Tag Archives: Apple Inc

Will Apple's Latest Results Be Its Latest Letdown?

By The Associated Press

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By MICHAEL LIEDTKE

SAN FRANCISCO (AP) – Apple’s (AAPL) latest quarterly results are likely to illustrate why investors are clamoring for the maker of the iPhone and the iPad to come out with another trend-setting device.

The report, due out after the stock market closes Tuesday, is expected to show that Apple Inc. is making less money as more customers buy its lower-priced iPhones and iPads instead of the top-of-the-line models. Other consumers increasingly are bypassing Apple products altogether as smartphones and tablet computers running Google’s Android software win more fans.

Those dynamics have changed the way that Wall Street – and even parts of Main Street – view Apple. Once regarded as an indomitable innovator, Apple now looks vulnerable and perhaps a step behind Google Inc. and the leading Android disciple, Samsung Electronics Co.

If analysts’ projections pan out, Apple’s earnings fell during the three months that ended in June, marking the second consecutive quarter of decline. The slump follows a decade-long streak of earnings growth that ended at the start of the year. Analysts surveyed by FactSet are expecting, on average, earnings of $7.34 per share, down from $9.32 per share a year ago.

Meanwhile, analysts are forecasting little or no revenue growth for the first time since the debut of the iPhone six years ago. Analysts are expecting $35 billion in revenue for the period, its fiscal third quarter. It was $35 billion at the same time last year.

Those would be impressive numbers for most companies, but the bar has been set high for Apple since the introduction of its iPhone triggered an upheaval that has changed the way people engage with technology. Smartphones and tablets are emerging as the preferred way to connect to the Internet and perform many other common computing tasks. In the process, those mobile devices are supplanting laptop and desktop computers.

Ignited by its early lead in smartphones and tablets, Apple’s financial performance launched into a scintillating trajectory that catapulted its stock into Wall Street’s stratosphere, too. The company’s shares rose nearly six-fold from the debut of the first iPhone in 2007 to the release of the latest model last September to establish Apple as the world’s most valuable company.

Since peaking 10 months ago at $705.07, Apple’s stock has plummeted by about 40 percent to about $425 to wipe out roughly $260 billion in shareholder wealth. It is now behind Exxon Mobil Corp. in market capitalization – at $400 billion, compared with $422 billion for the energy company. Not even a recent 15 percent increase in Apple’s quarterly dividend has done much for the stock.

Despite the downturn in the company’s fortunes, Apple’s products still have legions of admirers. Sales of iPhones for the just-ended quarter are expected to total about 26 million, around the same number as the same time last year. But a …read more

Source: FULL ARTICLE at DailyFinance

Media Digest (4/29/2013) Reuters, WSJ, NYT, FT, Bloomberg

By 24/7 Wall St.

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The form of taxation that is applied to a Verizon Communications Inc. (NYSE: VZ) buyout of the 45% of Verizon Wireless that Vodafone Group PLC (NASDAQ: VOD) owns may decide the deal. (Reuters)

The global economy continues to rely on central bank aide to prop up gross domestic product. (Reuters)

China’s move to 4G will give some equipment suppliers huge contracts. (Reuters)

Tough European sales may start to badly damage U.S. corporate earnings. (WSJ)

The government blocks cash payouts to some General Motors Co. (NYSE: GM) executives. (WSJ)

The number of people in the U.S. looking for jobs fell to its lowest level since 1979 because of retiring baby boomers. (WSJ)

Fred Hassan leaves as the chairman of Avon Product Inc.’s (NYSE: AVP) board. (WSJ)

A move to dividend-paying stocks may be causing their prices to move too high. (WSJ)

More Republican members of Congress will support a tax on online sales. (NYT)

Cable firm AXS TV will start to run programming from AOL Inc.’s (NYSE: AOL) HuffPo Live. (NYT)

Passengers may well shy away from flying the Boeing Co. (NYSE: BA) 787, which recently fixed battery problems. (NYT)

Chat applications will continue to hurt revenue from texts, which have helped telecom earnings. (FT)

More Europeans may modify their positions on the value of austerity. (Bloomberg)

Nokia Corp. (NYSE: NOK) ups its commitment to $20 phones as it loses market share to smartphones from Apple Inc. (NASDAQ: AAPL) and Samsung. (Bloomberg)

Filed under: 24/7 Wall St. Wire, Press Digest Tagged: AAPL, AOL, AVP, BA, GM, NOK, VOD, VZ

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Source: FULL ARTICLE at DailyFinance

Can Returning CEO Ullman Revive Penney's Fortunes?

