Citigroup Inc. (NYSE:C) Chairman Believed To Have Plotted Pandit’s Exit


Last day of Vikram Pandit at Citigroup Inc.(NYSE:C) swung from celebratory to devastating in span of minutes. Having received congratulatory e-mails about the earnings report in the morning that indicated the bank was on a more solid ground, Mr. Pandit walked into the chairman’s office on 15th October for what he considered just another meeting on his calendar.

Sadly, it was not so. Mr. Pandit was told that three news releases were ready. One said that Mr. Pandit had resigned from his post, effective immediately. Another stated that he would submit his resignation, which would be effective at the end of this year. The third release said that he has been fired without a cause. Mr. Pandit had to make a choice.

The abrupt encounter, as described by the three people briefed on the conversation, had included a terse comment by Michael E. O’Neil that said that the board has lost confidence on Pandit.

A shocked Mr. Pandit chose to resign instantly. Although Mr. Pandit and the board have publicly exemplified his exit as his decision, interviews with people, who are close to the board, describe how the chairman tricked behind the scenes for months to compel Mr. Pandit to leave and replace him with Michael L. Corbat, the chosen successor.

After becoming the chairman, Mr. O’Neil scrupulously built a case for the chief executive’s dismissal, they say, first meeting secretly with less-content board members and then involving others until Pandit had virtually no friends left.

Since Mr. Pandit was reeling from his encounter, 3 board members confronted John Havens, a longtime lieutenant and Chief Operating Officer of the bank.

It is not clear as to when exactly the board had decided on a successor. Discussions among board members had accelerated while Mr. Pandit was in Japan at the yearly meeting of the IMF and the World Bank.
You have read this article Citigroup Inc. / Citigroup Inc. (NYSE:C) / NYSE:C with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/citigroup-inc-nysec-chairman-believed.html. Thanks!

Google Inc (NASDAQ:GOOG): Nexus 7 Sales Nearing 1 Million a Month


Asustek revealed that the sales of Google Inc (NASDAQ:GOOG)’s Nexus 7 are nearing to 1 million units a month.

The 7-inch tablet has been creating a lot of headlines this year with its low starting cost of US$199, but both Asustek and Google has been acting pretty cautious about revealing actual sales figures.

Asustek executives have given the clearest indication after the third quarter earnings of the company.

Chief Financial Officer of Asustek, David Chang told the Wall Street Journal that at the starting it was 500K units each month, escalating to about 600-700K. The figure touched 1 million in the recent month.

It was earlier this month when tech blogs were passing third quarter sales estimate of 800,000-1 million Nexus 7s based on an examination of revenue figures of Google. Asustek’s comments indicate that the actual figure was higher.

That number is still meager in front of Apple’s third quarter sales of 14 million iPads. A total of 25 million tablets were sold internationally during the third quarter, as per Strategy Analytics, a research company.

Building off the promising sales of Nexus 7, Google is expanding its efforts to combat Apple’s dominance of the mobile market. Google recently unveiled two new products – the Nexus 4 smartphone and Nexus 10 tablet. The 10-inch tablet is priced at $399 for 16 GB and the smartphone has been priced at $299 without a wireless contract.

There were a number of 7-inch tablets launched this fall, as it becomes evident that there is a strong customer interest for devices of this size. Petite tabs that have lately jumped into the fray include Apple’s 7.9-inch iPad mini for $329 and 7-inch Kindle Fire HD of Amazon for $199.

Caroline Hsu, a spokeswoman at Google said that the company has not yet released sales figures for the Nexus 7. 
You have read this article GOOG / Google Inc / Google Inc (NASDAQ:GOOG) / NASDAQ:GOOG with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/google-inc-nasdaqgoog-nexus-7-sales.html. Thanks!

Apple Inc. (NASDAQ:AAPL): Slight Drop in User Loyalty in US and Europe for iPhone


According to computations from Strategy Analytics, Apple Inc.(NASDAQ:AAPL) might have to worry about a tiny yet disturbing trend, because the loyalty rate of its iOS platform seems to have dropped in Europe and the US. A survey was conducted about how many users are willing to buy their next phone from Apple and the data was compared to 2007, when iPhone made its debut. Surprisingly, the number of users has dwindled slightly, even as most users still remain loyal.

The Wireless Device Lab Report from the firm has confirmed that around 88% of the iPhone user base in the US will stick to purchasing phones from Apple. In 2011, the numbers showed a whopping 93% willing to purchase their next phone from Apple, which makes it clear that this is a letdown. In Europe, 75% is still loyal to Apple; declining from the 88% data obtained a year before.
Director of Strategy Analytics has stated that the new figures, irrespective of the dip in loyalty, are promising and ensure that Apple will continue to enjoy success in retaining existing customers and also attracting newer ones. He said that the drop in figures is due to the negative press and theories about a lack of innovation by Apple in making some customers more open to considering another manufacturer.
Recorded data has clearly shown that owners of devices powered by iOS are more loyal when compared to any other brand as 21% of them will not make the transition to another device regardless of the price. Overall, owners of mobile products from Apple are 52% more loyal than Android users are to the manufacturers of their handsets.

You have read this article AAPL / Apple Inc.(NASDAQ:AAPL) / NASDAQ:AAPL with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/apple-inc-nasdaqaapl-slight-drop-in.html. Thanks!

Facebook Inc (NASDAQ:FB): How Many Insiders will Cash In after Lock-Up Expiration?


Investors of Facebook Inc(NASDAQ:FB) have watched their money sinking deeper and in the last 6 months, which has given rise to the question as to the number of insiders selling off shares after the lockup expires. There was an expiration on Monday without any buying or selling due to the markets being closed due to Hurricane Sandy. The stocks comprises of shares given to employees before 2011 and some belonging to earlier insiders. The number of shares in the open market will go up by 73% to 1.2 billion+ shares by the year end.

Only major shareholders have to file forms in the SEC so there is no technique to know if an employee has cashed his/her shares, but CEO Mark Zuckerburg has clearly mentioned in the previous month that he would not cash in any stock for the next 12 months. The lock-up expiration is a boon for top executives of the company as they get the opportunity to transform paper money to hard cash. Six executives including COO Sheryl Sandberg and CFO David Ebersman can now sell stocks in the open market, because most of their stock has been converted to ordinary Class A shares. The stock of Sandberg and Ebersman are valued at $396 million and $48.4 million after taxes respectively.

