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LinkedIn shares soar after big Q1 beat

2019-03-06T05:37:22-05:00

LinkedIn shares soared Thursday after the company reported quarterly earnings and revenue that easily topped Wall Street’s expectations.

The company said it saw adjusted first-quarter earnings of 74 cents on $861 million in revenue. Analysts, meanwhile, had expected LinkedIn to report earnings of about 60 cents per share on $828 million in revenue, according to a consensus estimate from Thomson Reuters.

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This article originally appeared on Recode.net.

Icahn: We’re out of Apple, and it’s China’s fault

2019-03-06T05:15:16-05:00

Billionaire investor Carl Icahn told CNBC on Thursday he has sold his Apple position as the tech giant’s stock continues to shed value in the wake of disappointing earnings.

“We no longer have a position in Apple,” Icahn told CNBC’s “Power Lunch” on Thursday, noting Apple is a “great company” and CEO Tim Cook is “doing a great job.”

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This article originally appeared on Recode.net.

Priceline CEO quits over personal relationship with employee

2019-03-06T05:37:20-05:00

Priceline Group CEO Darren Huston had resigned, effective immediately, following an investigation related to a personal relationship that he had with an employee who was not under his direct supervision.

The investigation determined that Huston had acted contrary to the company’s code of conduct and had engaged in activities inconsistent with the board’s expectations for executive conduct, which Huston acknowledged and for which he expressed regret.

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This article originally appeared on Recode.net.

SecureWorks, first tech IPO of 2016, opens at $13.89 after pricing at $14 a share

2019-03-06T05:09:35-05:00

SecureWorks’ stock whipsawed Friday on its first day of trading as a public company.

Shares of the cyber security company, listed under the ticker “SCWX,” opened lower at $13.89, but quickly recovered, last trading slightly higher above $14. This is the first initial public offering (IPO) of a U.S. technology company in 2016.

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This article originally appeared on Recode.net.

Lil Wayne Helps Samsung Reach Viral Success

2019-03-06T05:11:05-05:00

How do you prove to the public that the Galaxy S7 is waterproof? Samsung’s strategy is simple: Get one of the most well-known living rappers, Lil Wayne, to show off its smartphones capabilities in the most over-the top way possible.

“One of the things for us as we launched this new campaign was to tell the Samsung brand story in new and humorous ways people can engage with,” said Marc Mathieu, chief marketing officer at Samsung Electronics America.

And, the tech brand did just that. In a recent series of commercials for the Galaxy S7, Wayne is seen pouring champagne on the phone and dunking it in a fish tank — all without the phone shorting.

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This article originally appeared on Recode.net.

SolarCity Shares Spike After Whole Foods Deal

2019-03-06T05:10:22-05:00

SolarCity’s shares popped Tuesday after the alternative energy company announced a deal to install solar panel systems in Whole Foods Market stores across the U.S.

The plan aims to increase the production of solar power and offset the need for a traditional grid power while helping the organic food store save money, according to the companies’ joint press release. In total, the energy firm will retrofit up to 100 Whole Foods stores with rooftop solar panels.

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This article originally appeared on Recode.net.

Tech IPO Freeze Is Sign of Investor Reality Check

2019-03-06T05:39:44-05:00

The tech IPO market is frozen. Storage vendor Nutanix is further proof.

It’s been over three months since Square and Match Group debuted, and not a single software or Internet company has followed. Seven of the past 10 technology companies to go public are trading below their offer price, and four are down by at least 20 percent, according to FactSet.

Nutanix, which filed its IPO prospectus in December, is holding off on selling shares until the stock market volatility wanes, said sources familiar with the matter.

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This article originally appeared on Recode.net.

Fitbit Shares Plunge 15 Percent on Guidance Despite Beat

2019-03-06T05:17:47-05:00

Fitbit reported earnings and revenue Monday that topped analysts’ expectations, but its shares plunged after weaker-than-expected guidance for the current quarter.

The wearable fitness device maker posted fourth-quarter earnings of 35 cents per share, adjusted, on $712 million in revenue. Earnings rose from 21 cents per share in the prior-year period, while sales climbed from $370 million.

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This article originally appeared on Recode.net.

T-Mobile Beats Fourth Quarter Profit Forecasts

2019-03-06T05:17:30-05:00

T-Mobile on Wednesday reported fourth-quarter earnings of $297 million.

On a per-share basis, the Bellevue, Washington-based company said it had profit of 34 cents.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

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This article originally appeared on Recode.net.

Tesla Shares Rise Despite Big Q4 Loss

2019-03-06T05:17:13-05:00

Tesla Motors on Wednesday posted much worse-than-expected quarterly results, but its stock received a boost from guidance.

The electric automaker reported a fourth-quarter loss of 87 cents, adjusted, per share on $1.75 billion in sales. Analysts expected Tesla to post earnings of 10 cents per share on $1.79 billion in revenue, according to a consensus estimate from Thomson Reuters.

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This article originally appeared on Recode.net.