By The Associated Press

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NEW YORK — The return of the old guard at J.C. Penney have sent shares higher this week, even with major U.S. indexes suffering one of the worst downturns this year.

J.C. Penney brought back former CEO Mike Ullman to lead the company last week and he has already rehired one of his former executives forced out under Ron Johnson.

Johnson, the former Apple Inc. (AAPL) executive, was ousted himself last week after a disastrous 17 months at the helm.

The familiar faces have received a positive response on Wall Street, which has driven the stock up nearly 4 percent this week even as the S&P 500 slumped 3 percent.

At least one analyst that follows the company sees a precedent for Ullman’s second act.

Citigroup’s Deborah Weinswig said that bringing back old-hands worked successfully for BJ’s Wholesale Club in 2007, when Herb Zarkin as put back in the CEO‘s chair.

Zarkin rehired three key members of his former team to run merchandising, marketing and store operations. Over the next 12 months, revenue at comparable stores rose 3.7 percent, compared with the modest 1.2 percent increase in the prior-year period.

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One of Ullman’s first actions was to rehire Ken Mangone as executive vice president of product development, design and sourcing. He had left in December 2012. Nick Wooster, fashion blogger and a former executive at luxury stores such as Neiman Marcus who had taken on his role, is now out. Penney also announced this week that two other Johnson hires — Michael Kramer, chief operating officer, and Ken Walker, chief talent officer — are now gone.

Penney’s shares are still down 65 percent since early last year but investors appear to embrace an old familiarity.

Weinswig points out that Ullman had a deep bench that he could exploit.

“As of now, it’s a two-man band, but there are other former JCP executives available who could come to work for their former band leader,” Weinswig said.

Weinswig believes the merchandising, planning and allocation and store organization remains in good shape.

Liz Sweney, Penney’s chief merchandising officer and the head merchants in women’s, accessories, men’s and home were all with Penney during Ullman’s previous tenure. But she says the areas of marketing, finance, human resources and operations are lacking talent.

“We further suspect that there could be additional vacancies at lower levels of the organization, which JCP will need to fill,” Weinswig wrote. She says of utmost importance is finding a president or chief operating officer to serve as Ullman’s right hand man.

J.C. Penney Co. (JCP), based in Plano, Texas, is in a cash crunch and is exploring ways to bolster its cash reserves.

Johnson had planned to reinvent the company by getting rid of coupons, bringing in new brands and

From: http://www.dailyfinance.com/2013/04/20/mike-ullman-revive-penneys/

Nokia Earnings Disappoint, Windows Phones Fall Short

By 24/7 Wall St.

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Nokia Corp. (NYSE: NOK) had another rough quarter. The numbers show the company still cannot make progress against powerful competition from Apple Inc. (NASDAQ: AAPL) and Samsung.

The new Windows phones from Nokia and Microsoft Corp. (NASDAQ: MSFT) have not sold well, which is a blow to the fortunes of both companies. Microsoft’s success in the PC sector has begun to disappear, leaving mobile as one of the few industries in which it can grow.

According to the Nokia earnings announcement:

Nokia Group non-IFRS EPS in Q1 2013 was EUR -0.02; reported EPS was EUR -0.07.
Nokia Group achieved underlying operating profitability for the third consecutive quarter, with a Q1 non-IFRS operating margin of 3.1%.
– Devices & Services achieved underlying profitability for the second consecutive quarter, with a Q1 non-IFRS operating margin of 0.1%. Devices & Services benefitted from a strong focus on cost as well as the reversal of approximately EUR 50 million of previously recognized inventory related allowances in Q1.
Nokia Siemens Networks achieved underlying profitability for the fourth consecutive quarter, with a Q1 non-IFRS operating margin of 7.0%. Nokia Siemens Networks benefitted from strong gross margin performance in Q1.