The upcoming lock-up expiration is about 2 weeks away on 14th November which allows all Facebook employees, who are with the company before 2011, to sell their vested pre-IPO shares, along with other early holders. 14th December is yet another date for lock-up expiration when more than 155.9 million shares will be available in the market. In 2013, the expiration date is on 18th May, which releases shares currently under Mail.ru Group Limited and DST Global Limited.

The stocks of Facebook had been going down since its initial offering, but it has moved up to $23, with the revenue being slightly stabilized and positive future prospects as stated by Zuckerburg.
Shares of FB ended lower by 3.80% to $21.11.
You have read this article Facebook (FB) / Facebook Inc (NASDAQ:FB) / FB / NASDAQ:FB with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/facebook-inc-nasdaqfb-how-many-insiders.html. Thanks!

Apple Inc. (NASDAQ:AAPL) Shares Ended Lower Below $600 On Management Announcement


Apple Inc. (NASDAQ:AAPL) shares ended at $595.32, down 1.44% in Wednesday’s session, amid investors getting wary about the changes in management. On Monday, the company announced that mobile software developer Scott Forstall and retail chief John Browett will not be with Apple from 2013.

Share price of the company was in the correction territory the week before and has gone down more than 15% when compared to their epic rise on September 21 after the iPhone 5 was revealed. There have been significant changes to the core team – Jony Ive, who used to manage the hardware design team has been promoted and will now oversee all of design including software that was previously Forstall’s territory. Tim Cook sent an email to Apple staff stating that they are looking towards better collaboration when it comes to hardware, software and services teams at all levels.

There have been theories floating about regarding Forstall’s departure but the majority is agreeing that it is due to the flawed mapping tool that Apple released with its new iOS update. The tool is full of errors and customers have constantly complained that the app gives incorrect directions and is missing loads of data. Apparently, Forstall did not sign an apology stating that he is responsible for the mapping tool, which led to his resignation.

There are speculations about John Browett too. He replaced Ron Johnson in the company, before which he was in charge of a retail operation called Dixons in UKand the performance was extremely poor. Browett comprised on customer satisfaction by cutting down staff at retail outlets to increase profit margins. Tim Cook will man the position for now.

Brian Sozzi, chief equities analyst at NBG Productions states that their cost per unit has not increased which is a promising trend and will take the company to greater peaks of success in 2013.
You have read this article AAPL / Apple Inc. (NASDAQ:AAPL) / NASDAQ:AAPL with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/apple-inc-nasdaqaapl-shares-ended-lower.html. Thanks!

After Hours Movers: Cirrus Logic, Inc. (NASDAQ:CRUS), Vringo, Inc. (AMEX:VRNG)

Cirrus Logic, Inc.(NASDAQ:CRUS) shares are being halted in after hours as the company reported its second quarter earnings. The company posted a sharp jump in its bottom line driven by strong sales from its audio segment. Moreover, the company has projected better than estimated earnings for the third quarter.

The company now expects to generate revenue of $270 million and $300 million, crushing analysts’ target of $238 million.

In the latest quarter, the company earned $35.4 million, or 51 cents a share on revenue of $193.8 million, compared to a year ago profit of $11.2 million, or 17 cents a share. On an adjusted basis, the company earned 79 cents a share,, ahead of analysts’ target by 8 cents.

Gross margin lowered to 51.7% from 53.5%.

Drama is all over playing in Vringo, Inc.(NYSEAMEX:VRNG) as the stock has recovered almost all of its losses made earlier in the session.  

At around 3 PM, the stock was down as much as 57% to low of $1.75  as reports circulate the company has run into a setback in its lawsuit against Google (GOOG) regarding the latter’s alleged infringement of fundamental patents on Internet search.

May be the sell off was partly driven by a typo on PilotOnline.com, which posted  that Vringo was claiming damages of only $500,000, a figure that was changed to $500 million.

The stock closed lower by 36% to $2.56 in the regular session. However, the stock is up 34.50% in after hours session to $3.44.

Update: Here is the after hours quote:


You have read this article AMEX:VRNG / Cirrus Logic / CRUS / Inc. (NASDAQ:CRUS) / NASDAQ:CRUS / Vringo Inc. (AMEX:VRNG) / VRNG with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/after-hours-movers-cirrus-logic-inc.html. Thanks!

Netflix, Inc. (NASDAQ:NFLX): Ichan Takes 10% Stake, Stock In Action, Who Might Bid?


Netflix, Inc.(NASDAQ:NFLX) stocks have spiked this afternoon after Carl Icahn an investor has disclosed that he has taken a 9.98% bet in the company’s common stock in an SEC filing. He thinks that the company is ripe to be acquired.

In his 13D filing, Ichan has reported that he purchased the shares based on the logic that the stock is undervalued given the governing market position of the company and international growth prospects.

He added that the company could offer crucial strategic value for a variety of exceptionally larger companies in more direct competition with one another due to the evolution of the traditional, mobile and Internet industry.

The filing also reveals that Ichan is taking into account ways for Netflix to capitalize on shareholder value but have reached no ending. He added that he may seek discussions with Netflix in the future.

It was last week when shares of Netflix had spiked on rumors that Microsoft might be thinking over a bid. The report came a few weeks after CEO Reed Hastings had taken the decision of not seeking re-election to the Microsoft board. The DealReporter wrote that Microsoft is not planning on buying Netflix.

So the question is – who might want to place a bid for Netflix?

Over the years, there have been repeated speculations regarding Amazon making an offer for the company, but the hesitant block analysts always have increased is that the many locations that distribute DVDs for Netflix would compel Amazon to assess sales taxes on customer in states where they previously had no physical existence.

Google is equally expanding its content offerings in Google Play. Also, Comcast may want to jump into video streaming game arena giving the company a way to reach customers not in their cable footprint. Apple too could want to look at its piggy bank and purchase Netflix with pocket change.

Shares of NFLX jumped 13.75% to end the day at $79.15 after hitting session high of $84.95.
You have read this article NASDAQ:NFLX / Netflix Inc. (NASDAQ:NFLX) / NFLX with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/netflix-inc-nasdaqnflx-ichan-takes-10.html. Thanks!

