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| Sony posts small second-quarter profit, keeps full-year forecast Thursday, Nov 01, 2012 12:25 AM PDT  TOKYO (Reuters) - Japan's Sony Corp booked a small operating profit in the second quarter, after a loss a year ago, helped by the sale of a chemicals business that offset weak demand for its TVs and other devices, and it kept its full-year profit guidance. July-September operating profit of 30.3 billion yen ($379 million) compared with a 1.64 billion yen loss a year ago, and was close to the average 33.8 billion yen profit estimated by five analysts surveyed by Thomson Reuters I/B/E/S. ... Full Story | Top |
| Sony says $375 million impact on China sales from protests, economy Thursday, Nov 01, 2012 12:25 AM PDT TOKYO (Reuters) - Japan's Sony Corp said Thursday that anti-Japan sentiment in China and weakness in the world's second-largest economy is likely to dent the company's sales by 30 billion yen ($375.3 million) in the year ending next March 31. The company cut its overall full-year sales forecast by 200 billion yen on Thursday. ($1 = 79.9300 Japanese yen) (Reporting by Tim Kelly; Writing by Mari Saito; Editing by Michael Watson) Full Story | Top |
| Elpida says Tokyo court approves acquisition by Micron Thursday, Nov 01, 2012 12:05 AM PDT SAN FRANCISCO/TOKYO (Reuters) - Micron Technology's plan to acquire Japanese memory chipmaker Elpida took a big step toward completion after a Tokyo court approved the agreement and dismissed a rival proposal promoted by a group of bondholders. A district court in Tokyo said on Wednesday it was referring bankrupt Elpida's plan to be bought by U.S. chipmaker Micron to creditors for approval, according to a news release on Elpida's website. ... Full Story | Top |
| Sharp forecasts bigger full-year operating loss Wednesday, Oct 31, 2012 11:40 PM PDT  TOKYO (Reuters) - Japan's Sharp Corp, the struggling maker of Aquos TVs, increased its full-year operating loss forecast to 155 billion yen ($1.94 billion) from a previous 100 billion yen loss forecast. At a net level, it almost doubled its full-year loss forecast to 450 billion yen. Sharp said, however, it expects to post an operating profit in the current October-March second half, after losing 168.9 billion yen ($2.11 billion) in the first half year - a target that will allow its banks to justify a $4.6 billion bailout of the TV maker. ... Full Story | Top |
| Sharp books $1.1 billion restructuring charge for Q2 Wednesday, Oct 31, 2012 11:24 PM PDT TOKYO (Reuters) - Japan's Sharp Corp said on Thursday it was booking restructuring costs of 84.4 billion yen ($1.1 billion) for the July-September second quarter, as well as writing down 61 billion yen of deferred tax assets in the same period. The struggling TV maker slashed its net loss forecast for the full year to next March 31 to 450 billion yen from a previous forecast of 250 billion yen. ($1 = 79.9300 Japanese yen) (Reporting by Mari Saito; Editing by Michael Watson) Full Story | Top |
| Sony cuts PSP, Vita 2012/13 sales forecast to 10 million from 12 million Wednesday, Oct 31, 2012 11:07 PM PDT  TOKYO (Reuters) - Sony Corp cut its forecast for full-year sales of handheld PSP and Vita game consoles to 10 million compared with a prediction it made in August for 12 million. It stuck to its forecast for its PlayStation home consoles of 16 million. The company also said it expects to sell 14.5 million TV sets in the year to next March 31. Three months ago it had a target of 15.5 million. It forecast full-year sales of compact digital cameras of 16 million compared with 18 million predicted in August. (Reporting by Tim Kelly; Editing by Michael Watson) Full Story | Top |
| Apple's Cook fields his A-team before a wary Wall Street Wednesday, Oct 31, 2012 08:18 PM PDT  SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook's new go-to management team of mostly familiar faces failed to drum up much excitement on Wall Street, driving its shares to a three-month low on Wednesday. The world's most valuable technology company, which had faced questions about a visionary-leadership vacuum following the death of Steve Jobs, on Monday stunned investors by announcing the ouster of chief mobile software architect Scott Forstall and retail chief John Browett -- the latter after six months on the job. ... Full Story | Top |