Nokia Group net sales in Q1 2013 were EUR 5.9 billion
– Devices & Services Q1 net sales decreased 25% quarter-on-quarter to EUR 2.9 billion.
Lumia Q1 volumes increased 27% quarter-on-quarter to 5.6 million units, reflecting increasing momentum.
Mobile Phones Q1 volumes decreased 30% quarter-on-quarter to 55.8 million units, reflecting competitive industry dynamics and an estimated higher than normal seasonal decline in the market addressable by Mobile Phones.
Nokia Siemens Networks net sales decreased 30% quarter-on-quarter to EUR 2.8 billion, reflecting industry seasonality

Those numbers were below expectations.

Filed under: 24/7 Wall St. Wire, PC Companies, Technology Companies, Wireless Tagged: AAPL, MSFT, NOK

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From: http://www.dailyfinance.com/2013/04/18/nokia-earnings-disappoint-windows-phones-fall-short/

What Is Important in the Financial World (4/18/2013)

By 24/7 Wall St.

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German Economic Recovery

One German research firm expects the nation’s economy to rebound this year and next. However, the rebound will be very modest. It will not be anywhere near those expected in the United States or China. The European Union’s troubles will be too much of a drag. Ifo says of the German economy:

An upwards tendency re-emerged in the German economy in spring 2013. The situation in the financial markets has eased thanks to subsiding uncertainty regarding the future of the European Monetary Union. The headwind in the world economy has also tailed off somewhat. The institutes expect gross domestic product in Germany to increase by 0.8% this year (68%-projection interval: 0.1% to 1.5%) and by 1.9% next year. The number of unemployed should continue to fall to an annual average of 2.9 million this year and 2.7 million in 2014.

Student Loan Burden

Students with large loan burdens, because of the debt taken on for their educations, likely are not buyers of expensive items such as homes and cars. Perhaps all of their debt makes them less attractive candidates for loans. Or, they may believe their obligation will leave them bankrupt. The results of a study by the New York Fed show what almost everyone with a high school education knows about student loan debt:

Student loans have soared in popularity over the past decade, with the aggregate student loan balance, as measured in the FRBNY Consumer Credit Panel, reaching $966 billion at the end of 2012. Student debt now exceeds aggregate auto loan, credit card, and home-equity debt balances—making student loans the second largest debt of U.S. households, following mortgages. Student loans provide critical access to schooling, given the challenge presented by increasing costs of higher education and rising returns to a degree. Nevertheless, some have questioned how taking on extensive debt early in life has affected young workers’ post-schooling economic activity.

The population of these people is large enough that their troubles could be an economic headwind in the next several years, particularly because so many of them also have been unable to find jobs.

Disappointing Nokia Earnings

Nokia Corp. (NYSE: NOK) had another rough quarter. The numbers show the company still cannot make progress against powerful competition from Apple Inc. (NASDAQ: AAPL) and Samsung. The new Window’s phones from Nokia and Microsoft Corp. (NASDAQ: MSFT) have not sold well, which is a blow to the fortunes of both companies. Microsoft’s success in the PC sector has begun to disappear, leaving mobile as one of the few industries in which it can grow. According to the Nokia earnings announcement:

Nokia Group non-IFRS EPS in Q1 2013 was EUR -0.02; reported EPS was EUR -0.07.
Nokia Group achieved underlying operating profitability for the third consecutive quarter, with a Q1 non-IFRS operating margin of 3.1%.
– Devices & Services achieved underlying profitability for the second consecutive quarter, with a Q1 non-IFRS operating margin of 0.1%. Devices & Services benefitted from a strong focus on cost as well as the reversal of

From: http://www.dailyfinance.com/2013/04/18/what-is-important-in-the-financial-world-4182013/

Amazon Apps Expand to 200 Countries

By 24/7 Wall St.