Vringo, Inc. (AMEX:VRNG) Plunges 35% As Google Inc (NASDAQ:GOOG) Wins A Key Decision In Norfolk Patent Case


Shares of Vringo, Inc. (AMEX:VRNG) are hammered down by 36% to $2.56 after hitting session low of $1.75 as a federal judge this morning issued a major blow against a small tech company alleging Internet giant Google Inc(NASDAQ:GOOG) and other companies over accused patent violation.

Raymond A. Jackson, a US District Judge ruled that if Vringo and its subsidiary, I/P Engine, influence a jury that Google violated the patents, it cannot gather damages for the 6 years prior to the lawsuit’s filing the previous year.

Vringo is implementing a formula that calls for collecting a percentage of Google’s revenue from 2005 to the present day. At the least, the company is owed $500 million, as Vringo said.

Jackson has found that Vringo and its predecessor waited too long to file a lawsuit since Google made the patent technology public in the year 2005. The patents entails directing adverts to particular Internet used based on the searches they execute.

The technology was developed in the 1990s. The patents for the technology were acquired in 1998 and 2001. An attorney for Vringo has informed the jury that since the year 2004, Google’s profits have increased by 20% since it used a system that places adverts on searches. At the end of 2011, Google posted revenue close to $38 billion and should top that figure by the end of 2012.

A lawyer on behalf of Vringo asked the judge to hold back making a decision on the matter, known as the law of laches, until it can present a refutation witness. The judge nixed the idea since he found it to be procedurally unacceptable. To put it differently, Vringo must have made the move sooner.

Jackson said that the court is not approving Vringo of that chance.

The trial is predicted to wrap up soon.

Google is the chief defendant in the case. Vringo is also suing, for much lesser amounts, IAC, AOL, Target and Ganett that incorporate same Internet advertising technology from Google.

You have read this article AMEX:VRNG / Google Inc / Google Inc (NASDAQ:GOOG) / NASDAQ:GOOG / Vringo Inc. (AMEX:VRNG) / VRNG with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/vringo-inc-amexvrng-plunges-35-as.html. Thanks!

Big Movers: BCRX, WU, JCP, VRSN, GNW


Following are the notable percentage movers at afternoon session on Wednesday’s session:-

BioCryst Pharmaceuticals, Inc.(NASDAQ:BCRX) shares slumped 29% after the company yesterday announced that the drug-maker withdrew its Investigational New Drug application for its antiviral nucleoside treatment for hepatitis C, BCX5191. The FDA has raised concerns related to the drug's preclinical toxicity profile at levels necessary for it to be effective.

The Western Union Company(NYSE:WU) is experiencing a sharp selloff in Wednesday’s session and hit a new low of $12.48, now down 28.44% to $12.83. The stock slumps after the company trimmed its earnings guidance for the full year on increased competition.

The company now projects to earn $1.65 to $1.68 a share, well below its previous guidance of $1.73 to $1.77 a share. The company said it was planning to cut costs and save $30 million annually by 2014.

The company posted net income of $269.5 million, or 45 cents a share on revenue of $1.42 billion. Analysts were estimating the company to earn 45 cents a share on revenue of $1.47 billion.

J.C. Penney Company, Inc.(NYSE:JCP) lost 5.66% as the company posts a 30% clearance offer on its website and texts the same deal to customers in a move that reverts back to its old promotional ways of clearing inventory. Though the pricing strategy doesn't cover regularly priced merchandise, it still feels like a bit of a reversal off of Ron Johnson's one-price model. At the very least, the retailer may be trying to squeeze out a little more juice for FQ3 numbers after seeing same-store sales plummet in FQ1 and FQ2.

Verisign, Inc.(NASDAQ:VRSN) slid 5.10% as worries mount about the Commerce and Justice departments' reviews of Verisign's offer for a 6-year renewal of its deal to run the registry for .com domain names. The company noted in last week's Q3 report that the Commerce department might not complete its review before the Nov. 30 expiration of Verisign's current deal, in which case a 6-month extension kicks in. Verisign's offer gives it the right to raise prices by 7% four times over the course of the deal.

Genworth Financial Inc(NYSE:GNW) shares soared 9% following earnings last night reflecting improvement in the housing market: U.S. mortgage insurance operations posted a $38M loss, a $41M improvement from last year, and against total company earnings of $34M. On the earnings call, management says it expects to IPO its Australian mortgage unit before the end of fiscal 2013.
You have read this article BCRX / GNW / JCP / VRSN / WU with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/big-movers-bcrx-wu-jcp-vrsn-gnw.html. Thanks!

Vringo, Inc. (AMEX:VRNG) Hits Session Low, Below 50-Day and 200-Day MA


Vringo, Inc.(NYSEAMEX:VRNG) shares are showing heavy selling pressure this afternoon after opening with strong gains. The stock opened higher by about 5% and rose as much as 11% followed by a sharp reversal. The stock is now down 22% to $3.11, just near to session’s low of $3.06.

There were minor insider selling on Friday including COO Alex Berger - 4,000 shares at $4.08;CTO Andy Lang - 9,058 at $4.08;CEO Andy Perlman - 1,500 at $4.05; and Director Seth Siegel - 2,000 at $4.05. The sales were made within a pre-established Rule 10b5-1 plan.

The company has been under trial case against Google, for a patent case, which has been driving the company’s shares wild. On expectation of positive outcome, the stock has shown massive rally of about 500% since the beginning of the year and made an all time high of $5.73 earlier this month. However, as the trail progresses, shares of the company started selling off and VRNG is off 43% from all time high.

In the latest development, On Tuesday, Google Inc(NASDAQ:GOOG) filed couple of Motions for Judgment as a Matter of Law, which is intended to request the court to dismiss the patent between both the companies.

This is not the first time, Google has requested for the denial of case, in fact recently, the company’s request was denied when Google stated that there was no potential information that Vringo could present at trial that could justify a verdict for Vringo, and therefore, a trial would be a waste of time, and the Court should enter summary judgment for Google.

