According to internal company and agency documents, the Wall Street Journal reported that the FAA is investigating into why AMR Corporation's (NYSE: AMR) American Airlines ordered mechanics to skip specific safety instructions to detect damage to planes from potential lightning strikes.
Yahoo! Inc (NASDAQ: YHOO) is trying to quickly put the finishing touches on a search advertising deal with Google Inc (NASDAQ: GOOG) as billionaire Carl Icahn launches a proxy fight for control of Yahoo's board, according to the New York Post. Yahoo! hopes to announce a deal with Google to create an open platform system within the next week, two inside sources said.
The New York Post reported that a partnership of MGM Mirage (NYSE: MGM) and investment company Dubai World may seek to buy the Drake Hotel site from developer Harry Macklowe. If a deal is reached, MGM and Dubai World would assume $580M in defaulted debt and interest, inside sources said.
Looks like Microsoft Corp. (NASDAQ: MSFT) will be working with longtime nemesis Research in Motion Ltd. (NASDAQ: RIMM) to bring its Windows Live services to the BlackBerry mobile platform. Windows Mobile, the smartphone operating system made by Microsoft that is a direct competitor to RIM's BlackBerry smartphone operating system, is already integrated with Microsoft's Live services, naturally.
While RIM figured out long ago that instant access to secure email in a small, portable device was the key to its fortune, Microsoft took years to discover that same fact, and now provides a similar solution on its Windows Mobile platform. But providing access to Windows Live to the biggest competitor it has in the smartphone arena can mean only one thing: Microsoft is trying to fend off Apple Inc.'s (NASDAQ: AAPL) iPhone.
At the same time, Microsoft wants to get as many customers using its Windows Live services on those mobile phones as possible. The iPhone reportedly will shortly work with Microsoft's Exchange corporate email servers to allow the same "push email" functionality that put the BlackBerry on the map. That is, instant, real-time email wherever you are. Those with Microsoft's Hotmail email service will also enjoy real-time "push" email with this new partnership. But make no mistake -- RIM and Microsoft will need to do more to fend up the upstart competitor, Apple. If a new iPhone is announced this summer as expected, both RIM and Microsoft will see even more turbulence in the mobile markets.
RIMM announced the introduction of BlackBerry Bold smartphone.
Smith Barney says: "We expect its 3G capability will help drive strong international growth for RIMM. We expect AT&T (NYSE: T) will be the first domestic carrier to offer the Bold."
RIMM call option volume of 77,745 contracts compares to put volume of 45,526 contracts. RIMM June option implied volatility of 45 is below its 26-week average of 57 according to Track Data, suggesting decreasing movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
Yahoo! Inc (NASDAQ: YHOO) is going to let outside developers create applications across its network of sites, the New York Times contended. The search engine is also going to combine its online services under the social profile concept in an attempt to allow its users to replicate the social experience that social networks like News Corporation's (NYSE: NWS) MySpace and Facebook have made so popular.
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Research In Motion Limited (NASDAQ: RIMM) will reportedly delay the launch of its new hotly anticipated 3G BlackBerry phone, Fortune reported, which the company is developing for AT&T Inc (NYSE: T). The phone, originally supposed to be launched in June, may not be released until as late as August, inside sources said.
Research In Motion (NASDAQ: RIMM) is a leading provider of wireless communications hardware, software and services. Company devices allow access to email, telephone, messaging, Internet and intranet-based applications. RIM products include the BlackBerry wireless platform and the RIM Wireless Handheld product line. The firm also provides software development tools and makes radio-based modems that other manufacturers incorporate into their portable devices. Competitors include Microsoft (NASDAQ: MSFT), Motorola (NYSE: MOT) and Nokia (NYSE: NOK).
The company surprised the Street earlier in the month, when it reported Q4 EPS of 72 cents and revenues of $1.88 billion. Analysts had been looking for 70 cents and $1.86 billion. Management also guided Q1 EPS to 82-86 cents (76 cent consensus) and Q1 revenues to $2.23-$2.30 billion ($2.02B consensus). In discussing the solid numbers, the firm noted that heightened retail activities helped drive exceptional subscriber growth during the quarter. Oppenheimer, Lehman Brothers and Caris subsequently reiterated "buy" recommendations on the stock and declared price targets in the $135-$150 range.