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Amazon.com Inc. (NASDAQ: AMZN), often seen as the most progressive tech company in America, will expand its Appstore so “that developers can now submit their apps for distribution in nearly 200 countries.” Amazon may not have a ready customer base in most of those countries, but the announcement makes its reach seem impressive, even if it is ineffective.

In Amazon’s race to dominate, or at least have a prime position, in the mobile app development business, it finds itself behind Apple Inc. (NASDAQ: AAPL) and Google Inc. (NASDAQ: GOOG). Apple’s massive distribution channel through its iPad and iPhone products, and the many years it has had its own store, give it a built-in advantage. Google has leverage of its own because of the nearly universal adoption of it Android mobile operating system. Its large share of the mobile OS industry cannot be underestimated as an app distribution network, via Google’s own store. Developers with direct relationship with Google can create products for both Amazon’s Kindle and all other Android products

Amazon Appstore for Android was created to help Amazon steal some of Google’s native app developer network. Why developers would not favor Google’s own developer system and store is a mystery. That means most of Amazon’s success with app distribution will be based on its own Kindle Fire tablet, to a substantial extent:

Developers throughout the world are experiencing strong monetization and user engagement through Kindle Fire and the Amazon Appstore.

As far as anyone can tell, the Amazon Appstore is the e-commerce company’s attempt to help sales of its Kindle products, and nothing more. The risk in that is that the Kindle may be overwhelmed by all the other Android-based tablets that have flooded the market. But in the hope of bolstering its position, the company said:

Amazon.com, Inc. continued the global expansion of its Appstore today by announcing that developers can now submit their apps for distribution in nearly 200 countries, including Australia, Brazil, Canada, Mexico, India, South Africa, South Korea, and even Papua New Guinea and Vatican City.

Vatican City may not be a big enough market to help Amazon reach its Appstore goals.

Filed under: 24/7 Wall St. Wire, Consumer Electronics, Software Tagged: AAPL, AMZN, featured, GOOG

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From: http://www.dailyfinance.com/2013/04/18/amazon-apps-expand-to-200-countries/

Media Digest (4/18/2103) Reuters, WSJ, NYT, FT, Bloomberg

By 24/7 Wall St.

Filed under:

The FAA moves closer to a decision to clear the Boeing Co. (NYSE: BA) 787 Dreamliner for commercial service. (Reuters)

Worries about Apple Inc.’s (NASDAQ: AAPL) profits press its stock value under $400. (Reuters)

LinkedIn Corp. (NYSE: LNKD) will test mobile ads in it smartphone app. (Reuters)

Twitter begins to examine tweets to better target ads. (Reuters)

China will allow the yuan to trade in a wider range. (WSJ)

Bundesbank President Jens Weidmann tells the Wall Street Journal that Europe‘s financial repair could take a decade. (WSJ)

The International Energy Agency says the progress of green energy has slowed. (WSJ)

Carnival Corp. (NYSE: CCL) will spend as much as $700 million to upgrade hospital and safety systems on its ships. (WSJ)

The growth of the PayPal operation of eBay Inc. (NASDAQ: EBAY) slows, according to its earnings report. (WSJ)

Microsoft Corp. (NASDAQ: MSFT) earnings likely will show the company’s products have not triggered global PC growth. (WSJ)

Large bank profits may push regulators to put more regulations on the banking system. (NYT)

The United States has become Japan‘s top export market, taking the position from China. (FT)

The International Monetary Fund says monetary easing could cause credit bubbles. (FT)

Gold miners lose $169 billion as the price of the metal falls. (Bloomberg)

Filed under: 24/7 Wall St. Wire, Press Digest Tagged: AAPL, BA, CCL, EBAY, LNKD, MSFT

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From: http://www.dailyfinance.com/2013/04/18/media-digest-4182103-reuters-wsj-nyt-ft-bloomberg/

Microsoft Strikes Patent Deal with Apple iPhone Supplier

By 24/7 Wall St.

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Microsoft Corp. (NASDAQ: MSFT) continues to claim that Google Inc. (NASDAQ: GOOG) Android uses some of its patents. The world’s largest software company has used this leverage to get companies that use Android to sign licenses with it to protect them from legal action.