Well whatever be the outcome, VRNG is expected to show wild run up or down in coming sessions amid solid fight going in between the blue chip company and small cap company (which was a penny stock in early 2012).

Technically speaking, the stock has fallen below its 50-Day Moving Average and 200-Day Moving Average of $3.82 and $3.62 respectively.
You have read this article AMEX:VRNG / Vringo Inc. (AMEX:VRNG) / VRNG with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/vringo-inc-amexvrng-hits-session-low.html. Thanks!

Apple Inc. (NASDAQ:AAPL): High-Resolution Music will soon be Available in iTunes


High resolution music files are being accepted by Apple Inc.(NASDAQ:AAPL) for iTunes. This might be a move on the company part to sell music in a higher quality format and resolution. Sound engineers have been asked to generate 96 kHz, 24-bit WAV files. Grammy-award-winning sound engineer Tim Faulkner, with more than 3500 recordings in his kitty, has said that he is utterly delighted on having been requested to remaster his London Symphony Orchestra Live recordings for iTunes, which were recorded in 176k4.

Some have raised questions as to why the iPhone is not supporting high-resolution sound files now. The reason is because the higher amount of digital information that has to be converted can use up the battery life of iPhones very fast. Faulkner agrees that while battery life of a device should not be compromised for churning out better quality music, it should not be the only parameter. He has admitted to hearing about lossless and 96k downloads coming up for sale in iTunes.

The battery life issue can be tackled via an iPhone-controlled audio module, but even then iPhone can’t have high-resolution files until the suitable antidote is found. PC users can cheer up because high-resolutions iTunes audio will soon be available on computers.

An audio platform like Orastream, has brought together names like Neil Young, Creedence Clearwater Revival, Jackson Browne, and Crosby, Stills, & Nash who are putting out high-resolution audio. Young has been a major contributor to the success of the standalone device Pono Player as he is an advocate of high-resolution audio.
You have read this article AAPL / Apple Inc.(NASDAQ:AAPL) / NASDAQ:AAPL with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/apple-inc-nasdaqaapl-high-resolution.html. Thanks!

Earnings Update: The Western Union Company (NYSE:WU), Community Health Systems (NYSE:CYH)


The Western Union Company(NYSE:WU) has announced impressive third quarter earnings thanks to strong forex revenue and traction in the online business.

The company has earned a net income of $269.5 million or 45 cents a share.  This is 12.4 percent higher than the net income earned for the quarter ending September 30 last year when the earnings were $239.7 million or 38 cents a share.

The company’s revenues have increased 1 percent to $1.42 billion.

For the full year, the company had previously projected earnings in the range of $1.68 to $1.72.  It has now lowered this outlook because of weakness in the global economy and intense competition in the money transfer business.  The company now sees earnings in the range of $1.60 and $1.72 a share.

For the fourth quarter, Western Union has declared a dividend of 12.5 cents a share payable on December 31.  This is 10 cents higher than the dividend paid for the third quarter.

The company’s board has also authorized new share repurchases of up to $550 million.

Shares of WU slumped 28.51% to $12.82.

Community Health Systems(NYSE:CYH)’s  net income for the third quarter has fallen by 40 percent, mainly because of costs incurred in the prepayment of its debts.

The net income for continuing operations is $44.2 million or 49 cents a share.  It had earned $4.3 million or 83 cents a share in the third quarter last year.  However, if the debt costs are not taken into consideration, the company’s earnings for the latest quarter are 86 cents a share.

Higher patient admissions have resulted in revenue increasing to $3.21 billion, 9 percent higher.  The Tennessee based company now operates 135 hospitals.

Community Health has now paid off most of its long term debt.  More details are expected in the conference call with investors to be held today.

Shares of CYH are up 1.30% to $27.14.
You have read this article Community Health Systems (NYSE:CYH) / CYH / The Western Union Company (NYSE:WU) / WU with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/earnings-update-western-union-company.html. Thanks!

Stocks In News: The Walt Disney Company (NYSE:DIS), Best Buy Co., Inc. (NYSE:BBY)


Starting from the eighties, people have discussed about how many sequels will be made to the Star Wars movies.  It is said that George Lucas wanted to make nine movies, broken into 3 trilogies spanning over a period of 20 to 40 years.

As if to make this supposed dream come true, The Walt Disney Company(NYSE:DIS) has said that it would make three more movies.  It has bought LucasFilm for $4.05 billion and the next film installment is due in 2015, a decade after the 6th Star Wars movie ‘Revenge of the Sith’, which Lucas had declared to be his last.

However, Lucas has clarified, “This was never planned as a nine-episode work." "The media (pounced when) I made an offhand comment, 'It might be fun to come back when everyone's 80 and do another one of these' But I never had any intention of doing that."

He says that he is now entrusting the franchise to a new generation of filmmakers.  He will however contribute as creative consultant.

Best Buy Co., Inc.(NYSE:BBY) has canceled its analyst meet in New York as the city is suffering in the aftermath of the storm Sandy which has wreaked havoc on the East Coast.  In the now canceled meeting, CEO Hubert Joly was supposed to brief investors about his turnaround plans for the company.

When scheduling the meet, the company had cautioned investors about the fall in its third quarter earnings and same store sales.  It had also said that as part of its management restructuring program, its U.S. business president would leave at the end of the fiscal year.

The company is also waiting for Richard Schulze, the founder and largest shareholder, to decide whether he can put together a buyout bid in his attempts to make the company private.
The new date for the meeting has not yet been announced.
You have read this article BBY / Best Buy Co. / DIS / Inc. (NYSE:BBY) / The Walt Disney Company (NYSE:DIS) with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/stocks-in-news-walt-disney-company.html. Thanks!

Tech Updates: Facebook Inc (NASDAQ:FB) Falls 3.50%, Google Inc (NASDAQ:GOOG) Outperforms


Shares of Facebook Inc(NASDAQ:FB) fell 59 cents or 3.66% to $21.14 in the late morning session. On Wednesday the employees of Facebook got a chance to sell 234 million shares that had been locked since Facebook made its initial public offer in May.

The lockup period was suppose to expire on Monday but was hold back by Hurricane Sandy which led to a two day closure of market.

Founder and CEO Mark Zuckerberg, holds 444 million shares and 60 million stock options has announced of not selling his shares in next year indicating a sign of both confidence and keeping the stock stability.

