| Today's Top 3 Stories | | #1 | Best Buy Profit Beats Estimates, Shows Signs Of Turnaround
| | | Best Buy reported a better-than-expected quarterly profit, showing signs that chief executive Hubert Joly's turnaround efforts were progressing and sending the company's shares up as much as 8.5 percent in morning trading. (Reuters)
Why This Is Important: Analyst reaction to the report was (predictably) mixed, with some encouraged by the favorable news while others remained skeptical of the likelihood it will sustain.
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| | #2 | Why AT&T Chose DirecTV Over Dish
| | | AT&T chief financial officer John Stephens answered a question that has been on many investors' minds in the past few days – why didn't the phone giant make a play for Dish Network – at an industry conference Wednesday, telling the audience that regulators would have had difficulty approving such a deal. (Multichannel News)
Why This Is Important: AT&T's CFO said purchasing DirecTV was always AT&T's first choice but that purchasing Dish would have raised regulators' concerns over wireless competition because of the ample cellular spectrum that Dish owns but hasn't yet deployed.
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| | #3 | Sony CEO: Not Thinking Of Selling Or Shutting TV Business
| | | Sony Corp could take on an equity partner in its TV unit, which has racked up losses every year for a decade, but the Japanese consumer giant was not thinking about selling or exiting the business, its chief executive said on Thursday. (Reuters)
Why This Is Important: Although the company is often criticized for making overly optimistic forecasts, Hirai insists that Sony will be able to weather any missed profit targets.
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"We're doing business in the competitive environment of a market. I wouldn't rule out the possibility of an equity tie-up, but right now we are not doing business under the assumption that would happen." – Sony CEO Kazuo Hirai
| | | Blog Post of The Day | iPhone 6 Demand To Be High, Cannibalize iPad Sales
By Michael Blair
The iPhone 6 has been rumored to come with a larger screen, putting Apple squarely into the market trend to smartphones with larger screen sizes. On May 12, 2014, PC Magazine questioned whether Apple really needed an iPhablet and whether one would make it into the market this year. More » |
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