Microsoft got a big win in this ongoing effort, cutting a deal with the owner of Foxconn, one of the primary manufacturers for several smartphone firms, including Apple Inc. (NASDAQ: AAPL).

Microsoft said of the patent deal:

Microsoft Corp. and Hon Hai, the parent company of Foxconn, signed a worldwide patent licensing agreement that provides broad coverage under Microsoft’s patent portfolio for devices running the Android and Chrome OS, including smartphones, tablets and televisions. While the contents of the agreement are confidential, the parties indicate that Microsoft will receive royalties from Hon Hai under the agreement. Hon Hai joins a growing list of contract manufacturing and original design manufacturing companies with Android and Chrome patent licenses.

Filed under: 24/7 Wall St. Wire, Software, Technology Companies Tagged: AAPL, GOOG, MSFT

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From: http://www.dailyfinance.com/2013/04/17/microsoft-strikes-patent-deal-with-apple-iphone-supplier/

What Is Important in the Financial World (4/17/2013)

By 24/7 Wall St.

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Shrinking Green Energy Sector

The race to replace fossil fuels with “green” energy slowed last year. As the industry struggled, China took the lead among nations with green energy investments. It is not much of a prize, as the many countries have decided the environment is not as important as the economy. A study by Pew that covered the green energy sector in 2012 showed:

Although 2012 investment levels worldwide declined 11 percent, to $269 billion, the clean energy sector weathered the withdrawal of priority incentives and initiatives offered by governments in numerous key markets, demonstrating its resilience. Reliable clean energy investment data have been collected for nine years now. Looking at the data in three-year increments, average clean energy investment increased by at least $90 billion triennially — from an average of $64 billion in the 2004-06 period to an average of $156 billion in 2007-09 and $245 billion in 2010-12.

In other words, things got better in the industry, even though they got worse. Among the major categories of clean energy — wind, small hydro, biomas, solar, geothermal and marine — China‘s investment was well ahead of the next two nations — the United States and Germany. China‘s investment was $65.1 billion, the U.S.’s was $35.6 billion and Germany‘s $22.8 billion. With the rise of shale oil and gas, “green” may continue to shrink for years to come.

Microsoft Strikes Patent Deal

Microsoft Corp. (NASDAQ: MSFT) continues to claim that Google Inc. (NASDAQ: GOOG) Android uses some of its patents. The world’s largest software company has used this leverage to get companies that use Android to sign licenses with it to protect them from legal action. Microsoft got a big win in this ongoing effort, cutting a deal with the owner of Foxconn, one of the primary manufacturers for several smartphone firms, including Apple Inc. (NASDAQ: AAPL). Microsoft said of the patent deal:

Microsoft Corp. and Hon Hai, the parent company of Foxconn, signed a worldwide patent licensing agreement that provides broad coverage under Microsoft’s patent portfolio for devices running the Android and Chrome OS, including smartphones, tablets and televisions. While the contents of the agreement are confidential, the parties indicate that Microsoft will receive royalties from Hon Hai under the agreement. Hon Hai joins a growing list of contract manufacturing and original design manufacturing companies with Android and Chrome patent licenses.

Toyota Global Hybrid Sales

Toyota Motor Corp. (NYSE: TM) posted worldwide sales data for the period that ended on March 31, including sales of hybrids, which many analysts believe is the future of the industry. The Japanese car company said of its global hybrid sales:

[C]umulative global sales of its hybrid vehicles topped the 5 million unit mark as of March 31, 2013, reaching 5.125 million units.

Positioning response to environmental issues as a management priority and based on its belief that environment-friendly vehicles can only truly have a positive impact if they are used widely, TMC has endeavored to promote the mass-market adoption of hybrid vehicles.

Last year, hybrid vehicles accounted for 14

From: http://www.dailyfinance.com/2013/04/17/what-is-important-in-the-financial-world-4172013/

Foxconn's Hiring: There Must Be A New Apple iPhone On The Way

By Tim Worstall, Contributor That’s the way the Wall Street Journal reads it anyway. Foxconn has started hiring again at its plants that make iPhones, therefore a new iPhone must be on the way: TAIPEI—Foxconn Technology Group has resumed hiring assembly-line workers in China after a postholiday freeze, in the latest sign that customer Apple Inc. AAPL is gearing up for production of a new iPhone. It seems a reasonable enough basis for the speculation.