In August, 271 million Facebook shares were eligible to be sold. They were held largely by early investors, including Accel Partners and Goldman Sachs. In August, Peter Thiel, a former PayPal co-founder and an early Facebook investor, sold a majority of his Facebook stock, which helped push the stock to a record low.

The big test is yet to come for Facebook with the expiration of lockup period of 777 million shares which will be available for trading on November 14. Additional lockups expire in mid-December and May 2013.

Sales of Google Inc (NASDAQ:GOOG) Nexus 7, made by Taiwan’s Asustek Computer Inc are closing in on 1 million units a month, the Taiwanese maker revealed.

Asustek Chief Financial Officer David Chang told The Wall Street Journal “At the beginning, it was, for instance, 500K units a month, then maybe 600, 700K. This latest month, it was close to 1 million.”

The figures suggest a moderate success for the Google’s low-priced tablet but it is not even near to Apple’s iPad which sold 14 million units, a 26% increase in comparison to last year.

Petite tabs that have recently jumped into the fray include Apple’s 7.9-inch iPad mini for $329 and Amazon’s 7-inch Kindle Fire HD for $199.

Building to its sale Google has refreshed the Nexus 7 by doubling the capacity of the $199 model to 16 gigabytes. A 32-gigabyte model is also available for $249. Yesterday it unveiled two new siblings of Nexus 7: the Nexus 10 tablet and Nexus 4 smartphone: The 10-inch tablet is priced at $399 for 16 gigabytes of storage, and the phone at $299 without a wireless contract.
You have read this article Facebook Inc (NASDAQ:FB) / FB / GOOG / Google Inc / Google Inc (NASDAQ:GOOG) / NASDAQ:FB / NASDAQ:GOOG with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/tech-updates-facebook-inc-nasdaqfb.html. Thanks!

Microsoft Corporation (NASDAQ:MSFT): Windows 8 Downloads Hit 4 Million


Microsoft Corporation(NASDAQ:MSFT) has reported a strong user uptake for its Windows 8 operating system upgrade.

The company mentioned in its first days on the market that the latest version of Windows has been installed by nearly four million users. Chief Executive Steve Ballmer spoke at the company’s Build developer conference that the company has seen strong interest from early adopters, who have been offered the £25 download cost.

The news comes in spite of early doubt shed on the platform by a consumer survey. The study has indicated that as many as half of all end users are not yet conversant with Microsoft’s latest offering.

The launch of Windows 8 is a part of a three-branched approach by Microsoft to fix and update its mobile and desktop patterns.

While declaring its Windows Phone 8 platform earlier this week, the company has described an associated environment in which users can access and move content across the Xbox, Windows and Windows 8 platforms, and also cloud storage and collaboration environments.

Ballmer said that the company would use the interoperability and connectivity benefits offered by the plan to distinguish its desktop and mobile platforms from that of the rivals.

Ballmer told reported at the launch event of Windows 8 that the new generation PCs are the best PCs ever made.

Rewinding back a bit, two weeks after Windows 7 had made its debut, while a Microsoft executive had said that it was too early to analyze sales, Ballmer had merely described the response as ‘positive’.

As the month comes to an end, Usage from the likes of Net Applications must show an increase in shares of Windows 8, however unless it surges exceptionally, it will remain below the bar set by Windows 8 in late 2009. Before release, Windows 8 implementation, through a series of previews and the availability of an RTM build, was exceptionally smaller as compared to Windows 7 during the same period before its launch. 
You have read this article Microsoft Corporation(NASDAQ:MSFT) / MSFT / NASDAQ:MSFT with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/microsoft-corporation-nasdaqmsft.html. Thanks!

Google Inc (NASDAQ:GOOG) Search App For iOS Intended To Deliver More Siri-Like Experience


Google Inc(NASDAQ:GOOG) is frequently called the search giant, and for good reason. The company is always testing search features so that it can deliver most accurate and relevant outcomes, both through web platform and apps.

By now, we all are acquainted with the way Siri has made life seemingly easier. Google has announced recently that it has launched a new search app for iOS that entails updated and expanded voice features for more Siri-like experience.

The upgraded Google Search app will allow users to engage and share their queries in a natural manner while receiving responses that are pulled from massive resources of Google. For an instance, users can ask what a thing looks like and Google will come up with images that will automatically open, displaying the results for the specified question. Conversely, the app can be asked to play a specific movie trailer and the video will start on its own.

To start a voice search, users simply need to tap on the microphone icon and speak. If the response to a question is short enough, the app will speak the answer back. Google said that the new Google Search app that is designed for iPad and iPhone will help in finding information with improved voice search that answers any question with the comprehensive Google search outcomes that users know and love.

The system is powered by Knowledge Graph, a Google feature, which is designed to help the app in associating a search with its intended meaning. While the app proves to be sleek and more interactive than all its previous offerings, it is not really up to Siri’s level for iOS users. Siri is integrated into iOS, allowing users to manage Apple device with voice commands, such as finding new email composition. Google Search does not offer any such capability.
You have read this article GOOG / Google Inc / Google Inc (NASDAQ:GOOG) / NASDAQ:GOOG with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/google-inc-nasdaqgoog-search-app-for.html. Thanks!

Facebook Inc (NASDAQ:FB) Shares Slump As Another Lockup Expires


After monitoring the investment plunge for six long months, the major question lingering over Facebook Inc(NASDAQ:FB) is how many insiders are likely to dump their shares as the so-called lockup comes to an expiry.

One such expiration has passed this Monday, although without any buying or selling, since the markets were closed because of Hurricane Sandy. The shares that missed the market on Monday are likely to hit today. Nearly 229 million shares were eligible to hit the market on Monday. These shares include the ones that are issued to employees before 2011 and some that are owned by earlier insiders.

There is, however, no way to find out the worker that cash his shares, since only the biggest holders need to file forms with the SEC. however, one person, who surely would not be selling soon is Mark Zuckerberg as he has said that he would not cash in stock for minimum another year.

