All Posts Tagged Tag: ‘Financial’
The Seattle Post-Intelligencer has informed some of its staff that they have been selected to work for an online only version of the newspaper, if publisher Hearst moves forward with plans to shutdown the print edition.
Two reporters said they received "provisional offers" from P-I New Media boss Michelle Nicolosi or Hearst executive Ken Riddick, according to the P-I Web site.
Investors hoping for a little extra money – and small startups hoping for a lot – are going to need to find someone or something other than Google to provide it. The search giant’s CEO said yesterday that he intends to let his company’s checkbook collect a little dust.
While some parents are sure to keep taking their children to golf courses every day, trying to train the next Tiger Woods, maybe other moms and dads should just plop their kids in front of a computer. A new SEC filing showed that Google execs are compensated in what some would consider to be a generous fashion.
For the first time in three years, overall customer satisfaction with e-commerce has fallen, ending steady growth over the same period, according ForeSee Results’ annual American Customer Satisfaction Index. At the bottom of the customer satisfaction barrel: eTrade, eBay, and Priceline.
So much for the "buy and hold" approach to investing, at least where Google and one analyst is concerned. It might be time to sell and get some cash, instead, as ThinkEquity’s William Morrison has downgraded the search giant’s stock from "accumulate" to "source of funds."
Could the enormous amount of content on the web be hurting online advertising revenue? That is exactly what is happening according to the Wall Street Journal.
The largest contributor to this is probably user-generated content. With everyone and their mother pushing out content (like the incredible number of videos of some guy playing guitar in his room on YouTube) with incredible frequency, the market is becoming saturated.
It’s tough to keep things quiet these days, especially with all that Twittering. Unnamed engineers drowning their overhead redundancy woes over the weekend passed on the news—with documentation—to a B
erkeley grad student Bay Area executive that Google was trying to keep engineer layoffs out of the press.
Roughly three years ago, Google bought a five percent stake in AOL for $1 billion. AOL then went down the tubes, and more recently, the economy has done the same. So everyone’s favorite search giant has now put Time Warner into a position where it may have to offer something of a refund.
The Kindle, Amazon’s e-book reader, has been sold out for months. Over 7,600 (mostly positive) reviews have been written on its official product page. And even though Amazon’s chosen not to share official figures, a Citigroup analyst has now estimated that around 500,000 Kindles were sold last year.
CBS says it will be launching a new finance site this spring called MoneyWatch.com
A preview of the site is available at www.MoneyWatch.com. CBS says the personal finance property will be expanded and featured throughout CBS broadcast, radio and mobile platforms. The site will carry business and financial news from CBS Evening News, 60 Minutes and The Early Show.
MoneyWatch.com sections will include:
The Big Picture, which will focus on how economic changes effects people.
Even if news programs offer almost nothing other than economic information these days, it seems that a lot of people are still seeking out more of the stuff on their own. Fresh search data from the UK reveals that people are studying some rather depressing terms.
Does Carol Bartz have the magic touch? It’s either that or she inherited something less than a complete mess from Jerry Yang, anyway, because as Yahoo’s new CEO presided over her first earnings report, many of the numbers weren’t at all bad.
The Internet continues to be the most important source of information for investors and financial advisors, according to a new online survey by Forbes.com.
The survey found that 65 percent of individual investors consider the Internet their most important source of investing information. This is an increase from 52 percent in 2005.
People have, at least to some degree, become accustomed to the recession. Yesterday’s 330-point drop in the Dow didn’t seem so bad, for example, following the recent string of 500-point losses. And yet, even under conditions such as these, eBay’s fourth quarter financial report didn’t look too good.
Google was one of few successful companies on the stock market today; it provided a little bit of green within big lists of numbers that were otherwise mostly red. This trend continued as the search giant released its fourth quarter financial results.
Google is set to release its Q4 2008 earnings report tomorrow, and the company will likely set the tone for the entire search marketing industry and the online economy going into 2009. According to a recent market report, Google’s got a tough sell on Thursday.
Let’s acknowledge right now that there is a certain chestnut concerning hindsight and 20/20 vision. That said, an analysis of traffic data is starting to make it look like Circuit City’s bankruptcy was, if not inevitable, at least not a completely random event.
People often ask themselves how much money they’d require in order to perform an unpleasant task. Think about an actor considering a really stupid role, for example, or that entire show "Fear Factor." And, well, it seems that $19 million was enough to get Carol Bartz to take charge of Yahoo.
