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Articles tagged with: Financials

Apple Stock Gets Downgraded – Shares Drop

JMP Securities has downgraded Apple this morning from “market outperform to market perform.”

The reason for the downgrade that JMP states is, “A notable deceleration in its primary manufacturing partner Hon Hai.” With the deceleration of Hon Hai’s sales growth, they believe Apple’s business could follow. Hon Hai is the parent company of Foxconn, Apple’s manufacturer. JMP also believes the iPhone sales could just be in line with expectations this year, as well as seeing iPad sales replacing Mac sales.

With Apple’s track record…

Hackers Break Into NASDAQ’s Computers

The Wall Street Journal has reported that the computers for the Nasdaq Stock Market exchange were compromised during the past year. Essentially the computers for the Nasdaq OMX Group were targeted and hacked but the trading platform was unaffected. However, it was unclear which other parts of Nasdaq’s computer network was accessed.

Federal investigators speculate on a number of potential motives around it, but intentions are likely for unlawful financial gain and theft of trade secrets designed to damage the exchange.

According to the report, the investigation is being conducted by the Federal Bureau of Investigation (FBI) and the U.S. Secret Service. The attacks is worrying investigators, who are unsure whether all potential holes have been closed, considering the attackers are seeking new ways to breach the systems.

LinkedIn Files For IPO And Provides Insights

With more than 90 million users, LinkedIn, the social network that helps professionals connect, filed for an initial public offering. The site which is mainly used for business networking, didn’t reveal the number of shares it plans to offer or price range, but offers insights into its current financials and operations.

The fillings highlight how profitable the business of social networking can be. Currently, LinkedIn’s revenues come from three main sources — advertising, hiring solutions and premium subscriptions. According to the filling, it generated revenues of $120 million for 2009 and $161 million for the first 3 quarters of 2010. Its hiring solutions and advertising have become the company’s primary growth areas, comprising of 41% and 32% of revenue, respectively. It indicated it doesn’t expect profitability in 2011 because of investments in technology and a few other areas. It also disclosed that a “substantial majority” of its members don’t visit the site on a regular monthly basis.