Business
Online discount service Groupon continues to grow at a rapid clip, but the company is still losing money, posting a $42.7 million loss for the fourth quarter of 2011. Groupon shares fell over 15% in after-hours trading Wednesday to $20.82, just slightly higher than the level at which the company went public in November.
Eastman Kodak Co. said Thursday that it will stop making digital cameras, pocket video cameras and digital picture frames, marking the end of an era for the company that brought photography to the masses more than a century ago.
Apple’s iPhone is the hottest mobile device around — so hot in fact that the major mobile service providers are willing to sacrifice their own profit margins just to carry it. The big three providers, AT&T, Verizon Wireless, and now Sprint, all pay hefty up-front prices to Apple for the privilege of stocking the iPhone, which they then turn around and sell at deep discounts to customers willing to sign two-year contracts. And the carriers have little choice: the name of the game in the mobile business is subscriber growth and none of the big providers wants to be cut out of the iPhone action.
Yahoo Chairman Roy Bostock and three longtime board members are stepping down, fulfilling the wishes of many frustrated shareholders who believe the directors have been part of the problem that has dragged down the Internet company’s revenue and stock price.
Looking for a promising career in a lousy economy? A new study suggests you’re apt to find it in apps.
Sony Corp. announced Wednesday that Kazuo Hirai, who leads the company’s core consumer products business, will replace Howard Stringer as CEO and president effective April 1, as the electronics and entertainment company desperately tries to engineer a turnaround.
In its quest to spread its stores around the world, Apple is reaching over the Atlantic to snatch the CEO of a British electronics chain to head its retail operations. Apple Inc. said Tuesday that Dixons Retail PLC’s John Browett will become its top retail executive on April 20.
The Wall Street Journal says Facebook could file regulatory papers for its initial public offering of stock as early as next week.
After uncharacteristically tepid sales in the July-to-September quarter, Apple came back with a vengeance in the last three months of 2011, vastly exceeding analyst estimates and setting new records.
Get ready to pinch yourself: The number of adults in the U.S. who own a tablet computer — of any persuasion, mind you — just about doubled from last year’s final holiday selloff period through the first few weeks of the New Year. That’s according to surveys conducted by the Pew Research Center over the past few months.
Internet search titan Google startled Wall Street with weaker-than-expected fourth-quarter earnings results, sending the company’s shares down as much as 9% after the numbers were released.
