April 23, 2013 |
Apple's stock is on a tear following the electronics giant's announcement it would buy back $60 billion in stock and boost its dividend 15% to $3.05 a share. The huge buyback plan and dividend increase eclipsed a somewhat disappointing second-quarter earnings report in which profit dipped for the first time in a decade. The company also forecast that its earnings in the current quarter would be lower. Apple shares are up more than $20 to $426.79 in after-hours trading. The stock closed at $406.13, up $7.64, in regular trading.
June 25, 2012 |
Losing your company $2 billion apparently causes investors to respect you less, according to a recent survey conducted by Barron's. After an investment group within JPMorgan was found to have lost $2 billion in trading, the bank's listing on Barron's annual survey dropped to 49th this year from 14th last year. After the loss, JPMorgan's chief executive apologized for the risky trading before a congressional committee. Apple again took the top spot, even after its leadership changed when Steve Jobs died last fall.
October 30, 2012 |
SAN FRANCISCO - In the biggest management shake-up since Tim Cook took the helm, Apple has ousted two top executives blamed for a pair of embarrassing missteps. Apple Inc. said Scott Forstall, its longtime executive and a protege of co-founder Steve Jobs, was leaving the company. As head of the mobile software division, Forstall oversaw the iOS operating system that runs the best-selling iPhone and iPad that together account for the bulk of Apple's sales. But the 15-year Apple veteran also was responsible for one of the company's highest-profile gaffes: replacing Google Inc.'s maps with Apple's own faulty mapping software.
December 31, 2012 |
There's often a slow-down in news during the holiday season, with lawmakers out of town, businesses closed and many people on vacation. In turn, newspapers tend to run more feature stories, photos and retrospectives. Whether that touches readers' hearts -- or perhaps readers just have more time to write -- the letters to the editor at The Times often include thanks and appreciation this time of year. Here's a selection. And a happy New Year to all. Ann Bourman of Los Angeles savored a photograph : “Thank you for a lovely Christmas present -- a photograph of adorable children playing and singing Hanukkah and Christmas music in the Breed Street Shul.
September 23, 2013 |
Apple this weekend shattered its record for iPhone sales, but customers looking for the iPhone 5c are in luck: There are still plenty of devices available for purchase. The Cupertino, Calif.-based tech company announced Monday morning that it sold more than 9 million new iPhones around the world, breaking the mark it set last year and blowing past the expectations of many analysts. Sure enough, all those sales led to some units selling out. The gold version of the iPhone 5s, for example, quickly sold out at various locations across the country early Friday morning, and since then, all versions of the iPhone 5s have been harder to find.
December 17, 2012 |
Another day, another few billion dollars of Apple's market cap bounced around like a ping-pong ball by the stock market. After flirting with the $500 barrier early in trading on Monday, the stock rebounded and was up 0.48% to $ 512.25 in mid-day trading. The gut-wrenching ride seemed to be driven by the usual mixed bag of data points. PHOTO TIMELINE: Apple, from Foxconn uprising to a Mini roll-out It's become almost routine, as I wrote over the weekend in a story that tried to explain the extraordinary economic impact and volatility of Apple's stock . But there was a related question that people discussed in the reporting of that story that I didn't include: Is there anything Apple could do to reduce the volatility of its stock?
October 6, 2011 |
Apple co-founder Steve Jobs' death sparked an outpouring of sentiment and statements from fellow chief executives and other major figures in Silicon Valley, government and the entertainment industry. IN TECHNOLOGY: Steve Wozniak, Apple co-founder , reached at dinner with his son, said he was so overwhelmed by calls that he could not get in touch with his emotions: "People sometimes have goals in life. Steve Jobs exceeded every goal he ever set for himself. " Tim Cook, Apple chief executive and Jobs' successor , in an email to employees: "Steve leaves behind a company that only he could have built, and his spirit will forever be the foundation of Apple.… We will honor his memory by dedicating ourselves to continuing the work he loved so much.
November 16, 2011 |
In the first change to Apple's leadership since the death of Steve Jobs last month, the company announced that Walt Disney Co. President and Chief Executive Robert Iger would be the Cupertino, Calif., electronics maker's newest board member. At the same time, Genentech Inc. Chairman Arthur Levinson, an Apple board member since 2005, will become the company's non-executive chairman, filling the role Jobs occupied briefly after his resignation as Apple's chief executive in August.
July 24, 2012 |
Here's one aspect of Steve Jobs' legacy that Tim Cook, his successor at the helm of Apple, must be hating Wednesday: the company's reputation for lowballing its sales and profit estimates. The company found itself in the odd position of reporting better results than it had projected -- and, more objectively, higher quarterly sales and profits than the year before -- yet having its stock hammered in after-hours trading. Why? Because analysts had predicted much higher sales and profits, and thus were surprised and disappointed.
September 12, 2012 |
Apple's stock barely budged after the technology giant unveiled the iPhone 5, which it bills as the world's thinnest smartphone. Investors seemed to shrug off the announcement -- but that's not entirely shocking. Apple shares have, on average, fallen 1.4% the day the company launched all of the previous incarnations of the iPhone, according to Morgan Stanley. PHOTOS: Apple iPhone 5 The investment bank said the week after Apple announcements haven't been all that hot either.