| Elpida says court approves acquisition by Micron Wednesday, Oct 31, 2012 04:20 PM PDT SAN FRANCISCO (Reuters) - Micron Technology's plan to acquire Japanese memory chipmaker Elpida took a big step toward completion after a Tokyo court approved the agreement and dismissed a rival plan promoted by a group of bondholders. A district court in Tokyo said on Wednesday it was referring bankrupt Elpida's plan to be bought by U.S. chipmaker Micron to creditors for approval, according to a news release on Elpida's website. ... Full Story | Top |
| MGM expects online gaming license, state compacts Wednesday, Oct 31, 2012 04:04 PM PDT LOS ANGELES (Reuters) - MGM Resorts International Ltd's CEO expects his company to obtain an online gaming license from Nevada regulators this week, and said states are talking with each other to forge alliances to create a viable interactive gambling market. Obtaining the Nevada license would move MGM one step closer to entering the online field, which is expected to reach $10 billion a year nationwide by 2017. The sector is seen attracting younger players and offering a new avenue for growth to traditional casino operators whose growth has been stagnating. ... Full Story | Top |
| Pentagon sees further use of BlackBerry as door opens to others Wednesday, Oct 31, 2012 03:53 PM PDT  WASHINGTON (Reuters) - The Pentagon on Wednesday said it would continue to support "large numbers" of BlackBerry phones made by Research in Motion Ltd even as it moves forward with plans that would allow the U.S. military to begin using Apple Inc's iPhone and other devices. The U.S. Defense Department last week invited companies to submit bids for software that can monitor, manage and enforce security requirements for devices made by Apple and Google Inc, with an eye to awarding a contract in April. ... Full Story | Top |
| Senate likely to revisit cyber bill when Congress returns Wednesday, Oct 31, 2012 03:50 PM PDT WASHINGTON (Reuters) - Senate Majority Leader Harry Reid hopes to reintroduce cyber security legislation opposed by business groups once lawmakers return after Tuesday's election, a Senate aide said, adding that a White House executive order might pave the way for a compromise on the bill. ... Full Story | Top |
| BMC Software to buy back $1 billion of shares Wednesday, Oct 31, 2012 03:45 PM PDT (Reuters) - Business software maker BMC Software Inc reported lower-than-expected revenue and announced a $1 billion share repurchase plan after a strategic review. BMC, which was under pressure from hedge fund Elliott Management to sell itself, recently approached potential suitors, Reuters reported earlier this month, citing sources. The company expects to complete the share repurchase within the next 12 months. The new authorization brings the company's total outstanding share buyback plan to about $1.5 billion. Shares of the Houston, Texas-based company were up 2 percent at $41. ... Full Story | Top |
| Open Text profit beats estimates on cloud services Wednesday, Oct 31, 2012 03:40 PM PDT (Reuters) - Canadian business software company Open Text Corp's adjusted quarterly profit handily beat estimates, as its expansion into cloud computing services began to pay off, although revenue from licenses fell short of its expectations. Open Text expanded its presence in cloud computing earlier this year when it bought EasyLink Services International Corp for $232 million. Cloud computing services accounted for $44.9 million of the company's total revenue of $326.2 million in the first quarter ended September 30. ... Full Story | Top |
| Changing channels; Sony, Sharp in turnaround battle Wednesday, Oct 31, 2012 02:27 PM PDT  TOKYO (Reuters) - Sony Corp is likely to say it returned to an operating profit for July-September after it sold a chemicals business, but investors still aren't sure a consumer electronics revamp will deliver the profit growth the group seeks. Sony shares, valued at less than $12 billion, have dropped 16 percent since end-June and its 5-year credit default swaps - the cost of insuring against debt default - have jumped by almost 60 percent. The benchmark Nikkei average is down by less than 1 percent. ... Full Story | Top |
| Rosetta Stone and Google settle trademark lawsuit Wednesday, Oct 31, 2012 02:26 PM PDT  (Reuters) - Language-software maker Rosetta Stone Inc has agreed to drop its trademark infringement lawsuit against Google Inc over the search engine company's advertising practices. The companies agreed to settle all claims and dismiss the suit, according to a filing on Wednesday in U.S. District Court in Alexandria, Virginia. The terms of the settlement were not specified. The case tested whether Google's sale of other companies' trademarks for sponsored links could give rise to liability for trademark infringement. ... Full Story | Top |
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