"The more I look at Apple (NASDAQ: AAPL) and its new iPhone, the more I consider it to be, perhaps, the most innovative and transformative company in mobile computing today," notes wireless sector expert Nikhil Hutheesing.
The editor of The Forbes Wireless Stock Watch explains, "Put simply, iPhone is a game-changing product, and we are now making the case for investors to buy the stock."
"When Apple first announced its move into the wireless PDA business - in January 2007 when it introduced its iPhone - there was skepticism over whether it would be able to grab market share from incumbents like Research In Motion, which makes the BlackBerry smartphone and Palm which makes Treo handhelds.
"Nobody is doubting Apple today. Steve Jobs' iPhone is in the hands of over four million people and it is now the number two smartphone in the business with a 28% market share. It has surpassed Palm and is nipping at the heels of RIMM's BlackBerry.
"Until recently, iPhone, like Apple's Mac has been a fairly 'closed' universe. It was a great consumer device but it had little presence among large corporate users, the so-called enterprise market. That all changed in March.
Research in Motion (NASDAQ: RIMM), the company behind the super popular BlackBerry messaging device, delivered strong forecasts that topped what analysts were expecting. In spite of what many fear to be a very dour situation for technology companies, and particularly those focused on the consumer electronics, RIMM put up some very impressive numbers, propelling the stock upwards in pre-market trading.
Instead of paring back spending, consumers seem to be continuing its spending (at least on Crackberries) as the company reported that it had nearly doubled its revenues in the last year.
There are now officially 14 million RIMM devices out there. ``The BlackBerry has moved from being an enterprise tool to being something that soccer moms are using," said one analyst interviewed by Bloomberg.
As armchair analysts, we should ask ourselves why does RIMM continue to perform even in the face of recession/depression/chicken-little-sky-is-caving-in scenarios?
I think obsession is the word to describe it.
Readers should be intrigued to know that the BBC reported that mega-star Madonna "sleeps with her BlackBerry" under her pillow, just in case she "remembers something during the night."
Um, ever heard of paper and pen?
For those addicted to the aptly-nicknamed Crackberry, they just can't stop. Try to get their attention over dinner? Sorry, their shifty eyes are always glancing down. Want a quiet, intimate time alone with the family? Oops, I forgot, someone is attached by what I call "the world's longest leash."
And what if that someone is yours truly? Guilty as charged...
Zack Miller is the managing editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund.
When you're a small country stacked right up against the mighty U.S., you tend to take pride in any success by a fellow countryman. Such is Canada's fate, and if you ask any Canadian, he will be able to name you all the Canadian actors who made it in Hollywood. Similarly, ask about successful companies and Canadians will proudly mention Research in Motion Ltd. (NASDAQ: RIMM). Indeed, the company did not disappoint this afternoon when it reported that fiscal fourth-quarter profit and sales more than doubled.
The BlackBerry maker earned $412.5 million, or 72 cents per share, up from a profit of $187.4 million, or 33 cents per share, in the same period a year earlier. Revenue more than doubled to $1.88 billion from $930 million. This beat expectations of 70 cents per share and sales of $1.86 billion. And that's not all. A key figure, subscriber base, was boosted as RIM shipped about 4.4 million of its smartphones and added 2.2 million new subscriber accounts during the quarter, bringing its total subscriber base to more than 14 million. Sure enough, the company also projected profit and sales for this quarter above analysts' estimates. One cause for concern is RIM's contracting gross margin as the company relies more on hardware sales.
According to the company, it was retail presence as well as an expanded product line that included enhanced smartphones with cameras and music-playing capabilities, like the Curve, that helped boost sales. While such features put it in competition with Apple Inc. (NASDAQ: AAPL)'s iPhone, Apple was already adding improved features to the iPhone to attract business customers, so it seems competition was inevitable. RIM plans to have even more products with more features to appeal to consumers. Despite the competition, according to different research firms, both RIM and Apple are increasing their market share in the smartphone segment for now, mostly at the expense of Palm Inc. (NASDAQ: PALM).
