HP has reported its fiscal second-quarter financials, pointing to a slight slide in net revenues to $30.7 billion. Earnings per share fell to $0.80, slightly higher than the internal forecast of $0.68 to $0.71, however the company nonetheless confirmed plans to eliminate eight percent of its workforce.
Yahoo's former senior director of business management, Robert W. Kwok, and a former mutual fund manager at Ameriprise Financial have agreed to settle insider trading charges. The Securities and Exchange Commission maintains that Kwok and fund manager Reema D. Shah shared confidential information after a chance meeting in 2008 and continued with the information exchange into 2009. Kwok pled guilty to conspiracy to commit securities fraud, and Shah pled guilty to conspiracy. Both await sentencing.
IGG Software, which is planning to release a version of its iBank financial software for the iPad sometime later this year, has teased a new feature of the unreleased app on its developer blog. The product now has a name -- iBank Access -- and will feature a new optional service to automatically keep bank records and the app in sync every time the app is launched. The new feature, which expands the number of institutions available, will be available by subscription.
Apple stock has surged past $400 per share in after-hours trading, gaining over six percent in additional value after the company announced yet another "best quarter ever" shortly after the markets closed for the day. Shares had already gained $3 to reach $376 earlier in the day, following a number of positive analyst forecasts ahead of the company's quarterly financial disclosures.
The iPad 2 is leading the way to improved financial numbers for Apple's fiscal third quarter, according to Apple analyst Maynard Um of UBS Equity Research. He is raising his forecast for the quarter -- Apple announces Q3 results July 19 -- due to stronger iPad sales, now estimated at 7.9 million units, alongside improved component pricing that Um projects will add 0.6 percent to Apple's gross margin. Shaw says a less dilutive back-to-school promotion that provides a $100 credit in apps on the App Store -- instead of $220 in free hardware with physical costs to Apple as was the case in previous years -- will factor into the improved margin as well.
Jumsoft has launched a major update to its financial software, Money 4. A redesigned interface, direct bank downloads and smart importing rules are on tap in version 4, which now uses a document-based system, allowing for multiple users to work in one license. The app now sports flexible transactions across multiple account types, such as cash, bank accounts, credit cards, investments, assets and loans. Budgeting is a focus of v4, with budget planning and monitoring of actual outcomes, while portfolio management is improved.
Apple's WWDC Keynote, announcing iCloud, iOS 5 and Mac OS X Lion, has sparked positive reaction from numerous Apple-focused financial analysts, with raised target prices between $460 and $510 per share. The analysts predicted increased sales of the iPad 2, acceptance of Apple's iCloud and iTunes Match service and the popularity of iOS 5 on refreshed hardware in the fall as part of the reason for their enthusiasm for Apple going into the remainder of the year.
Moneydance 2011 final has been released, two months after their preview version in March, adding direct support for importing from Quicken Essentials for Mac, the latest version of the personal Quicken product from Intuit. The new version of Moneydance also expands multi-currency abilities, adds new report and graph types, and features a new automatic transaction categorization engine that intelligently classifies transactions by itself. There's also a re-designed interface for confirming and editing downloaded transactions.
IGG Software has released an update to its financial software, iBank 4.2. The app can be used to manage and track activity from multiple sources including checking and savings accounts, credit cards, loans, 401k and investment accounts. The upgrade adds in-line editor calculations, improved transaction entry and split editing, and offers enhanced rules for complex imports.
Industry analyst Horace Dediu of Asymco has created an almost Mondrian-style financial chart presenting Apple's performance -- compared between the recently-released results of the company's 2010 fiscal fourth quarter (referred to as the calendar third quarter or CQ3) and the same period in 2009 -- to visually illustrate expenses, margins, profits and growth in a single, understandable graphic.
Metaview, a stock research and 3D market visualization tool, has been updated to v2.0, adding additional 3D features such as metaplots of volume data and 3D plotting of headlines and historic events. Developer Lyle Andrews has also added a "Dragnet" feature that searches for news stories related to stocks being analyzed, new faster OpenGL graphics and a more streamlined client/server architecture.
