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Main market news here.Update: Stock futures are now positive following flat core PPI numbers. Markets could open higher.
Apple Inc. (NASDAQ: APPL) is delaying the new Mac OS X "Leopard" by four months and will be shipping it only in October instead of June. The reason Apple gave is that it needed to divert resources from the project so that it could launch its highly anticipated iPhone on time. I have no doubt that after so many pundits have remarked about the serious consequences an iPhone delay would have on Apple stock, that the company decided to on this strategy. AAPL shares are down 1.7% in pre-market trading. I wonder how much it would have been down if the iPhone, not the Leopard, was delayed.
The long-time dispute between Nokia Corp. (NYSE: NOK) and Qualcomm Inc. (NASDAQ: QCOM) over patent royalties doesn't seem to have an end in sight. Today, Nokia said that Qualcomm is the largest user in the world of its technology and patents, rejecting Qualcomm's statements that it does not use Nokia patents.
Google Inc. (NASDAQ: GOOG) is expanding the availability of Google Checkout, its online payment service. Today it made the service available to retailers in Britain, its first foray outside the US. Google Checkout, originally named PayPal killer, has been slow to make advances in the market place as eBay Inc.'s (NASDAQ: EBAY) PayPal has a big (big) lead on it, domestically and internationally.
According to the Wall Street Journal today, large U.S. drug makers are set to report mixed financial results [subscription] for the first quarter. While some like Wyeth and Schering-Plough Corp. will benefit from rising sales of certain drugs, others like Pfizer Inc. and Bristol-Myers Squibb Co. have seen sales of key products decline because of the recent introduction of cheaper generics.
Yesterday, XM Satellite Radio Holdings Inc. (NASDAQ: XMSR) and Sirius Satellite Radio Inc. (NASDAQ: SIRI) said they received a request from the U.S. Department of Justice for more information on their proposed merger. This only means that the DOJ found potential antitrust problems and plans to investigate further. No matter, SIRI shares are up 3.9% and XMSR shares are up 2.9% in pre-market trading.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
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Reader Comments (Page 1 of 1)
4-13-2007 @ 9:52AM
freeforall said...
The XM/Sirius merger is a bad idea. I do some work with the National Association of Broadcasters and the merger will give XM/Sirius an unfair advantage against local stations.
I envision XM/Sirius charging their customers more and using these profits to undercut the rates local radio stations charge.
4-13-2007 @ 11:35AM
Ron said...
The Merger should go through. The companies have no reason to raise prices, and if they did people would just cancel. It's pretty simple. It's not like they're raising prices on an item that is necessary to own. Enough about that already.
4-13-2007 @ 2:42PM
JB said...
'Freeforall' is getting paid by the NAB.
The merger will be approved, plenty of competition from ipod, commercial radio, and the other many forms of audio.