The data-storage company, NetApp Inc. headquartered in Sunnyvale, California reported a loss in the first quarter. In its 'transition year' as its executive call it, the product revenue dipped sharply as it went through a major overhaul in products.
The company logged $27 million costs that were linked to the restructuring which was announced earlier.
Earlier this year, the chief executive of Comcast Corp.'s NBCUniversal, Steve Burke, said that the media company requires to be on the spot light were the eyes will follow it by introducing added "digital" to its basic fabric.
NBCUniversal agreed to invest $US200 million in BuzzFeed and that's the biggest recent cash injection into the digital news quarter.
The Walt Disney Co. posted its third quarter earnings report which met the market expectations but the profits fell slightly short of the analysts' expectations. The company's shares dropped during the extended trading hours following the news. It also lowered its profit forecast for its cable TV arm.
Alpha Natural Resources, Inc Files for Chapter 11 with United States Bankruptcy Court for the Eastern District of Virginia
It is not recent news that the U.S. coal industry is going through a distressing period with oversupply in the global market, low prices and increasing regulations from the governments stressing on lowering pollution.
On Monday, in a statement HSBC Holdings Plc said that it is selling its unprofitable Brazilian unit in a deal worth $5.2 billion to Banco Bradesco SA. The unit has given unsatisfactory performance for years.
Chairman Says the Boeing Company May have to Move Some Operations Overseas if Export Import Charter is not Extended
On Wednesday, W. James McNerney, the Boeing Company Chairman suggested in front of an audience that the aircraft maker may have to move some of its operations to other countries if the Export-Import Bank's charter is not extended, which expired on 30 June.
Reportedly, Procter & Gamble's next CEO is going to be David Taylor. He will be succeeding A. G. Lafley the report mentioned citing sources close to the matter.
The report mentioned that the company is scheduled to hold a meeting on Tuesday and could announce Taylor as the company's new CEO by Thursday.
In the quarter that ended on July 3, Coca Cola Company's earnings increased nineteen percent with 71 cents per share or to $3.1 billion compared to same quarter last year's $2.6 billion. All this happened even with a three percent drop in the company's sales. Sales slid from$12.6 billion to $12.2 billion from last year.
On Tuesday, the US and Israeli authorities in two separate incidents arrested four men for fraud schemes. Sources say that these also link to the data breach that struck JPMorgan Chase last year.
However, the court documents for either of the cases did not link them to the stealing of confidential details of the bank's customers who numbered in millions.
State Owned Tsinghua Unigroup of China Discussing a Plan to Acquire U.S Chipmaker Micron for $23 Billion
Tsinghua Unigroup, the company owned by the state is considering approaching Micron, the US chipmaker for an acquisition deal. In case it plans to go ahead, it will be the biggest bid from a Chinese company for a U.S business.
Chase Carey who has been the main deal maker for Fox network for almost three decades is now stepping down from his position as CEO of the company.
A strategy that fetched Mr. Carey his big name in his long career was big betting on football which reaped great dividends for Fox over the years.
Late on Sunday, Colt, the well known gun manufacturer said that it is filing for bankruptcy protection in order to stay afloat. Drop in sales and increasing competition forced Colt to take the decision.
The $37 billion deal of Avago Technologies Ltd to acquire Broadcom Corp, may lead to a possible challenge for Qualcomm. The largest mobile chip manufacturer may be forced to juggle around with its strategy drastically.
On Wednesday, Rex Tillerson, CEO of Exxon Mobil once again denied the criticism which says that; the company is not putting in enough effort in order to cut carbon emissions. He argued that the present models of climate change were not enough strong to defend a radical shift, which proposes moving away from the use of fossil fuels.
Charter Communications, on Tuesday announced that it is planning to acquire Time Warner Cable in a deal of approximately $56 billion.
When the deal concludes, the new combination of Charter-Time Warner Cable will take the rank of the second biggest provider of cable broadband in the US only with Comcast ahead of it.
On Friday, shares of AOL spiked ten percent or more as the company reported revenue and profits that were better than expected. The main push in the earnings came from its digital advertising platform.