Thanks to the growing popularity of Macs in the business world, Mac users will soon be able to enjoy the benefits of remote deposit capture (RDC) directly from their computers, says a leading bank-software provider. "Remote deposit capture" refers to being able to scan checks and upload the image to a financial institution without ever having to physically deliver the actual check.
IGG Software today announced iBank 4, a major upgrade of its Mac money management software. The software allows users to monitor account balances, track investments, maintain budgets and manage credit cards. It can also generate reports for further financial analysis and can reconcile paper statements. iBank can manage checking accounts and savings accounts, as well as 401K accounts, lines of credit, money market accounts and loans. It can create and manage multiple budgets.
Synium has launched an update to its personal finance software, iFinance 3.2. The application tracks income and expenses, categorizing data to show spending trends. It imports financial data from CSV, QIF, OFX and MT90 formats and handles daily data from the company's iFinance iPhone app. It features limits for overall spending, or specific items in its budgeting module, and can alert the user when an incoming or outgoing payment is missing.
Jumsoft has launched an update to its budgeting software, Money. The financial management and budgeting tool allows users to track transactions across bank accounts and trading accounts. Users can make budget plans and monitor results. The utility can track portfolios, graphing quote history and variations of major world indices or a portfolio's market value. It can also schedule transactions, create invoices and generate income and expense reports.
Fast on the heels of releasing Jumsoft Money for the iPad (also iPhone compatible), Jumsoft has launched Money 3.5, updating the desktop version of the software with iPad sync capabilities. Money is financial management software with budgeting and bill tracking. It has report capability that allows for analysis of past income and spending and helps users focus on areas for improvement.
On the heels of several similar iPhone payments systems, "Simply Swipe It" has announced a new credit card payment app for the iPhone and iPod touch. Swipe It works with Macally’s QuickSwipe credit card reader to allow users to take credit card payments with their mobile device. The app supports both EPay and Authorize.net payment gateways, as well as existing merchant service accounts. For added convenience, the program also pulls contact information directly from the iPhone or iPod touch’s address book.
Synium Software has unveiled an update to its financial management software, iFinance 3.1, along with a complementary app for the iPhone and iPod touch. The desktop utility integrates a new database manager with improved performance, password protection, and a reconcile feature for comparing billing with debiting. The software enables users to create multiple databases, separating personal content from company business.
Werck BV has launched a major upgrade to its Mac-only point-of-sale software, Checkpoint 3. The app delivers tools for managing inventory stocks and can be used to handle a variety of cashier tasks including sales, receipts and invoices. The latest version offers a re-designed product manager, several function and performance improvements, and a new EnStore pay-as-you-go web store for Canada and the US. For simpler item management users can now add barcodes to products, which can be printed on either Avery or Dymo labels.
Apple is set to disclose its third-quarter FY09 financial information on Tuesday, July 21st. A conference call will be streamed live at 8:00 p.m. EDT on the company's website, while the recording will be available through the following two weeks.
Samsung Electronics on Thursday reported its first-quarter financial information, with net income totaling $459 million, which is 72-percent below last year's quarter, according to the Wall Street Journal. The lackluster performance was blamed on operating losses that exceeded a slight improvement in the consumer divisions. Despite the year-over-year decline, the company appears to have recovered from its first-ever operating loss reported last quarter.
Apple on Wednesday reported its financial information for the quarter ending in March, showing mixed results for product sales. Mac shipments were down three percent for the quarter, with sales of 2.22 million computers. Despite predictions that iPod sales would level off or even decline, the company sold over 11 million devices which marks a gain of three percent over last year's quarter.
Oranged has released a major update to Accounted, its financial software aimed at businesses; the app is claimed to calculate a company's books without requiring any accounting knowledge. Version 2.0 of Accounted is said to include 50 new features, among the most important being two new reports. Profit & Loss tracks net income over a given period, while Cash Flow tracks general cash activity.
Despite the buzz surrounding the unreleased Pre handset, Palm expects its financial report to show a continued decline in revenue through the third quarter of FY09 as the company experiences reduced demand for its older Centro and Treo devices. The delayed launch of the Treo Pro in the United States and the current economic recession have further contributed to the company's troubles.