The lock-up expiration presents a valuable chance for the top executives of the company to convert paper wealth into outstanding riches. It was last Friday when 6 executives including CFO David Ebersman and COO Sheryl Sandberg saw a main portion of their shares being converted into common Class A shares. This allows them to sell their stocks in the open market. Sandberg’s shares are now valued at $396 million apart from taxes, at a price of $22 each share, while Ebersman’s stock is worth $48.4 million apart from taxes.

The next lockup expiry date is 14th November when all employees of Facebook, who joined before 2011, can sell their pre-IPO shares, with other early holders.

Shares of FB slid 3.20% to $21.24, although off session low of $20.73.
You have read this article Facebook (FB) / FB / NASDAQ:FB with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/facebook-inc-nasdaqfb-shares-slump-as.html. Thanks!

Nokia & Vringo Are Showing High Volatility (NOK, VRNG, UBS, ANAD, PVH)


Nokia Corporation (ADR)(NYSE:NOK) stock gained 6.25% to $2.72. The company announced that its Lumia 822, Windows Phone 8-based smartphone now will be available through a Verizon Communications Inc. (NYSE:VZ) deal.

Additionally, the company recently launched convertible bonds to generate EUR 750 million. This step will help the Finnish handset makeer to use the net proceeds of the offering to prudently manage its capital structure. It will ensure Nokia to preserve the existing pools of liquidity and to address the upcoming debt maturities.

Vringo, Inc.(NYSEAMEX:VRNG) shares are showing very volatile move this morning and moved within a wide range of $3.04-4.47. The stock gapped up this morning and rose 11% in early session and quickly turned lowered correcting over 33% from session highs. The stock is now down 6.50%. On Tuesday, October 30, Google filed two Motions for Judgment as a Matter of Law, which essentially seek dismissal of Vringo's claims against them. A motion for judgment as a matter of law is a "during or post trial" equivalent of a motion for summary judgment. Investors are getting optimistic on the company’s lawsuite against the company and expecting the company to win the case.

Additionally, the company, early this month, filed a lawsuit against ZTE Corp.'s U.K. unit for alleged infringement of its patents for handsets, base stations and base station controllers. Representatives of ZTE weren't immediately available for comment.

UBS AG (USA)(NYSE:UBS) shares gained 13.50% to $14.97. The company is putting about 100 traders at the fixed-income unit in London on leave as Switzerland’s largest lender shrinks its investment bank. UBS boosted its profitability goal and announced plans for about 10,000 job cuts as Chief Executive Officer Sergio Ermotti scales back the investment bank to focus on wealth management.

ANADIGICS, Inc. (NASDAQ:ANAD) stock increased 10.95% to $1.52. The company reported third quarter 2012 net sales of $28.6 million, an increase of 14.1% sequentially and a decrease of 23.1% from the third quarter of 2011. GAAP net loss for the third quarter of 2012 was $17.0 million, or ($0.24) per diluted share.  Non-GAAP net loss for the third quarter of 2012 was $15.3 million, or ($0.21) per diluted share.

PVH Corp(NYSE:PVH) stock soared 21.86% to $111.44 after the company said it has agreed to buy The Warnaco Group Inc for about $2.9 billion in cash and stock. PVH is offering Warnaco shareholders $51.75 in cash and 0.1822 of a share of PVH common stock for each Warnaco share. The company said it has commitments for $4.33 billion in financing from Barclays, BofA Merrill Lynch and Citigroup Global Markets Inc.
You have read this article ANAD / NOK / NOKIA / NYSE:NOK / PVH / UBS / VRNG with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/nokia-vringo-are-showing-high.html. Thanks!

Tech Laggards: Apple Inc. (NASDAQ:AAPL), Facebook Inc (NASDAQ:FB) Weighs, Microsoft (MSFT) Leads – NFLX, BIDU, ZNGA


The Tech sector gapped down this morning as investors returned after an unexpected long weekend following hurricane which has shaken the U.S. in the past two days. U.S stocks closed for the second consecutive day on Tuesday, which was the first 2-day shut down after 1888.

Back to the markets update, there are two heavy weights which are putting selling pressure on the entire index - Apple Inc.(NASDAQ:AAPL) and Facebook Inc(NASDAQ:FB). NASDAQComposite (INDEXNASDAQ:.IXIC) slid -16.24 (-0.54%) to 2,971.71.

 Shares of Apple Inc fell 2.20% to $590.86 as investors surprised by the company’s announcement to remove Chief Scott Forstall, who was responsible for the development of the new mapping software that was widely criticized and retail chief John Browett, who recently created a controversy when he decided to reduce the number of retail store employees.

However, during the weekend, analysts were of view that the recent reshuffling of management team should not be a concern for the world’s largest company by market value.

In other news, the company won an approval from Chinese regulatory authorities, which would allow the company to start selling its iPhone 5 now. The company is expected to launch by the end of this year.

Facebook Inc(NASDAQ:FB) shares tumbled 34%, although off session low of $20.73. This Monday, the company’s another round of expiration of lock in. However, as Monday was a holiday, there could be some sort of divestment in today’s session. About 229 million shares are scheduled to hit the market, which is hard enough to the company.

Other social media stock is showing selling pressure along with Zynga Inc(NASDAQ:ZNGA) slumped 4.33%. The stock had solid week after the company posted higher than estimated revenue for the latest quarter, pushed its shares up 13% in a single day.

Microsoft Corporation(NASDAQ:MSFT) is bucking the market trend and rose 1.51% to $28.64 on heavy trade. The stock is getting boost from the company’s launchof Windows 8 and Windows Phone 8 operating systems.

Netflix, Inc.(NASDAQ:NFLX) shares are showing volatile move this morning and recently rose 2.50% to $71.31 after falling 85 in early session. On Friday, the stock rose 13% on rumors circulating among market participants that the company could be an acquisition target and the interested party could be Microsoft. Let’s see how things will go on with the struggling company, whose shares have slumped over 75% from its life time peak.

Baidu.com, Inc. (ADR)(NASDAQ:BIDU) shares gapped down this morning as the company’s China’s so called Google issues lackluster outlook for the fourth quarter. The company projects to generate revenue of $979.3 million to $1.010 billion, compared to analysts’ target of $1.03 billion.