And if you think RIM has reached a saturation point, let me remind you that two-thirds of its customers are in North America. There is still a big world to expand to out there. In fact, global expansion has already contributed to its performance in the fourth quarter.
It's no surprise RIMM shares are up some 4.7% in after-hours trading.
"Apple recently took a big step out of its consumer-oriented world and into the corporate realm, one dominated by Research In Motion.
"Apple is teaming up with Microsoft to make the iPhone more 'businessy' for corporate users. Obviously, when the iPhone was launched, it was a huge success with consumers. Now, Apple is opening up the platform and making it more appealing to businesses.
"With its much-awaited iPhone software developers kit, Apple is banking on third-party software to differentiate the iPhone from the BlackBerry. The biggest challenge for Apple will be overcoming concerns about security, e-mail synching and the iPhone's high price.
"Undoubtedly, this shift into the corporate realm will take time, and it will likely be the small- and medium-sized companies that are the first to adopt the iPhone for business.
Monday marks the 8th anniversary of the NASDAQ reaching its' all time high. I remember the day quite clearly as it was a Friday and I got married on that Sunday. From March 10th 2000 to early Oct. 2002, the NASDAQ dropped about 78%, even with a bit of a comeback over the last five years, the index is still sitting over 55% under the all time high.
In fact since the recent high at the end of October, the index has shed more than 22%. What does all this mean? While we may not see a return to all-time NASDAQ highs for another decade, the index has again gotten very cheap. It could be that the index is setting up for a move to the upside. After all, this past Friday, the NASDAQ easily outperformed the DOW, and I think we are going to start seeing a rotation into technology names.
Tech earnings haven't been to bad. All the pundits will say that with a recession, tech spending will get cut. Go into your nearest Apple (NASDAQ: AAPL) store and there are no signs of a recession. Check out the earnings for Research in Motion (NASDAQ: RIMM), things look okay. Heck, Google (NASDAQ: GOOG) is starting to look interesting as a value stock.
It may not happen tomorrow, but for long-term investors, technology maybe a place to think about investing.
Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 3/9/08.
Intel (NASDAQ: INTC) is introducing a new set of ultra-small chips [subscription required], some of them to power mini-computers that are unusually portable for consumers. According to The Wall Street Journal, "One chip, previously known by the code name Silverthorne, is designed to be the calculating engine for pocket-sized gadgets that Intel calls MIDs, for mobile Internet devices."
Contrary to Intel's hopes, the market may be a tiny opportunity. Smartphones are already taking on most of the functions that could be found on a mini-computer. They have e-mail, navigation, web access and texting capacity. Some allow for the download of documents and other data. For most effects, Research-In-Motion (NASDAQ: RIMM)'s Blackberry and high-end smartphones coming to market from a number of handset companies already serve the huge majority of the needs of people who want a portable computing device.
Intel may be entering a market that is already very crowded and has little interest in adopting its technology.
Douglas A. McIntyre is an editor at 247wallst.com.
Almost everyone would expect that Nokia (NYSE: NOK) would have the top spot among handset companies in the last quarter of 2007. Indeed, the big European company took over 40% of the market, up from about 36% the year before, according to research firm Gartner.
It also isn't surprising that Motorola (NYSE: MOT) did poorly; still, the magnitude of the drop was shocking. From that last quarter of 2006 to the last quarter of 2007, Motorola's global share fell from 21.5% to 11.9%. This allowed Samsung to move into the second spot with an 11.3% share.
The most remarkable numbers in the Gartner survey show the rise of expensive smartphones. Apple (NASDAQ: AAPL)'s iPhone took a 0.6% share of handsets sold, even though the product is not even a year old and is one of the most costly products in the market. RIM's (NASDAQ: RIMM) BlackBerry moved onto the top-10 list with a share of 1.2%.
If the trend away from less expensive phones and toward handset with more features continues, it would not be surprising to see RIM and Apple hitting market shares of closer to 5% at the end of this year. And that would be in a slowing market. According to the FT, "Global handset sales rose 16 percent in 2007, to 1.2bn devices, but Gartner estimates the market will grow by 10 percent in 2008."
Douglas A. McIntyre is an editor at 247wallst.com.
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