Amid the economic woes, HP's fiscal Q109 financial results indicate declining revenue in the majority of its corporate divisions. The company saw a drop in revenue of 25 percent for desktop PCs, while notebook revenue was down 13 percent. Sales of printers, enterprise products and software followed a similar path. Overall net revenue showed a modest increase of 1 percent over last year, although net earnings dropped by 13 percent.
A v2.3.2 update is now available for Checkout, Werck's Mac-only point-of-sale software. The app handles a variety of cashier tasks, such as sales, receipts and invoices. The software can also be used to manage inventory stocks however, and generate reports on several forms of connected information.
Amid the flurry of financial disclosures this week, Yahoo has posted a net loss of $300 million for the fourth quarter of 2008, compared to a $205 million profit for the same quarter in 2007. The company achieved revenue of $1.81 billion through Q4, marking a drop of one percent from the same period a year earlier. International sales seem to have been hit harder, with a revenue drop of 10 percent, while domestic revenue was up 2 percent. Despite the effects of the weakened economy, revenues rose 3 percent to $7.21 billion for the whole year, while net income surpassed $424 million.
Samsung has joined the group of companies that have been hit particularly hard by the current state of economic strife, with its Q4 financial disclosure indicating an operating loss of 940 billion won (~$680 million USD). Quarterly net income totaled a loss of 20 billion won (~$14 million USD) and marks a first ever for the South Korean company. Contributing factors likely include lowered demand for TVs, computers, handsets and a variety of other electronics.
Chip-maker AMD today disclosed its Q4 financial information, reporting a net loss of $1.42 billion and a revenue drop of 33 percent compared to last year's quarter. The $1.16 billion revenue even fell below the warning announced in December that anticipated $1.2 billion, which already included a 25 percent drop from the forecast made in the previous quarter. The company isn't alone in its struggles through the economic strife, with Intel last week indicating a similar loss of $1.1 billion through the same period.
Synium Software has released a public beta of its new personal finance software, iFinance 3.0. The third edition features interactive 3D charts, a new workflow, a customizable user interface and a budgeting feature. The app manages a user's entire cash flow, and breaks expenses out into categories. The 3D charts give users a quick way of tracking spending and investment patterns, and can be customized to user preference. Stocks, quotes and portfolio performance are tracked in the program, which also generates detailed information about profits and losses.
No Thirst Software has introduced MoneyWell 1.4, the latest version of the company’s personal finance software, in which users create a spending plan and flow the income into expense buckets. New features for the update include direct-download capabilities for financial institutions, enabling one-click transaction list updates; CSV import support, with custom field mapping; and the ability to attach receipt documents and e-mails to transactions. The update also offers a redesigned interface, along with improved duplicate transaction matching and merging.
MYOB has released the latest version of its small business management software for the Mac, AccountEdge 2009. The update features a new Business Insights tool, integration with Marketcircle Daylite, and new options for form design. Google Maps has been integrated as well, providing directions and maps to customer, employee, or vendor locations. MYOB claims that the Network Edition offers quicker searches, faster reports, and other speed enhancements. New filters have been added for searches and reports.
GagaFactory has released GagaMarkets, a desktop display of stock markets in 30 countries. The display shows a flat earth map or a rotating 3D globe, with indices displaying for each country. The market numbers are color coded to reflect positive gains or negative losses in real-time. Users can choose which financial market to track in each country and set the display type in the preference-pane application.
Apple on Tuesday released its third quarter financial results call as a stream on its website, surprising some with the presence of company CEO Steve Jobs, who even stuck around to answer some questions towards the end. Jobs expressed his excitement over a number of accomplishments; most notably that Apple has surpassed RIM in unit sales for the quarter, with over 6.9 million units shipped, versus 6.1 million shipped by RIM.
Apple’s iPhone is currently squeezing profit margins for US wireless carriers, with analysts expecting a drop in third quarter financial results in the coming weeks. Reuters reports that AT&T, Verizon, and Sprint are all expected to unveil lower-than-expected results, thanks in part to a larger subsidy on the iPhone 3G, and users reducing the total cost of their services in today’s depressed economy.
If you own stocks, or just enjoy tracking the market performance of major companies like Microsoft, Apple, and Google, you may glance at a financial website or The Wall Street Journal to see the latest stock prices. Of course rising and falling prices mean little if you don’t also keep track of which stocks you’ve bought, how many shares you own, and what price you paid. To track this type of information, many people type this information in a spreadsheet and then create charts and formulas to track their profits and losses. For a much simpler solution, consider tracking stocks using a product like iStock 1.5.
