing personal computer sales and buoying its shares. Doubts about high US unemployment, the risk of a European financial crisis, climbing inventories and sluggish PC sales had clouded the second-half outlook for Intel and other chip makers like Advanced Micro Devices. But [...]
eBay quarterly results top market expectations July 20, 2011 EBAY reported better-than-expected quarterly results yesterday driven by demand for its PayPal payment service, and a rise the value of merchandise sold through its main online market place rose. EBay said its second-quarter net income fell to $283.4m (£175.5m), or 22 cents per share compared with $412m (£255m), or 31 cents a share, in the [...]
Melrose shows credentials as it returns capital July 20, 2011 MELROSE, the industrial turnaround investor pursuing Charter International, said it was returning £373m to its investors yesterday after completing the sale of one of its investee companies. Melrose used its £377m sale of metal casting business Dynacast to demonstrate its successful turnaround track record and value addition credentials to reinforce its position as a good [...]
Yell shouted down by its shareholders July 20, 2011 YELL Group tanked 13.5 per cent yesterday after seeing its profits and revenues for the first quarter slide. Weakness in its print division continues to hurt the Yellow Pages directories publisher, with revenue falling 11 per cent to £383.3m, and Ebitda down £20.2m to £109m. Print and other directory revenue fell 19 per cent, while [...]
Samsung launches iPad 2 rival July 20, 2011 SAMSUNG yesterday launched a thinner, lighter version of its Galaxy tablet in a bid to claw back market share from a rampant Apple. The Galaxy Tab 10.1 inch is an upgraded version of the 7-inch tablet introduced in October. It has a bigger, brighter screen and weighs less than the iPad 2. However, it has [...]
BT forced into making cuts on broadband rate July 20, 2011 BT will have to cut the wholesale prices it can charge Internet Service Providers (ISPs) using its broadband network by 12 per cent on top of inflation each year, under a decision made yesterday by the regulator Ofcom. The price reduction, which will be in place by mid August of this year and continue until [...]
Playtech soars after signing bumper contract with gaming giant Gala Coral July 20, 2011 ONLINE gambling software provider Playtech said yesterday it has signed a long-term contract to provide a technology platform and gaming products to Europe’s biggest gambling company Gala Coral, sending its shares up almost nine per cent. Estonia-based Playtech said its products would support Gala Coral’s entire product range, including sports betting, and would take effect [...]
Imagination and ARM ride on Apple’s coat tails July 20, 2011 ARM Holdings surged almost six per cent yesterday, riding on the coat tails of Apple’s bumper results on Tuesday night. The UK chip designer creates chips for Apple’s blockbuster iPad and iPhone products. It is expected to feature a powerful new chip in the upcoming iPhone 5. Imagination Technologies, which also designs chips for Cupertino-based [...]
ANALYST VIEWS: IS THERE LIGHT AT THE END OF THE TUNNEL FOR YELL? July 20, 2011 ALAN HOWARD | CANACCORD This is more negative news on current trading for Yell, and another reminder that investors have yet to see any significant light at the end of the tunnel: the rate of decline of business, driven by the economic downturn and online migration, has yet to show any meaningful recovery. JUSTIN URQUHART-STEWART [...]
AstraZeneca hit as diabetes drug fails July 20, 2011 PHARMACEUTICAL giant AstraZeneca’s shares fell as much as 1.5 per cent yesterday after US medical regulators rejected its new diabetes drug because of its potential side-effects. Federal drug authorities said experimental diabetes medicine dapagliflozin should not be allowed on the market. The advisory panel vote on dapagliflozin, a once-daily pill designed to eliminate blood sugar [...]