If it seems like some companies are trimming fat just in anticipation of hard times, you may be right. In fact, that seems like the conventional wisdom. Among the most tightened budgets is marketing, but when consumer dollars are fewer and farther between, it’s probably not a good idea to let them forget about you altogether.
Fair warning: this is an unsubstantiated, nonspecific, and not entirely easy to swallow rumor. Today isn’t April 1st, however, and the rumor seems to have gotten the attention of a leading tech reporter and at least a few stock traders. So (for the umpteenth time) consider the possibility that Yahoo is on the path to getting acquired.
With the inauguration of President-Elect Obama just days away, small business owners affected by recession see restoration of the country’s economy as his top priority, but many lack faith in him to improve matters, according to a poll of 50,000 small business clients by email and direct mail marketing company VerticalResponse.
Liberty Media – and/or its chairman, John Malone – may not have a lot of faith left in Ask.com and other IAC properties. It seems that Liberty Media has selling the company’s stock left and right, unloading 193,100 shares in the last week alone.
Yahoo Finance has launched a new Currencies Center focused on providing traders with a robust free investing resource.
Yahoo says the launch is in response to a growing demand for a popular topic on Yahoo Finance, as traffic to the site’s currency resources has doubled over the past year.
"Our increasingly globalized economy has led to an internationally-minded audience with more sophisticated investment needs," said Mark Interrante, general manager and vice president of Yahoo! Finance.
Online holiday spending has now reached the same levels as last year thanks to Cyber Monday and the corresponding Tuesday, according to comScore.
For the holiday season through December 5, $14.92 billion has been spent online, about the same amount compared to the same period last year.
If you’re friends with any Facebook employees, don’t be surprised if your holiday gifts from them wind up being homemade ashtrays instead of multiple DVD sets. The sale of shares that would have allowed some employees to make $900,000 has been postponed.
Former controversial New York Governor Eliot Spitzer, who was forced to resign amid a call girl scandal, will now have a new job writing a column for Slate.com about finances and the economy.
The column is called "The Best Policy," and will run every other week. In his debut column for Slate titled "Too Big Not To Fail" Spitzer takes the U.S. government to task for trying to bailout financial institutions.
The rule of thumb is correlation does not equal causation. If ice cream sales increase simultaneously with the crime rate, obviously one is not causing the other. As the newly admitted recession continues, fingers are wagging toward one cause or another, democrats blaming republicans and vice versa.
Alright, my first prediction for 2009: Yahoo gets carved up like a Christmas goose. No more corporate pussyfooting, no more billionaire shouting matches, just the stealthy, calculated approach toward the crippled wheezing of the would-be carrion. Soon it will all be over in a rush of feathers and blood.
Online advertising growth is set to slow into single digits for the first time in 2009 according to eMarketer’s revised projections.
eMarketer is basing its projections on the latest Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC) data. It says online ad spending will reach 25.7 billion in 2009, which is 8.9 percent over the $23.6 billion that will be spent in 2008.
Previously eMarketer predicted in August that online ad spending would grow 14.5 percent in 2009.
Deals involving Google and Microsoft may get the government feeling nervous, but so far, Facebook’s growth isn’t causing much anxiety. The SEC has given the social networking company special permission to keep hiring and handing employees equity without publicly sharing its financial data.
Goodmail is a company that offers a service called CertifiedEmail whose goal is to eliminate security risks in email, and it is one that many organizations turn to when they have important emails to send. Goodmail’s customers include a number of big name retailers from Walmart to Old Navy, not to mention ISPs like AOL, AT&T and Comcast, and government agencies like the FBI and the FDA.
Even the harshest critics of Steve Ballmer will have to admit one thing: in regards to not buying Yahoo, he’s been consistent for a long time now. At a shareholder meeting today, Ballmer said that he still has no interest in a total acquisition, and Yahoo’s stock has taken a nosedive of around 20.9 percent as a result.
Online retail spending in October grew by only 1 percent compared to October 2007, representing the lowest monthly growth rate since 2001, according to a report from comScore who began tracking ecommerce seven years ago.
The report said that the softness in online retail spending was due in part by negative spending growth in households earning less than $50,000 a year.