For the third quarter, the company posted $1.39 a share on revenue of $994.6 million, compared to analysts’ estimmates of $1.28 a share on revenue of $1.00 billion.
You have read this article AAPL / Apple Inc. (NASDAQ:AAPL) / BIDU / Facebook Inc (NASDAQ:FB) / FB / Microsoft (MSFT) / NFLX / ZNGA with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/tech-laggards-apple-inc-nasdaqaapl.html. Thanks!

Nokia & Vringo Soar In Early Action (NOK, VRNG, UBS, ANAD, PVH)


Nokia Corporation (ADR)(NYSE:NOK) stock gained 6.25% to $2.72. The company announced that its Lumia 822, Windows Phone 8-based smartphone now will be available through a Verizon Communications Inc. (NYSE:VZ) deal.

Additionally, the company recently launched convertible bonds to generate EUR 750 million. This step will help the Finnish handset makeer to use the net proceeds of the offering to prudently manage its capital structure. It will ensure Nokia to preserve the existing pools of liquidity and to address the upcoming debt maturities.

Vringo, Inc.(NYSEAMEX:VRNG) shares increased 9% to $4.36. On Tuesday, October 30, Google filed two Motions for Judgment as a Matter of Law, which essentially seek dismissal of Vringo's claims against them. A motion for judgment as a matter of law is a "during or post trial" equivalent of a motion for summary judgment. Investors are getting optimistic on the company’s lawsuite against the company and expecting the company to win the case.

Additionally, the company, early this month, filed a lawsuit against ZTE Corp.'s U.K. unit for alleged infringement of its patents for handsets, base stations and base station controllers. Representatives of ZTE weren't immediately available for comment.

UBS AG (USA)(NYSE:UBS) shares gained 13.50% to $14.97. The company is putting about 100 traders at the fixed-income unit in London on leave as Switzerland’s largest lender shrinks its investment bank. UBS boosted its profitability goal and announced plans for about 10,000 job cuts as Chief Executive Officer Sergio Ermotti scales back the investment bank to focus on wealth management.

ANADIGICS, Inc. (NASDAQ:ANAD) stock increased 10.95% to $1.52. The company reported third quarter 2012 net sales of $28.6 million, an increase of 14.1% sequentially and a decrease of 23.1% from the third quarter of 2011. GAAP net loss for the third quarter of 2012 was $17.0 million, or ($0.24) per diluted share.  Non-GAAP net loss for the third quarter of 2012 was $15.3 million, or ($0.21) per diluted share.

PVH Corp(NYSE:PVH) stock soared 21.86% to $111.44 after the company said it has agreed to buy The Warnaco Group Inc for about $2.9 billion in cash and stock. PVH is offering Warnaco shareholders $51.75 in cash and 0.1822 of a share of PVH common stock for each Warnaco share. The company said it has commitments for $4.33 billion in financing from Barclays, BofA Merrill Lynch and Citigroup Global Markets Inc.
You have read this article AMEX:VRNG / ANAD / NOK / Nokia Corporation (ADR)(NYSE:NOK) / PVH / UBS / Vringo Inc. (AMEX:VRNG) / VRNG with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/nokia-vringo-soar-in-early-action-nok.html. Thanks!

Advanced Micro Devices, Inc. (NYSE:AMD): ARM-based Server Chips will be Sold by AMD in 2014


Advanced Micro Devices, Inc.(NYSE:AMD will sell a 64-bit processor design in 2014 from ARM and incorporate the Freedom Fabric interconnect technology in it from SeaMicro, which was taken over by AMD earlier this year. The company is all set to once again take on long-time rival Intel.

The latest offering from AMD is mainly for huge , web-scale workloads running in giant data centers and will feature a new line of system-on-chip Opteron processors. In 2003, AMD had unveiled its first 64-bit x86 processors and scored over Intel and the company wishes to replicate that success via ARM. Initially this product can be used on servers, but it might be available on tablets too, some time in the future. AMD wishes to score by selling new server chips to companies like Dell and Hewlett-Packard and to their own servers as well.

However, ARM has not announced the 64-bit processor design till now, which could be codenamed Atlas and is expected to be launched at its TechCon conference on Tuesday. Fate was not on their side because ARM CEO Warren East could not fly in from UK and he had to record a quick video in a cab, where he spoke of the deal with AMD.

Requirements for computers are changing fast due to online gaming and social networking, and the ARM-based servers will work wonders for them as they can handle bulk data of small transactions, according to Lisa Su, an AMD senior vice president and general manager. The architecture also uses less energy as they were initially modeled for mobile phones.

There are two SeaMicro technologies that are the USP -  Freedom Fabric, which can connect thousands of servers in a cluster with low latency and at a relatively low price and another custom chip that integrates many components from a traditional server board onto one chip, thereby enabling dense server designs.

Intel has taken a different route as it does not want to pay off a royalty to ARM for each chip. Instead, they are devising ways to make their server chips energy efficient. A low-power server chip with a code name Centerton will debut in the 2nd half of the year. Intel spokesman Radek Walczyk is confident that they meet client requirements that include low powered CPUs, support for vital server features, and software compatibility. But the Freedom Fabric technology is way ahead as it enhances communications and takes it to a different level altogether.
You have read this article Advanced Micro Devices Inc. (NYSE:AMD) / AMD / NYSE:AMD with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/advanced-micro-devices-inc-nyseamd-arm.html. Thanks!

Apple Inc. (NASDAQ:AAPL): iPad Mini Comes With All The Features, Except The Superior Screen


Apple Inc.(NASDAQ:AAPL)’s entry in the accelerating mobile tablet competition squeezes nearly 35% more screening space onto a lighter package than rival makers like Amazon and Google. However, it comes with an inferior resolution and a hefty price tag, according to influential reviewers.

The iPad mini starts at $329 whereas Google’s Nexus 7 and Amazon’s Kindle Fire HD are available at $199 each. According to the Wall Street Journal columnist, Walt Mosseberg, the iPad mini is easy to hold with one hand, which eliminates the shortcoming of the 10-inch iPad.

David Pogue, a columnist in New York Times agreed with Mossberg on this and offered kudos for stuffing most of its full-sized version’s features onto a smaller device.

However the resolution of 1024x768 in the iPad mini is a major drawback from the iPad’s much-talked-about Retina Display. The poor resolution underperformed the competitor Nexus and Kindle, as per both the reviewers.