From: http://www.forbes.com/sites/timworstall/2013/04/16/foxconns-hiring-there-must-be-a-new-apple-iphone-on-the-way/

Media Digest (4/15/2013) Reuters, WSJ, NYT, FT, Bloomberg

By 24/7 Wall St.

Filed under:

Wells Fargo & Co. (NYSE: WFC) cuts the number of outside investment managers that its brokers can offer to clients. (Reuters)

Thermo Fisher Scientific Inc. (NYSE: TMO) is likely to pay $13 billion to buy Life Technologies Corp. (NASDAQ: LIFE). (Reuters)

Foxconn adds workers in preparation for production of the new Apple Inc. (NASDAQ: AAPL) iPhone. (WSJ)

The FAA orders inspections of about 1,000 Boeing Co. (NYSE: BA) 737s. (WSJ)

Microsoft Corp. (NASDAQ: MSFT) probably produces a new touch smartphone type watch. (WSJ)

Verizon Wireless pushes out the number of months subscribers need to wait for phone upgrades from 20 months to 24. (WSJ)

McDonald’s Corp. (NYSE: MCD) presses value of its products to customers to help same-store sales. (WSJ)

Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM) will produce new transmissions together. (WSJ)

Google Inc. (NASDAQ: GOOG) agrees to search restrictions to settle antitrust claims by the European Commission. (NYT)

The ability of big companies to save money on manufacturing overseas helps offset a weak U.S. economy. (NYT)

A study by Brookings and the Financial Times shows the global economy is not improving. (FT)

India’s inflation drops to a 40-month low at 5.96% in March. (Bloomberg)

Filed under: 24/7 Wall St. Wire, Press Digest Tagged: AAPL, BA, F, GM, GOOG, LIFE, MCD, MSFT, TMO, WFC

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From: http://www.dailyfinance.com/2013/04/15/media-digest-4152013-reuters-wsj-nyt-ft-bloomberg/

LinkedIn to Buy E-Reader Company Pulse for $90M

By The Associated Press

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Justin Sullivan/Getty Images

MOUNTAIN VIEW, Calif. — Professional networking website LinkedIn is paying about $90 million to acquire Pulse, which makes an e-reader platform used on mobile devices.

More than 30 million people worldwide use Pulse’s e-reader applications on devices running both Apple Inc. (AAPL) and Google Inc.’s (GOOG) Android-based operating systems. Pulse, based in San Francisco, was founded in 2010 by Akshay Kothari and Ankit Gupta while they were students at Stanford University.

The deal, which is expected to close in the second quarter, is a combination of 90 percent stock and 10 percent cash.

Following the close, Pulse employees will join LinkedIn Corp. (LNKD) at its headquarters in Mountain View, Calif.

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From: http://www.dailyfinance.com/2013/04/12/linkedin-buys-pulse/

Ken Fisher Buys Apple Inc, American Express Co, Coinstar, Sells America Movil, Petrobras, Visa

By GuruFocus, Contributor We have just updated the portfolio of Ken Fisher. He buys Apple Inc, Basf SE, American Express Co, McDonald’s Corporation, Rio Tinto PLC, BP etc. As of 03/31/2013, Fisher Asset Management, LLC owns 483 stocks with a total value of $37.6 billion. These are the details of the buys and sells that have the impact to portfolio of more than .1%. New Purchases: CSTR, VSH, VALE.P, Added Positions: AAPL, BASFY, AXP, MCD, RIO, BP, CSCO, JPM, MTU, RHHBY, Reduced Positions: AMX, PBR, V, BIDU, EC, VALE, BRGYY, EAT, Sold Out: KMTUY, MW, For the details of Ken Fisher’s stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Ken+Fisher

From: http://www.forbes.com/sites/gurufocus/2013/04/11/ken-fisher-buys-apple-inc-american-express-co-coinstar-sells-america-movil-petrobras-visa/