Mark Cuban, owner of the Dallas Mavericks, Landmark Theaters, and HDNet, has been accused of insider trading. The SEC claims that, following a private conversation with the Mamma.com’s CEO, Cuban sold his entire stake in the company and thereby avoided at least $750,000 in losses.
It feels like 2000 all over again with daily reports of layoffs and firings from Internet and tech companies. Fourtunately, these belt tightening measures this time seem to be aimed at preventing financial disaster rather than a precurser to massive business closures.
Here are today’s reports from around the web:
– Tucows cuts employees by roughly 15%. (MORE)
So far, there haven’t been many signs that Google is having much trouble adapting to the economy. While companies all across the web are cutting jobs left and right, Google is brushing off deals with other major search engines that the other parties would kill to get done. CEO Eric Schmidt said in a NY Times interview the other day that Google was doing thing like:
Economists and Wall Street types sent two clear messages this week in one simple statement: President-elect Obama needs to get his financial team working on the present crisis ASAP. The underlying message there is, obviously: Bush’s team is asses over elbows on this, and we can’t wait until January 20.
Google CEO Eric Schmidt is a busy man as you can imagine, and has probably been even busier than usual recently, now that he has been named to the transitional economic advisory board of President-Elect Barack Obama at a time when the economy needs all the help it can get.
Jupitermedia Corporation has released its earnings report for the third quarter of 2008.
Revenues for the third quarter of 2008 were $31 million down from revenues of $34.8 million for the same period last year. The company says its loss per diluted share was $0.63 and included non-cash stock based compensation expense, legal fees related to the recent signed stock purchase agreement with Getty Images.
There’s no escaping it: News Corp had a rough quarter. Rupert Murdoch thinks times will be tough for a while, too. But even as the media giant posted some bad numbers, it turned out that at least a couple of its online properties are working well, with MySpace and WSJ.com making impressive amounts of money.
Ask may have lost the interest of a lot of people in the search industry, but its parent company, IAC, is still catching investors’ eyes. IAC’s third quarter results – the first it’s published since spinning off some businesses – represent a curious mixture of ups and downs.
Yes, Microsoft’s search share is shrinking. Sure, everyone hates Vista. And of course, the corporation definitely wanted to acquire Yahoo. None of that seemed to impact the bottom line too much, though, as Microsoft reported some pretty strong first quarter financial results.
A report surfaced yesterday saying the Googel-Yahoo ad deal was effectively toast. That was according to an unnamed lawyer present at a meeting between the Dept. of Justice and attorneys for the companies. But the companies’ official public response is that the (waiting) game is still on.
Amazon has purchased Reflexive Entertainment, a computer game developer based in Lake Forest, California, founded 11 years ago. Apart from actually developing games for PCs, Macs, and even the XBox 360, they own the popular site Reflexive Arcade, which offers downloads of PC games and Mac games, as well as online web games.
Good news, everyone: according to technology leaders surveyed by law firm DLA Piper, the economic world isn’t ending. Tech execs instead feel that the worst will be over within 24 months, and in the meantime, things won’t be as bad as they were eight years ago.
Online real estate Web site, Zillow.com has announced it is cutting 25 percent of its staff, which amounts to 40 employees in order to "securely batten down the hatches as we sail into a major economic storm," the company’s chief executive officer, Rich Barton wrote on the Zillow Blog.
Yahoo is expected to announce some job cuts tomorrow as they announce their third quarter earnings. The number of cuts has been rumored to be anywhere between 1,000 and 3,500. The company is no stranger to letting go chunks of employees, and with current economic conditions, it is no surprise that they are at it again. Rafat Ali at PaidContent.org writes:
Circuit City stock was perhaps rather attractive to some at around a dollar per share; in a weird twist it’s somehow less attractive at 39 cents—maybe it’s the stink of death all around it, maybe that’s what Blockbuster smelled when they pulled out of an acquisition deal.
Jupitermedia has great assets, a long history and is still run by the founder, Alan Meckler, who built the company from the ground up. As of this writing JUPM is at 45 cents a share, which values the company at only $16.25 million. It appears that there is no rational reason to explain this low valuation except that there are apparently very few investors interested in the stock.
If this isn’t a shining example that online video is taking over, I don’t know what is. Playboy is going so far as to completely shut down their DVD business to move all of their video content to the Internet.
"Unlike other companies that began in print, we have profitable television, online and mobile businesses, which have domestic and international growth potential," said CEO Christine Hefner.
