Apple buys back $14 billion worth of stock
Number of the day
Thats how much stock Apple has repurchased in the two weeks since it reported disappointing iPhone sales. The shares fell 8 percent on Jan. 28, after the Cupertino company also issued a revenue forecast that was lower than analysts expected. Billionaire activist investor Carl Icahn, whos been pressuring Apple to boost its stock buybacks, last month urged it to repurchase $50 billion this fiscal year.Hear here
Hirai has tried many things, and if those plans dont work by next year, Ill have to question his management.
Naoki Fujiwara, chief fund manager at Shinkin Asset Management in Tokyo, on Sony CEO Kazuo Hirai, who took the helm two years ago pledging to turn around the consumer-electronics business. Sony said Thursday that the TV unit will lose $1.1 billion, its 10th straight year of red ink. Its also selling the personal-computer division and cutting 5,000 more jobs as it shows few signs of developing hits to challenge Apple and Samsung.Heads up
VMWare Partner Exchange, a conference sponsored by the Palo Alto maker of virtualization and cloud software, kicks off this weekend with boot camps at Moscone Center in San Francisco. Four days of formal sessions start Monday, featuring top VMWare executives including CEO Pat Gelsinger, President Carl Eschenbach and Chief Technology Officer Ben Fathi. Salman Khan, founder of the Khan Academy, speaks Wednesday.