Articles from Investor's Business Daily. Investor's Business Daily (IBD) is a national newspaper in the United States, published Monday through Friday, that covers international business, finance, and the global economy.
TECHNOLOGY Microsoft Xbox gets lower price The software giant said it'll cut the price of the Xbox 360 Elite, its priciest video game console, by $100 to $299.99 as of Fri., stepping up a price war. Microsoft MSFT will keep its entry-level Xbox Arcade model at $199.99 and phase out its mid-range Pro console. The news comes days after Sony SNE dropped the price of its PlayStation 3 to $299. Nintendo says it has no plans to lower the price of its best-selling Wii, which sells for $249, despite... Read Full Story
TECHNOLOGY Chip sales climb 5% sequentially Int'l sales of semiconductors hit $18.2 bil in July, up 5% from sales of $17.2 bil in June, but down 18% from a year ago, the Semiconductor Industry Association said. It was the fifth consecutive month of sequential increases in chip sales, reflecting improving demand in the consumer sector. But the SIA said purchases by the enterprise sector continue to be tempered by caution and longer replacement cycles. Apple AAPL has set Sept. 9 as the date... Read Full Story
FINANCIAL BofA repayment plan questioned The bank is talking with federal regulators about repaying some of the $45 bil in U.S. aid its received, according to a published report, but analysts questioned whether Bank of America BAC is healthy enough to give back the money. The gov't also wants BofA to pay about $500 mil tied to a deal under which the U.S. agreed to help cover certain losses. While the bank has been building reserves to cover its losses, its amount of bad debt has swelled at... Read Full Story
Stocks remained higher in early afternoon trading Monday, but they pared some gains. The NYSE composite was up 0.7%, down from 1% at session high. The Dow and S&P 500 added 0.6% each, while the Nasdaq climbed 0.4%. Volume was again tracking sharply lower on both exchanges. Geokinetics GOK tacked on 7% to a fresh 10-month high. It continued to follow through after clearing a 15.61 buy point from a cup-with-handle pattern Thursday. The provider of seismic data lost money for the past five... Read Full Story
TECHNOLOGY Yahoo overhauls search this year The Internet icon plans to upgrade its own search engine before it starts to lean on Microsoft MSFT technology. Yahoo's YHOO changes will include a feature that lets users see search results from social network sites such as Facebook and Twitter directly on Yahoo's page. Yahoo also unveiled upgrades to its online e-mail service, including bigger file attachments and a new mobile site. Swiss, Google fight over photos A Swiss gov't official wants the... Read Full Story
Stocks opened higher, pulled back and turned mixed early Friday. The Nasdaq rose 0.7%, while the Dow fell 0.2%. the NYSE composite and S&P 500 were both flat. Volume was tracking sharply higher on both exchanges. In economic news, the University of Michigan sentiment index for August rose to 65.7, beating views for a 64.8 reading. On the corporate front, big-cap techs showed strength on the heels of Dell's DELL Q2 results and Intel's INTC Q3 sales guidance. Intel now sees revenue between $8... Read Full Story
TECHNOLOGY Apple, China Unicom unveil pact After months of rumors, Apple AAPL has reached a deal with wireless carrier China Unicom CHU to sell its iPhone in the world's largest cell phone market. The firms won't share revenue. Instead, China Unicom will buy the phones outright from Apple and offer them with as-yet unspecified subsidies starting in Q4. Unicom may have to offer substantial subsidies to reach a competitive price. Many Chinese already use unlicensed iPhones. Unicom shares rose... Read Full Story
FDIC Boosts Banks On 'Bad' List 1 Problem U.S. banks and thrifts on an official watch list rose more than a third to 416 in Q2 as bad loans continued to bite. The FDIC also said its insurance fund to protect depositors at roughly 8,100 institutions fell 20% to $10.4 bil, indicating it'll hike bank fees to build its reserves. The industry posted a $3.7 bil loss in Q2, down from a $7.6 bil profit in Q1. After Initial Drop, Stocks Rally 2 Stocks recovered from an early morning selloff to finish... Read Full Story
Tech Leader Fails To Lift Market 1 Stocks opened higher after chipmaker Intel INTC raised its outlook, but equities closed mixed after a gov't report raised concerns about consumer spending. The Dow fell 0.4%, snapping an 8-session win streak. The NYSE composite and the S&P 500 slipped 0.2%. The Nasdaq edged up 0.1%. Volume was higher. The 10-year Treasury yield dipped to 3.45%. Intel Raises Hopes For Recovery 2 The chip giant hiked its Q3 sales target to $8.8 bil-$9.2 bil vs. views of $8.55... Read Full Story
China's Drop Rattles U.S. Buyers 1 Stocks fell in mixed volume, pushing investors away from risk. The rocky start to the week began after the Shanghai composite sank 6.7% on gov't plans to turn off the flood of easy credit. The Dow fell 0.5%, the Nasdaq and NYSE composite 1%, and the S&P 500 0.8%. The 10-year Treasury yield fell 5 ticks to 3.40%. China Stocks Hit 3-Month Low 2 The Shanghai composite index dived 6.7%, ending Aug. down 21.8%, the second-biggest monthly loss in 15 years. The... Read Full Story