Xylem Inc. to release first-quarter 2013 results on April 30, 2013

By Business Wirevia The Motley Fool

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Xylem Inc. to release first-quarter 2013 results on April 30, 2013

WHITE PLAINS, N.Y.–(BUSINESS WIRE)– Xylem Inc. (NYS: XYL) , a leading global water technology company focused on addressing the world’s most challenging water issues, will release its first-quarter 2013 financial results at 7:00 a.m. EDT, Tuesday, April 30. At 9:00 a.m. EDT, Xylem’s senior management team will review financial and operating results, comment on current conditions and answer questions during an investor briefing.

Scan this QR code to download Xylem’s Investor Relations App for Apple iPad(R). Apple, iPad and iPhone are registered trademarks of Apple Inc. QR Code for Xylem’s Investor Relations App

The briefing can be monitored live by calling +1 (973) 935-2945 (ID # 29405041) or by visiting www.investors.xyleminc.com.

A replay of the briefing will be available on www.investors.xyleminc.com, and via telephone until Tuesday, May 14, 2013 at 6:00 p.m. EDT. The telephone replay will be available at +1 (404) 537-3406 (ID # 29405041).

Xylem is also pleased to announce the launch of the Xylem Investor Relations app for the Apple iPhone®, which complements our existing app available for the iPad®. These free apps, which can be downloaded from the Apple online store, feature interactive Xylem share price data, downloadable documents including presentations, earnings information, SEC filings and an investor events calendar, as well as videos and company news releases.

About Xylem

Xylem (XYL) is a leading global water technology provider, enabling customers to transport, treat, test and efficiently use water in public utility, residential and commercial building services, industrial and agricultural settings. The company does business in more than 150 countries through a number of market-leading product brands, and its people bring broad applications expertise with a strong focus on finding local solutions to the world’s most challenging water and wastewater problems. Xylem is headquartered in White Plains, N.Y., with 2012 revenues of $3.8 billion and approximately 12,700 employees worldwide.

The name Xylem is derived from classical Greek and is the tissue that transports water in plants, highlighting the engineering efficiency of our water-centric business by linking it with the best water transportation of all – that which occurs in nature. For more information please visit us at www.xyleminc.com.

J.C.Penney: Was Ron Johnson's Strategy Wrong?

By Steve Denning J.C. Penney Co. has ousted its CEO, Ron Johnson, the chief executive who reinvented retail at Apple Inc. and who arrived JCPenney just 17 months ago. Mr. Johnson had a bold vision for the JCPenney. On joining the firm, he said, ?In the U.S., the department store has a chance to regain its status as the leader in style, the leader in excitement. It will be a period of true innovation for this company.? …read more

Source: FULL ARTICLE at Forbes Technology

Google Targeted in European Antitrust Complaint Led by Microsoft

By The Associated Press

Filed under: , , , ,

Philippe Wojazer/AP Google CEO Eric Schmidt, left, and French President Francois Hollande sign an agreement at the Elysee Palace in Paris on Feb. 1. On Tuesday, more than a dozen technology companies filed a complaint against Google, alleging unfair trade practices in Europe.

By JUERGEN BAETZ

BRUSSELS — Google is using unfair practices to cement its control over mobile Internet usage on smartphones, a group of companies led by Microsoft alleged in a European antitrust complaint Tuesday.

The “FairSearch” initiative of 17 companies — which includes Microsoft Corp. (MSFT), Nokia Corp. (NOK) and Oracle Corp. (ORCL) — claims Google is acting unfairly by giving away its Android operating system to mobile device companies on the condition that the U.S. online giant’s own software applications like YouTube and Google Maps are installed and prominently displayed.

“Google is using its Android mobile operating system as a Trojan horse to deceive partners, monopolize the mobile marketplace, and control consumer data,” said Thomas Vinje, the group’s Brussels-based lawyer.

Android operating systems have the largest share of the smartphone market worldwide, followed by Apple Inc.’s (AAPL) iOS platform with systems from Blackberry (BBRY), Microsoft and others far behind.

