Investors pushed eBay's stock down for a third consecutive day Thursday, after the e-commerce giant reported third-quarter earnings and reduced its fourth-quarter forecast amid a meltdown in the economy.
Shares of eBay fell as low as $13.69 in intraday trading, down 12 percent from Wednesday's close. But by the market's close, eBay's shares were down a mere 2.35 percent to end the day at $14.97, as the broader markets closed out with gains.
Earlier in the day, eBay's shares were whacked as Wall Street weighed in, with a number of analysts reducing … Read more
Growth in information technology spending next year is expected to go from a modest uptick to a virtual blip, according to a report released Monday by Gartner Research. Meanwhile UBS Securities predicts a more dire outcome.
IT spending is expected to grow 2.3 percent next year, a figure that's down from earlier projections of 5.8 percent growth, according to Gartner. The lowered forecast comes as the markets have been whacked particularly hard over the past two weeks and the credit market has tightened.
"Developed economies, especially in the United States and Western Europe, will be the … Read more
At least two analyst groups have cut their forecasts for global cell phone sales for the coming year due to consumer concerns about the economy.
UBS analyst Maynard Um told Reuters he's cutting his forecast for growth in the sector in half, from 6 percent down to 3 percent, with the North American and European markets being particular slow. JPMorgan analyst Ehud Gelblum cut his forecast as well, from 8.1 percent to 6.1 percent. He also cited Europe as being especially sluggish, and said he expects to see "more modest" growth in China, the report … Read more
Another high-level Yahoo employee has left the building: Valeh Vakili, director of U.S. sales operations, will join News Corp.'s MySpace as senior vice president of sales strategy and operations.
At Yahoo, Vakili was in charge of integrating the sales teams from acquired properties like Right Media into Yahoo's own; at MySpace she will be in charge of the social network's account management team. Vakili will remain based in New York. (MySpace's headquarters are in Los Angeles.)
Webware's Rafe Needleman and I are big fans of Woot.com. Since the introduction of the one-deal-a-day sales site, there have been several clones. However, none have caught my interest like Hoopstick. The site, which currently operates on weekends only, sells just one item a day. The big catch here is that the price tag is constantly changing, meaning patience or pure, dumb luck can get you a deal.
Today's item is a USB headset. When I started writing this, the price tag was hovering around fifteen bucks. Since then, it's come down to $12, jumped back … Read more
Apple's shares fell 17.5 percent in early trading Monday, as two noted brokerage firms scaled back their recommendations to a "hold" from a "buy."
Apple fell as low as $105.77 a share in intraday trading, down substantially from its close of $128.24 on Friday. Apple's shares sold off sharply after Morgan Stanley and RBC Capital Markets downgraded the stock.
Morgan Stanley not only revised its recommendation for the stock, but also lowered its fiscal 2009 earnings estimate to $5.47 a share from $5.91 a share.
In listing its reasons … Read more
LOS ANGELES--There are a lot of bad economic winds swirling, but the high-definition television industry doesn't appear to be moved.
Here at DisplaySearch's HDTV Conference, there is far less handwringing than in past years, when manufacturers complained about rapidly falling prices, the sudden appearance of too many brands, and consumer confusion.
Instead, far more confident industry leaders led a discussion Tuesday that revolved around how to make gentle adjustments to keep the HDTV sales machine in top condition. In North America, shipments are still increasing 17 percent year over year, according to DisplaySearch data. And this is despite … Read more
Sales of video game software and hardware in the U.S. rose 9 percent in August to $1.08 billion, the smallest monthly increase in more than two years, according to data released Thursday by market researcher NPD Group.
Hardware sales were up 3 percent to $395 million, led by handheld Nintendo DS, which sold 518,300 units. Nintendo's Wii came in second with 453,000 unit sales, and Microsoft's Xbox 360 claimed the third spot with 195,200 unit sales.
Software sales were up 13 percent to nearly $551 million, led by Electronic Arts' Madden NFL 09 … Read more
A new report by iSuppli once again puts major names squarely atop the North American midsize LCD TV sales heap, after significant year-over-year sales gains at the expense of lesser-known firms like Vizio and now-bankrupt Syntax-Brillian.
Last year Vizio was a surprise LCD sales leader. But during the second quarter of 2008, Samsung led the way among 30-inch to 34-inch LCD TVs with a 17.6-percent share of the North American LCD TV market, which is up significantly from 8.5 percent a year earlier. TVs with screen sizes measuring between 30 inches and 34 inches comprise 34.1 percent of the LCD market in North America.
Meanwhile, Sony came in second with a 12.8 percent share, up from just 4.9 percent a year before. Conversely, Vizio fell from a 17.3-percent share in Q2 2007 to a 6-percent share this year.