morgan

Microsoft's DelBene: Want Office on an iPad? Use SkyDrive

If Microsoft is cooking up an Office app for iPhones and iPads, Office division President Kurt DelBene isn't saying.

DelBene gave little insight into the possibility, bandied about for the last few years, at Morgan Stanley's Technology, Media & Telecom Conference this morning. During a question-and-answer session, DelBene noted the premium tablet experience for Office is on Microsoft's Surface RT and Surface Pro devices, which run Windows 8. As for iOS devices, DelBene said that users can view Office files, such as Excel spreadsheets, on Microsoft's SkyDrive storage service.

"We think we have a pretty … Read more

Zynga will bring online gambling to the masses, Pincus says

Zynga CEO Mark Pincus said the company is not trying to cash in on the existing hardcore gambling market with its foray into online gambling in the U.K. Instead, Zynga will focus on what it knows best -- making gambling games social.

This means displaying bragging rights for when you score big as well as letting your friends see when you don't.

"It makes it more exciting than when you're by yourself in an anonymous poker room," Pincus said during a Morgan Stanley conference in San Francisco today. He wouldn't say when the company … Read more

Reed Hastings says rise of rivals helps Netflix

Netflix CEO Reed Hastings insisted today that the rise of rivals Amazon Prime Instant Video and Hulu Plus has actually helped the relationships his video streaming service has with studios.

The competition has led to bidding in the marketplace for programming, allaying studios' fears of Netflix dominance in video streaming.

"One fear they had is that we would run away with the prize.... They don't feel as strategically vulnerable," Hastings said at Morgan Stanley's Technology, Media & Telecom Conference this morning. "It's an overall healthier situation than it was two years ago."

Netflix, … Read more

iPhone Mini launch this summer makes sense, analyst says

A low-priced iPhone makes a lot of sense, Morgan Stanley says, and it even could hit the market this summer.

Katy Huberty, an analyst with the banking firm, noted that after her meetings with Apple Chief Financial Officer Peter Oppenheimer, she's convinced that innovation remains a top priority for the Cupertino, Calif., electronics giant. She also believes that Apple will increase cash return to shareholders and expand carriers, distribution, and possibly price points to drive iPhone growth.

She noted that a lower priced iPhone makes sense for several reasons:

"iPad Mini is expanding Apple's customer base with … Read more

Morgan gets slap on wrist over botched Facebook IPO

The Commonwealth of Massachusetts has fined Morgan Stanley $5 million over the botched Facebook initial public offering, according to terms of a consent order. In case you're wondering, that's about half the bonus of a starting secretary at the investment house. OK, we're exaggerating for effect, but this is the textbook definition of a slap on the wrist for Morgan, which last year posted $32.4 billion in revenue.

Morgan, the lead underwriter in Facebook's IPO this past spring, has faced criticism from Facebook shareholders who claimed that certain material information was concealed prior to the … Read more

Morgan Stanley tries to stop Facebook investor arbitration

Morgan Stanley, the lead banker on Facebook's messy IPO, is attempting to stop a Facebook investor from seeking securities arbitration related to the stock offering, according to a report from Reuters.

Because the investor isn't a Morgan Stanley customer, the firm has argued in a complaint filed in Manhattan federal court that the arbitration shouldn't proceed. It argues the investor, Uma Swaminathan of East Brunswick, N.J., ordered shares through Vanguard Financial, according to the report.

Swaminathan, meanwhile, has said the botched IPO has cost the investor $1.9 million in damages.

Swaminathan filed a claim with … Read more

PC market much worse than expected, says analyst

The PC industry fared worse than anticipated last quarter and will continue to face rough waters ahead, according to J.P. Morgan analyst Mark Moskowitz.

In an investor's note out today, Moskowitz noted that Gartner saw a drop in PC shipments last quarter of 8.3 percent from a year ago and an increase of only 2.5 percent from the second quarter. Those results trailed Gartner's estimates of a decline of just 2.1 percent from a year ago and growth of 9.4 percent from the previous quarter.

"While investors had been preparing for a … Read more

McNamee says behavior on Facebook IPO is 'criminal'

As usual, tech investor Roger McNamee didn't hold back today, telling Bloomberg TV that the Nasdaq and Morgan Stanley are to blame for Facebook's IPO bungle as their actions on the stock "bordered on criminal."

McNamee, whose firm Elevation Partners (the private equity firm he co-founded with Bono) invested in Facebook, said the public offering put a spotlight on the "extreme corruption" in Wall Street and the IPO bungle was done on purpose to benefit Morgan Stanley.

"NASDAQ's behavior on this in my mind borders on criminal.I think Morgan Stanley's … Read more

Morgan Stanley to make price adjustments on Facebook trades

The Facebook IPO can now safely be said to rank among the sloppiest tech offerings in recent memory. In the latest installment of this "clusterzuck," Reuters has obtained an internal memo reporting that Morgan Stanley is ready to make price adjustments for retail customers if they paid too much during Facebook's debut as a public company last Friday.

The investment bank confirmed to Reuters the contents of the memo that, among other things, says that "all orders are currently being reviewed for best execution pricing." It also says that Morgan Stanley expects "there will … Read more