Futures lower as investors await dataHas the time come for Apple Inc. (NASDAQ: AAPL) to worry about competition from Google Inc. (NASDAQ: GOOG), the search giant that has become such a formidable competitor to Microsoft Corp. (NASDAQ: MSFT)? Well, talk of the Google Phone or Gphone has been floating for a quite a while and now, according to Rediff, the Gphone launch "is believed to be a fortnight away." Also according to the site, Google "has started talks with service providers in India for an exclusive launch on one of their networks," and that "a simultaneous launch across the US and Europe is expected." Of course, Google wouldn't comment on rumors. The Gphone, if ever launched, will no doubt be compared to Apple's iPhone, but as I said, rumors of the Gphone have been around a while now. Google never commented, yet these rumors keep returning. Will this be another such rumor that will fade away into the blogosphere?
The Gap Inc. (NYSE: GPS) reported earnings after the close yesterday and quite impressed Wall Street as the stock is trading up 3.33% in premarket action (7:46 a.m.). Gap posted a second-quarter profit that surged 19% to $152 million, or 19 cents per share. While online sales soared 26%, second-quarter revenue declined 1% to $3.69 billion, and same-store sales declined by 5%. Analysts expected Gap to earn 19 cents per share on revenue of $3.72 billion. Analysts liked what they saw as well.
And ... the coast is clear to Whole Foods Market Inc. (NASDAQ: WFMI), Wild Oats Markets Inc. (NASDAQ: OATS) merger to proceed after an appeals court upheld the ruling from last week, denying the FTC its request to block the merger. WFMI stock is trading up 2.68% in premarket (8:00 a.m.) while OATS is up 2.27% (8:06 a.m.). Will we see Sirius and XM moving higher on the news as many believe this merger approval would pave the way to the satellite radio companies' merger being approved as well?
Burger King Holdings Inc. (NYSE: BKC) reported fourth quarter results this morning, posting a profit versus a loss a year earlier. BK earned $36 million, or 26 cents per share and sales rose 11% to $590 million. Analystshad expected earnings of 27 cents per share on sales of $580.4 million. Shares of BKC are up 4.33% in premarket trading (8:02 a.m.).
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Reader Comments (Page 1 of 1)
8-25-2007 @ 1:46AM
donsnyc said...
Google phone will only affect AAPL very little, if not at all. The Iphone is not the only product of Apple, the Mac computer product lines are it's biggest revenue generator. Google and Apple are also not in direct competition with each other, basically Google is an advertising company selling intangible products, while apple sells computers, hardware, software, services, music players and other products.