 | Good afternoon Bit |  |  | Microsoft reported a dip in quarterly sales of its core Windows operating system, mirroring a recent downturn in personal computers. The world's largest software company met Wall Street profit estimates, as strong sales of its Office suite of applications and game systems took up the slack. "Microsoft to me is no longer a growth stock but it is a very attractive value stock. They continue to generate tremendous free cash flow. Their balance sheet is really unmatched," Channing Smith of Capital Advisors said.
Sony could face legal action across the globe after it delayed disclosing a security breach of its popular PlayStation Network, infuriating gamers and sending the firm's shares down nearly 5 percent in Tokyo Thursday.
Mobile privacy safeguards should also extend to third party application developers, two lawmakers said after reviewing the practices of four major U.S. wireless carriers.
Tech columnist Dan Gillmor encouraged readers whose privacy has been violated to take their business elsewhere, including from Apple, after statements from CEO Steve Jobs defending his company's collection of location data didn't fully square with what the company said before.
Panasonic said it would cut 17,000 jobs and close up to 70 factories around the world over the next two years in a bid to pare costs and keep up with Asian rivals. The cull comes on top of nearly 18,000 job cuts made in the past business year, for a total of around 35,000 over three years.
A group of Facebook shareholders is seeking to offload $1 billion worth of shares on the secondary market, a sale that would value the company at more than $70 billion, according to five sources. It would represent one of the largest transactions of Facebook shares to date and points to a growing wariness among early-stage investors and employees who fear Facebook's growth cannot keep pace with its market valuation. "It's hard to imagine it will turn into a $270 billion company in the next few years," said Sumeet Jain, partner at CMEA Capital, who has examined Facebook deals recently and has taken a pass.
Apple's cloud-based music service could be called iCloud, writes GigaOM's Om Malik. Malik made the assumption after a source told him that the domain name iCloud.com had recently been sold to Apple for $4.5 million. | | | LATEST NEWS | | RIM cuts Q1 forecasts | | April 28, 2011 05:02 PM ET | | TORONTO (Reuters) - Research In Motion slashed its earnings outlook for the current quarter by 11 percent on Thursday, saying it expects to ship fewer and cheaper BlackBerry smartphones. | Full Article | | Cisco offers early retirement as it revamps | | April 28, 2011 01:02 PM ET | | BOSTON (Reuters) - Networking giant Cisco Systems Inc is offering some employees incentives to retire early as part of an ongoing effort to revive a company that Chief Executive Officer John Chambers has said has lost its way. | Full Article | | | BUSINESS NEWS
| | Economic growth slows as inflation surges | | April 28, 2011 04:26 PM ET | | WASHINGTON (Reuters) - Economic growth braked sharply in the first quarter as higher food and gasoline prices dampened consumer spending and sent inflation rising at its fastest pace in 2-1/2 years. | Full Article | | Chrysler to fully repay U.S. and Canada loans | | April 28, 2011 04:55 PM ET | | DETROIT (Reuters) - Chrysler Group LLC, which came to the brink of collapse before a federal bailout in 2009, plans to fully repay more than $7 billion in loans from the U.S. and Canadian governments by the end of June. | Full Article | | Bondholder group files new Lehman repayment plan | | April 28, 2011 03:34 PM ET | | NEW YORK (Reuters) - Bondholders fighting for control of Lehman Brothers Holdings Inc's repayment plan have amended a proposal for the company's restructuring that would provide them a slightly higher recovery. | Full Article | | | | U.S. TOP NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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