News & Notes
Amazon.com (NSDQ: AMZN) avoided a potential labor crisis when employees in a Delaware warehouse facility voted down union representation. It is the first time Amazon workers had ever held a union election, and if approved might have set an inflammatory precedent in company facilities around the country. And earlier this month, Chairman and CEO Jeff Bezos was rushed home on New Year’s Day from a vacation in the Galapagos after experiencing an acute case of kidney stones. He reportedly has already fully recovered and no long term consequences are expected, but his health should be watched in case there is more to the story than is being reported.
Intel (NSDQ: INTC) released fourth quarter earnings last week that were met with disappoint even though the company reported a 3% increase in revenue over the same quarter last year. And although total shipment of PCs declined 10% in 2013, Intel’s revenue from PC sales was down only 4% for the year.
RBC Capital Markets raised its price for Seagate Technology (NSDQ: STX) to $60, and for Western Digital (NSDQ: WDC) to $92 last week, based on increased revenue expectations for both companies in the enterprise and cloud storage sectors.
3D Systems (NSDQ: DDD) issued a press release last week that it has entered into a long term joint development agreement with Hershey “to explore and develop innovative opportunities for using 3D printing technology in creating edible foods, including confectionary treats”. Isn’t that just a fancy way of saying, “making candy”?
Netflix (NSDQ: NFLX) was disappointed at the Golden Globe awards earlier this month, taking home only one minor prize (Best Supporting Actor in a TV Show, Miniseries, or TV Movie) but won nothing for any of its other much acclaimed programming. Too early to say if this marks the end of a fad or is just an off-year for a company that has been hyped as the next great content creator.
Riverbed Technology (NSDQ: RVBD) reported on January 15th that it rejected an unsolicited buyout offer from hedge fund company Elliot Management at $19/share. That same day the company also preannounced better than expected fourth quarter earnings results (the formal earnings announcement is scheduled for January 30th), driving the stock price above $20 for the first time since last February.