If a recent leak of information is true, Yahoo CEO Jerry Yang and board chairman Roy Bostock are looking worse and worse. Remember all that grandstanding last spring about employee severances and retention packages when Microsoft’s offer to buy was still on the table?
Remember the nasty letters between Carl Icahn and Bostock about that and how Bostock seemed to be looking out for employees and Icahn said it was just a poison pill to add a couple of billion to the price tag and dissuade Microsoft?
Let out that held breath, everybody – Google had a good third quarter. While the company didn’t destroy estimates as it’s done in the past, such behavior could hardly be expected at this point, and Google at least managed to improve its performance in most respects.
All of this led to some rather happy and enthusiastic behavior on the part of investors. Google’s stock has gone up 7.86 percent so far in after hours trading.
Here are notes from the live conference call:
Google has released its third quarter results, and things are looking all right so far. The company managed to bring in $5.54 billion in revenue, and this was up from both last quarter and the third quarter of last year. Net income increased in a similar manner, reaching $1.35 billion.
Eric Schmidt wasn’t as positive as he’s been at other times, giving Google some wiggle room in terms of short-term performance, but seems to feel that things are solid and the company is heading in the right direction.
Microsoft CEO Steve Ballmer has been talking about Yahoo again. According to MarketWatch, Ballmer said the deal would still "make sense economically."
Yesterday was kind to investors, and given the remarkable nature of the stock market’s rise, looked like the possible end of a bad era. Unfortunately, things headed south again today, and the big three names in search fared even worse than overall market.
Possibly rhetoric serving two purposes: an endorsement of smart fiscal management and management of Wall St. analyst expectations. Google’s VP of Sales, Tim Armstrong made a seemingly off-the-cuff remark about closely watching the economy while “making sure our expenses and revenue are very much aligned.”
Two occupations that for sure won’t be experiencing unemployment troubles during the financial crisis: politician and lawyer. Politicians will be busy pointing fingers and looking clueless while lawyers will be bracing for a boon in litigation stemming from the collapse of the subprime mortgage market. A survey of 360 in-house counsel in the UK and US show small businesses and major corporations alike are preparing for a busy lawsuit season expected to affect pretty much every sector.
Yahoo shares dropped to their lowest level in five years on Thursday, plummeting 8 percent to $12.65 amid continuing economic chaos.
It was Yahoo’s lowest level since the summer of 2003, when the company was recovering from the bursting of the Internet bubble.
There are lots of rules for being a decent person. None of them apply to banking, as we’ve seen again and again lately. But you’d think a certain level of smarts would accompany the lack of decency required to run a banking institution, and that level of smarts would include an understanding that when your house is on fire, you don’t piss on the firemen.
It’s officially time for tech companies to take cover. Sequoia Capital (a venture capital firm known for backing Apple, Google, and YouTube) and Ron Conway (an angel investor behind Google and PayPal) have advised entities in their portfolios to cut costs and hunker down.
As all WebProNews readers are probably aware by now, Bankaholic, a blog run by 22-year-old Johns Wu was sold to BankRate.com for $15 million, a price some people find shockingly high, but enough to change a man’s life dramatically. We’ve covered this inspirational story extensively since we first learned of it.
Seems like it all just depends on how one spins it sometimes. The IAB and PricewaterhouseCoopers tout a bull market for online advertising in the first half of 2008. The Associated Press, though, describes a second quarter decline as the beginning of the end.
Of course economic pessimism is sort of en vogue these days.
IAB’s version goes this way:
Netflix shares fell 13% yesterday, but at the time of this writing are up over 5% today. The drop is a result of a trimmed fourth-quarter outlook.
In uncertain—well, frightening—economic times it stands to reason that businesses would be looking to trim their budgets where they can. Some think that means advertising will naturally suffer. On the contrary, when is there a better time to seek new customers?
What once was considered an Internet powerhouse, seems to be dwindling away. AOL is getting rid of (or has already) more than 50 of its projects according to Silicon Alley Insider. We knew about AOL Journals and AOL Hometown, but this list is huge.
The dead projects fall into a number of categories including video, audio, messaging, social, toolbars, desktop, safety, mobile, and email. Check SIA’s article for the complete list.
Those old Yahoo-AOL rumors are persistent, if anything. Surfacing again are details related to a deal that could thwart a Microsoft takeover forever. But at the same time, it would seem damaging to an already heavily-scrutinized search ad deal with Google.