 | Good afternoon Bit |  |  | Microsoft reported a greater-than-expected 30 percent increase in fiscal fourth-quarter profit, helped by sales of its Office software, but profit from its core Windows product fell on soft PC sales. Microsoft posted net profit of $5.87 billion, or 69 cents per share, compared with $4.52 billion, or 51 cents per share, in the year-ago quarter. That easily beat Wall Street's average estimate of 58 cents, according to Thomson Reuters I/B/E/S.
"These are great results given a slower PC environment and it highlights how the company has multiple revenue streams. The $17 billion unearned revenue, which is a forward indicator of business, shows they signed a lot of deals this quarter," said BGC Financial analyst Colin Gillis.
After a brief hiatus and an FBI takedown of several alleged "hacktivists," two groups that claimed responsibility for a recent wave of cyber vandalism said they are back. A statement was posted online on Thursday jointly by the groups, Anonymous and Lulz Security, after U.S. authorities arrested 16 people earlier this week for several attacks, most prominently Anonymous' attempt to cripple eBay's PayPal site after it stopped accepting donations to the WikiLeaks organization.
Groupon's privacy and data-collection policies came under congressional scrutiny, the latest sign of regulatory pressure on the largest online daily deals company. Representatives Joe Barton and Edward Markey, co-chairmen of the House Bi-Partisan Privacy Caucus, said they sent a letter on Thursday to Groupon CEO Andrew Mason asking about the company's new privacy and data collection policy. Groupon unveiled new policies earlier this month in an email to its more than 80 million subscribers. The company said it collects subscribers' contact details and information on their Groupon transactions, financial accounts, location and relationships and shares that data with merchants in some instances.
RIM's PlayBook received the green light for use in U.S. federal government agencies, the BlackBerry maker said. It is the first tablet computer to receive Federal Information Processing Standard 140-2 certification, RIM said in a statement. FIPS 140-2 is used to judge the security of mobile devices, servers, routers and firewalls, for use by federal agencies such as the FBI. Apple has applied for certification for both the iPhone and the iPad. | | | LATEST NEWS | | Google boosts federal lobbying | | July 21, 2011 04:22 PM ET | | SAN FRANCISCO (Reuters) - Google Inc boosted its spending to lobby the U.S. government by 54 percent in the second quarter, as the world's No.1 Internet search engine faces an investigation by the Federal Trade Commission. | Full Article | | Sony insurer sues to deny data breach coverage | | July 21, 2011 12:17 PM ET | | NEW YORK (Reuters) - One of Sony Corp's insurers has asked a court to declare that it does not have to pay to defend the media and electronics conglomerate from mounting legal claims related to a massive data breach earlier this year. | Full Article | | Icahn urges Motorola eye IP alternatives | | July 21, 2011 02:01 PM ET | | NEW YORK (Reuters) - Billionaire investor Carl Icahn urged Motorola Mobility to explore alternatives for its patent portfolio, sending the handset maker's shares up as much as 23 percent. | Full Article | | Nokia abdicates smartphone crown to iPhone | | July 21, 2011 02:24 PM ET | | HELSINKI (Reuters) - Ailing Nokia on Thursday surrendered its lead in the global smartphone market to rival Apple and shed more market share as it reported a steep net loss for the second quarter. | Full Article | | AT&T profit, subscriber growth beat expectations | | July 21, 2011 12:52 PM ET | | NEW YORK (Reuters) - AT&T Inc posted better-than-expected subscriber growth for the second quarter, pushing its profits and sales past Wall Street estimates despite the loss of exclusive U.S. rights to sell the Apple Inc iPhone. | Full Article | | | BUSINESS NEWS
| | S&P says 50-50 chance of U.S. downgrade | | July 21, 2011 02:55 PM ET | | NEW YORK (Reuters) - Standard & Poor's reiterated on Thursday it sees a real risk that future U.S. government deficits may meaningfully miss discussed targets and that there is a 50-50 chance the U.S. AAA credit rating could be cut within three months, perhaps as soon as August. | Full Article | | Geithner gave Fed official waiver on AIG holdings | | July 21, 2011 03:24 PM ET | | WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner, while head of the New York Federal Reserve Bank, granted a waiver that allowed a senior New York Fed official to hold on to investments in firms getting emergency help, a congressional watchdog agency said on Thursday. | Full Article | | Europe agrees sweeping new powers for rescue fund | | July 21, 2011 04:41 PM ET | | BRUSSELS (Reuters) - Euro zone leaders agreed at an emergency summit on Thursday to give their financial rescue fund sweeping new powers to help Greece overcome its debt crisis and prevent market instability from spreading through the region. | 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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