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After Strong Quarter, Apple Signals Changes in Its Prices (Finance, 6 articles)
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The company's stock fell about 10 percent on Monday in after-hours trading as Apple executives hinted during a conference call about Apple's third-quarter financial statement that they would price products more aggressively in the future. The company also told Wall Street analysts to expect lower gross margins and made a conservative sales estimate for the final quarter of the 2008 fiscal year. Executives sketched out a series of reasons for the profit margin decline, including educational discounts, component price adjustments and a new product line that is widely rumored to include redesigned laptop computers. (Paul Sakuma/Associated Press) Macintosh and iPod sales helped boost Apple Inc.'s fiscal third-quarter earnings 31 per cent, beating Wall Street's expectations Monday, but investors pummeled the stock after Apple issued soft guidance for the current quarter. SAN FRANCISCO (Reuters) - Apple Inc said on Monday its current-quarter earnings would be well below Wall Street targets, sending shares of the iPhone, iPod and Macintosh maker down 10 percent. Maybe the investor confidence ratio is dipping due to non-faith in succession plans, but that could be said for any company theoretically. It had been a hobby - albeit a time-consuming one - while Dr. Kim earned his medical degree.
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Other stories about quarter, billion and share:
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Roche Offers $43.7 Billion for Rest of Genentech (Finance, 4 articles)
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But the deal risks disrupting the culture at Genentech that even Roche has said helped account for the success of the California biotechnology company in bringing innovative new drugs to market. Roche, of Basel, Switzerland, made the offer a week after Genentech, of South San Francisco, reported that net income rose 4.7 percent in the second quarter. Shares in Genentech, the US biotech company, jumped sharply on Monday amid investor hopes that Roche, its Swiss parent, may be forced to increase a $44bn offer to buy out all minority shareholders.
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Renminbi fall fuels talk of policy shift (Finance, 4 articles)
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US equities ended a three-day winning streak on Monday as rising oil prices hit consumer-facing stocks and results from Bank of America failed to whet investor appetite for financial stocks. The day began positively, after Bank of America said second-quarter profits dropped 41 per cent to $3.41bn - a better result than analysts expected. The Chinese renminbi fell for the third consecutive day on Monday, sparking speculation that its continued appreciation might not be a foregone conclusion.
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Yahoo gives Carl Icahn 3 seats on its board (Finance, 9 articles)
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SAN FRANCISCO - Yahoo s board and management earned a reprieve after a weekend deal ended a bruising and acrimonious fight for control of the company with Carl C. Icahn In the deal, announced on Monday, Mr. Icahn agreed to drop his proxy bid to replace Yahoo's directors in exchange for three seats on an expanded board. Even so, with many shareholders angry at the company's lagging performance and falling share price, Yahoo's future remains up in the air.
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blaster@cs.columbia.edu
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