Archive for the ‘Market’ Tag

Circuit City’s Survival at Stake

Circuit City

Circuit City

Electronics retail store Circuit City might have to close up to 150 locations and even declare bankruptcy if the current market doesn’t see some kind of revival during the Christmas season.

From BetaNews: “The management team, board of directors, and its strategic financial advisers are conducting a comprehensive review of all aspects of our business to determine the best methods of accelerating our turnaround,” a Circuit City spokesperson responded in a statement today.

BetaNews

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Apple UP. Yahoo! DOWN.

Apple & Yahoo! Financial Results

This week saw 3rd quarter results announcements from many companies including Apple and Yahoo!.

While Yahoo! were announcing a 10% workforce reduction, a 64% drop in profits, and an overall goal to cut expenses, Apple were showing optimistic results for the 3rd quarter that ended in September 2008.

Apple, along with its iPhone, is now considered to the be 3rd largest phone distributor behind Nokia and Samsung. Additionnally, iPod and Mac sales were still going strong, and as a result, Apple posted net quarterly profit of $1.14 billion, or $1.26 per diluted share.

washingtonpost.com