Mac sales push Apple profits up July 20, 2010 APPLE stunned investors last night after posting better than expected third quarter results, bolstered by hearty Mac computer sales. For the period ended 26 June, revenue climbed by 61 per cent to $15.7bn (£10.2bn), while net quarterly profit almost doubled on the same period last year and came to $3.25bn. The California based group tied [...]
Amazon sees ebook sales outpace hard covers for first time July 20, 2010 AMAZON says digital publishing has reached a “tipping point” after revealing it now sells more ebooks than hardcover versions. The internet giant has staged a spirited fightback against the hugely successful iPad, slashing its price in the US from $259 (£170) to $189. This has driven a surge in sales for its Kindle reader. Amazon [...]
Nokia set to oust chief executive July 20, 2010 Nokia has begun looking for candidates to replace chief executive Olli-Pekka Kallasvuo, who has struggled to keep up with rivals Apple and Google in the fiercely competitive smart-phone market. Sources close to the firm say Kallasvuo may be ousted as early as the end of July, as the firm’s stock continues its decline. Kallasvuo, who [...]
FTSE knocked for fifth day as US results hit confidence July 20, 2010 BRITAIN’S top share index ended lower yesterday for a fifth straight session as generally disappointing US results hurt investor sentiment, offsetting strong gains from mining stocks buoyed by firmer metals prices. The FTSE 100 closed down 8.82 points, or 0.2 per cent, at 5,139.46, having fallen 0.2 per cent on Monday. TELECOMS HIT BY BUDGET [...]
US shares buoyed by Goldman stock rise July 20, 2010 US stocks rose for a second consecutive day yesterday, led by gains in shares of Goldman Sachs and strength in beaten-down homebuilders and raw materials companies. Goldman Sachs Group rose 2.2 per cent as buyers materialised after an early selloff on news the investment bank’s quarterly earnings tumbled 82 per cent, steeper than forecast. “Most [...]
CAR TALK July 20, 2010 PEUGEOT’S NEW LOOK Take note. This is the new Peugeot 508 which is the biggest indicator yet of how much more handsome Peugeot cars are going to become. The 508 replaces two cars in the Peugeot range – the 407 and 607 – and is better looking than either. Thanks to its narrower grille and [...]
Google set to win in China July 19, 2010 APPLE may be taking the headlines in Europe with the launch of its iPhone 4, which despite well publicised antenna issues, continues to sell at a blistering pace. But the California-based firm is losing the biggest battle in mobile technology to arch-rival Google – which is to conquer China. Google’s Android software is muscling its [...]
WALL STREET WEEK AHEAD July 18, 2010 AFTER ugly economic data and an unexpected downturn in sentiment on quarterly earnings, Wall Street will face a tough time battling back from the latest sell-off. Technology and banking results will once again shape investor mind-set in a week dominated by a blitz of quarterly earnings. But it will be a tough job to shift [...]
Don’t bet on strong bank earnings July 18, 2010 REACTIONS were mixed as the first of the season’s US bank earnings rolled in last week. Some analysts – like GFT’s David Morrison – were blaming poor revenue growth reported by Citigroup and Bank of America-Merrill Lynch (BoA-ML) on Friday for the subsequent dip in the S&P 500 as it plunged 2.09 per cent in [...]
SPREAD BET GURU July 18, 2010 MARKET STRATEGIST josh@cityindex.com Q. Dear Josh, what are the main weightings behind the FTSE 100 index? A. The FTSE 100 is a weighted index of the leading 100 companies, as measured by market value, that are listed on the London Stock Exchange. As you might expect, the companies with the highest market capitalisation have the [...]