Bank of America, the No. 2 U.S. bank, has agreed to sell responsibility for about $87 billion in money-market funds and other products it manages to BlackRock in one of the money market industry's largest deals ever. … [Read more...]
Jawbone Files Countersuit Against Fitbit
The war continues apace in the world of wearable fitness trackers. Jawbone — which makes fitness trackers, speakers and Bluetooth headsets — has filed a counterclaim against Fitbit in a patent infringement case brought by the latter company against its rival in September. … [Read more...]
E. Coli Outbreak Forces Chipotle to Close 43 Restaurants
The end is here. Chipotle has closed 43 restaurants, and we don't know what to do with ourselves. Why did our favorite burrito get taken away from us from dozens of locations in Oregon and Washington? Because 22 cases of E. coli were discovered and were tied to the popular chain. … [Read more...]
HTC Reports a $139M Loss
HTC’s latest financial results are out, and the struggling Taiwanese company is still struggling after posting a net loss of NT$4.5 billion ($139 million) on revenue of NT$21.4 billion ($660 million) for Q3 2015. … [Read more...]
GoPro Inc Reports a Profit
GPRO is doing well in sales and growth but for now it is simply over valued. Our $20 target on GPRO has been affirmed after the companies latest performance GoPro Inc. (GPRO) reported a profit for its third quarter that climbed compared to the same period last year. … [Read more...]
Cheaper Jet Fuel and a Big Merger Agree With American Airlines
A big merger and cheaper jet fuel are doing wonders for American Airlines. The world's biggest airline reported Friday that its net income jumped 80 percent in the third quarter to $1.69 billion despite lower revenue. … [Read more...]
Docker Acquires Tutum, a Natural Fit
Docker announced today that it was purchasing Tutum, a cloud service focused on deploying and managing Docker containers in any environment, whether the cloud or on-premises. The company did not disclose the purchase price. … [Read more...]
213 Jobs Cut by Angry Birds’ Rovio
After announcing in August that it would cut up to 260 jobs, Rovio — maker of the Angry Birds games — today released details of the final number: the Finland-based company is letting go of 213 employees, around 25% of staff, as it continues to restructure and cut away unprofitable parts of its business. In moments like these, understanding your next steps post-dismissal can … [Read more...]