Mossberg said that Apple opted to go with a poor display since the existing 150,000+ iPad applications could run unmodified in two resolutions. The higher level would have sucked too much power.

Mossberg wrote that the lack of true HD gives Fire HD and Nexus a benefit for video fans. His tests revealed that the videos seemed fine although they were not as great as they were on the standard iPad.

The standard iPad was released in 2010 and went on upend the personal computer industry, producing a raft of similar devices. The iPad mini marks the first foray of Apple into a smaller 7-inch arena that Amazon’s Kindle Fire now rules, signifying demand that exists for such a device.

Apple has made its boldest move in consumer hardware since Tim Cook took over the company. It hopes that the smaller tablet can beat back incursions onto its home turf of consumer electronics. 
You have read this article AAPL / Apple Inc. (NASDAQ:AAPL) / NASDAQ:AAPL with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/apple-inc-nasdaqaapl-ipad-mini-comes.html. Thanks!

Starbucks Corporation (NASDAQ:SBUX) All Set To report Q4 Earnings On Thursday


Coffee chain store operator Starbucks Corporation (NASDAQ:SBUX) will be reporting its fourth quarter results on Thursday.

The street expects it to report earnings of $0.45 a share on revenues of $3.39 billion, while for the December quarter guidance has been set at $3.81 billion in revenues.

Starbucks reported Q3 EPS of $0.43 that fell below the consensus of $0.45 per share. Management also lowered its full fiscal 2013 EPS of $2.04-$2.14 due to a deterioration of the macro environment and a broad-based slowdown.

After two years of depressed coffee prices, they are on the uptick once again and Starbucks will gain from that as it locked in its coffee cost in fiscal year 2013 and started to purchase into fiscal year 2014.

Its margins will see improvement from that.

Surveys have shown that Starbucks is gaining market share at the expense of Green Mountain after it introduced its K-Cups about a year ago.

At present the company has nearly 17 percent of the market share, up from 11.2 percent in January, while that of Green Mountain to 57 percent from 59 percent in the same period.

"In my view, Starbucks will continue to gain K-Cups market share at the expense of incumbents and mass-market brands in the long term given its superior coffee quality, strong brand equity, and competitive pricing," Jiang Zhang wrote in Seeking Alpha.

However due to the downturn and lower speeding patterns, consumers are increasingly turning to cheaper alternatives such as Safeway and Kroger, which have introduced their own K-Cups.

Experimentation with different labels by consumers may affect Starbucks in the near term.

You have read this article NASDAQ:SBUX / sbux / Starbucks Corporation (NASDAQ:SBUX) with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/starbucks-corporation-nasdaqsbux-all.html. Thanks!

Early Movers: Jda Software Group Inc (NASDAQ:JDAS), JDS Uniphase Corp (NASDAQ:JDSU)


JDS Uniphase Corp (NASDAQ:JDSU), the communications equipment maker, posted its results for the  fiscal first quarter and the losses are much higher than last year.  However, profits after adjustments beat analysts’ estimates, although adjusted revenue fell short of expectations.  The revenue forecast for the second quarter was also lower than Street estimates.

The net loss of $11.6 million or $0.05 a share, was much deeper than the net loss of $5.8 million or $0.03 a share in the prior year period.

The adjusted income of the California-based Company was $35 million or $0.15 a share. Analysts had expected only $0.12 a share this quarter.  However, the adjusted net income in the same period last year was higher, $41.2 million or $0.18 a share. 

Adjusted revenues rose 1.2 percent to $420.9 million from $416.1 million. The Street had expected $426.85 million.

The company sees net revenue in the range of $410 million and $430 million in the second quarter.  But analysts expect much higher revenues of $464.40 million.

Shares of JDSU slid 2.23% to $10.10 in the opening session.

Jda Software Group Inc(NASDAQ:JDAS) which is mainly into enterprise technology is on the block, according to sources.  It has reportedly appointed JP Morgan Chase and Co as adviser.  Several parties have expressed their interest in purchasing the company, private equity firms and strategic buyers included.
The $1.5 billion company provides customized software to a wide range of customers.  In March, the New York-based Praesidium Investment Management Company LLC, had disclosed that it had taken a stake in JDA Software and that it would discuss business, management and operations with the company's board, shareholders and other stakeholders.
Praesidium, the largest shareholder of JDA software, has over the last several months increased its equity stake to 8.9 percent.

Shares of the company soared over 12% in the opening session.
You have read this article Jda Software Group Inc (NASDAQ:JDAS) / JDS Uniphase Corp (NASDAQ:JDSU) / NASDAQ:JDSU / NASDAQ:JSDU with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/early-movers-jda-software-group-inc.html. Thanks!

DeVry Inc. (NYSE:DV)’s Q1 profit falls 44 pct, but exceeds expectations


For-profit education company DeVry Inc. (NYSE:DV) late Thursday reported a 44 percent fall in its first quarter profit as enrolment numbers fell, but still managed to beat Street expectations.

New government regulations and the impact of increased scrutiny into their operations have hit for-profit education companies such as DeVry.

They have been accused of providing poor education, saddling students with high debt while very few students graduate out of these institutions.

The federal government has clamped down on these institutions, which now have to meet stringent criteria or risk losing federal aid for students that make up a substantial portion of the revenues of these schools.

On the other side the institutes have also made admission procedures much stricter and the effect has been felt on lower enrolments.

The school's net income fell 44 percent to $32 million, or 49 cents per share, for the quarter that ended Sept. 30. That compares with $57.5 million, or 83 cents per share, a year earlier.

Its total revenue fell 7 percent to $482.7 million.

Analysts were expecting the company to earn 30 cents per share for the period on revenue of $482.5 million.

Shares of the company soared about 25% to $26.01 in Friday’s session.

It has taken some cost cutting measures as it lowered expenses through job reductions and also acquired a Brazilian institute to improve its revenues and reach.

The institute managed to cut $27 million in costs in the first quarter.
You have read this article DeVry Inc. (NYSE:DV) / DV / NYSE:DV with the title October 2012. You can bookmark this page URL http://calliecountrychatter.blogspot.com/2012/10/devry-inc-nysedvs-q1-profit-falls-44.html. Thanks!