Filed under: Before the bell, Earnings reports, Management, Google (GOOG), Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Toyota Motor Corp. (TM), Employees, Sony Corp ADR (SNE), KB HOME (KBH), Intuit Inc (INTU)
Before the bell: Futures drift lower as oil sets another record high
Since Apple Inc (NASDAQ: AAPL) is no longer insisting on revenue sharing from mobile operators selling its iPhone, China Mobile Ltd (NYSE: CHL) said this cleared the biggest hurdle in bringing the iPhone to mainland China. They just have to resolve some practical issues now.
KB Home (NYSE: KBH) shares climbed over 5.8% in after-hours trading Thursday. The builder is to report results this morning, a quarterly loss is expected.
Sony Ericsson, the joint venture between Sony (NYSE: SNE) and Ericsson (NASDAQ: ERIC) warned Friday it might not see any profit growth in the second quarter, due to slowing demand for some of its higher-priced phones and a delay in shipping new models to the market and will also experience a gross margin squeeze. ERIC shares are down about 6% in premarket trading.
Intuit Inc. (NASDAQ: INTU) will cut about 575 jobs, or about 7% of its workforce, as the result of a reorganization to Internet-based service. The company anticipates the cuts to result in a 4 cents a share charge, in the fiscal fourth quarter. Intuit now sees an adjusted fourth-quarter loss of 7 cents to 9 cents a share, a more massive loss than analysts had estimated.
An era is about to end Friday as Bill Gates ends his full-time tenure as Microsoft (NASDAQ: MSFT) — the world’s largest software company — leader. The Microsoft founder and visionary leaves the company after a failed attempt to acquire Yahoo! Inc. (NASDAQ: AAPL) as it tries to gain market shares in world wide web search where Google Inc. (NASDAQ: GOOG) dominates. It will be interesting to see how the company continues on without his daily guidance, and if anything, perhaps something to watch as investor worry what will happen if Steve Jobs retired.
Toyota Motor Corp. (NYSE: TM) “may implement a broad price hike for vehicles and trucks sold in Japan to help offset surging prices for steel and other materials, according to a Japanese media report Friday.”
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