“Google’s predatory distribution of Android at below-cost makes it difficult for other providers of operating systems to recoup investments in competing with Google’s dominant mobile platform,” FairSearch said in a statement.

The European Commission, the 27-nation bloc’s executive arm and antitrust authority, is not obliged to take any action other than reply to the group’s complaint.

Google Inc. (GOOG) didn’t address the complaint’s charges in detail. “We continue to work cooperatively with the European Commission,” said Google spokesman Al Verney.

The U.S. company is already under investigation by Brussels for practices related to its dominance of online search and advertising markets.

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That complaint, filed in 2010, alleges Google unfairly favors its own services in its Internet search results, which enjoy a near-monopoly in Europe. Google has proposed a list of remedies to address the Commission’s concerns to achieve a settlement. The Commission is currently examining the proposed changes.

In China, Google has already come under official scrutiny because of Android’s dominance of the mobile smartphone market there.

Several European data privacy regulators have also launched an investigation into Google’s practices, alleging the company is creating a data goldmine at the expense of unwitting users.

Last year, the company merged 60 separate privacy policies from around the world into one universal procedure. The European authorities complain that the new policy doesn’t allow users to figure out which information is kept, how it is combined by Google services or how long the company retains it.

The policy allows Google to combine data collected from one person as they use …read more

Source: FULL ARTICLE at DailyFinance

J.C. Penney Taps Former CEO Mike Ullman to Revive Its Fortunes

By The Associated Press

jcpenney ceo mike ulllman ron johnson ousted

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Mark Lennihan/AP Mike Ullman was named CEO of J.C. Penney after Ron Johnson was ousted Monday, after a massive restructuring at the retailer backfired.

By ANNE D’INNOCENZIO

NEW YORK — J.C. Penney is hoping its former CEO can revive the retailer after a risky turnaround strategy backfired and led to massive losses and steep sales declines.

The company’s board of directors ousted CEO Ron Johnson after only 17 months on the job. The department store chain said late Monday, in a statement, that it has rehired Johnson’s predecessor, Mike Ullman, 66, who was CEO of J.C. Penney Co. (JCP) for seven years until November 2011.

The announcement comes as a growing chorus of critics including a former Penney CEO, Allen Questrom, called for Johnson’s resignation as they lost faith in an aggressive overhaul that included getting rid of most discounts in favor of everyday low prices and bringing in new brands.

The biggest blow came Friday from his strongest supporter, activist investor and board member, Bill Ackman, who had pushed the board in the summer of 2011 to hire Johnson to shake up the dowdy image of the retailer. Ackman, whose company Pershing Square Capital Management, is Penney’s biggest shareholder, reportedly told investors that Penney’s execution “has been something very close to a disaster.”

On Saturday, Ullman received a phone call from Penney’s chairman Thomas Engibous asking him to take back his old job, according to Penney spokeswoman Kate Coultas. The board met Monday and decided to fire Johnson.

Neither Johnson nor Ullman were available for an interview.

Until early last week, some analysts thought the board would give Johnson, a former Apple Inc. (AAPL) and Target Corp. (TGT) executive, until later this year to reverse the sales slide. A key element of Johnson’s strategy was opening new shops featuring hot brands to help turn around the business. They began opening last year and had been faring better than the rest of the store.

“I truly believed that he had until holiday 2013,” said Brian Sozzi, CEO and chief equities strategist Belus Capital Advisers. “Today’s announcement is an indictment of his strategy.”

Under Ullman, the chain brought in some new brands such as beauty company Sephora and exclusive names like MNG by Mango, a European clothing brand, but he didn’t do much to transform the store’s stodgy image or to attract new customers. He’s expected to serve mostly as a stabilizing force, not someone who will make changes that will completely turn the company around.

“What they need is a little bit of stability and essentially adult supervision,” said Craig Johnson, president of Customer Growth Partners, a retail consultancy. “[Ullma]) did nip-and-tuck surgery. But this was a place that needed radical surgery,” Johnson said.

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Sozzi said he …read more

Source: FULL ARTICLE at DailyFinance