Apokalypse Software has acquired Simply Elegant Sales from Zarra Studios, rebranding the Mac point-of-sale application as Merchant Wisdom. Apokalypse claims that the aim of the buyout is to deepen its reach into to the small- and home-business markets.
Mitek has announced that its ImageNet Mobile Deposit application (site down at press time) will be coming to the iPhone. The software is a mobile banking tool which allows banks to accept paper check deposits from users with camera-equipped mobile phones. To make a deposit, a user must open the application, type the deposit amount, and snap a photo of the front and back of the check.
Marketcircle has begun shipping Billings 3, a new edition of its professional invoicing software. The program contains a variety of major changes, such as a revised interface, with options for client groups and a chronological accounts view with an inline preview. The app additionally displays icons next to clients with overdue bills, which can be clicked to send out a reminder.
Intuit has formally announced the latest version of its small business accounting software, QuickBooks 2009 for Mac. The user interface has been redesigned for improved organization and efficiency, with a home page that shows the structure of required tasks, and notification badges to draw attention to high-priority items. The most common tasks can also be accessed from the home page, including invoice preparation, timesheet tracking, and bill payment.
A new iPhone/iPod touch application for organizing business and personal receipts has become available at the App Store. Receipts 1.0 allows users to enter important information from a receipt, categorize it, and then save it. The app includes support for creating custom categories, and adding user-defined fields for custom details.
Developer Ken Winograd says he has released v6.0.0 of TinyBooks, a Mac-based accounting and bookkeeping program aimed at families and small businesses. In using the software the program only asks for incomes and expenses, and calculates everything else based on how this data is categorized. The sixth edition introduces extra automation features, such as Auto-Comment option for commonly-used entry descriptions, and a similar option for checks. Multi-country tax support has been improved with automatic tax calculations.
The Highly Technical Doohickey Company has launched TickerMenu 1.0, a Mac OS X Menu Bar application that tracks stocks. Users can choose which stocks to track by entering a stock's symbol, and the display is color-coded to instantly show a gain (green) or decline (red) in stock value. Clicking on TickerMenu in the Menu Bar launches a drop-down window, with extended information on a stock's performance and options for switching to other stocks. The window can also launch one of six financial websites for further research.
UBS Investment Research – a financial analyst firm that recently turned its attention to Apple – offered its views on the iPod manufacturer, leading with statements that the company's brand "stickiness" is a boon, while also noting that there could be a delay with a new ultra-portable. According to AppleInsider, analyst Maynard Um clarified that the delay is unfortunate, but not unexpected for the tech industry, saying that such slips are "typical," with no cause for concern. Um states that the delay should be no more than the first half of 2009.
Jumsoft has released Money 3, featuring a new interface, with upgrades to inventory, invoice tools, budgets and reports. The financial application is geared towards personal and small-business accounting, with tools for financial management. Version 3 adds a new interface, with better design, grouping, use of color, display of commands and a new cover-flow view. New invoice styles have been added, with support for multiple currencies in financial math calculations.
Apple is expected to have a large boost to its revenue due to how profit from the iPhone 3G will flow, with some analysts predicting it would sell through between 35 and 40 million units by the end 2010, representing up to $4 billion for the company. CNN Money writes that while customers will pay around $200 less than the previous generation device, Apple still stands to make an extra $100 off each unit, due to larger subsidies with wireless carriers.
A lawsuit was brought against several key Apple executives on Friday, accusing CEO Steve Jobs and several others of fraud, in relation to the stock option backdating scandal in recent years. According to a filing with the US District Court in San Jose, Jobs stands with former financial officer Fred Anderson, as well as Nancy Heinen, William Campbel, Millard Drexler, Arthur Levinson, and Jerome York, in addition to the company itself.
Last reported in May, Virgin Mobile USA is set to absorb SK Telecom-owned Helio in a deal said to approach the former paying the Korean telecommunications firm almost $50 million, leaving SK holding 20-percent of company holdings. The Financial Times writes that the MVNO will dissolve its identity in favor of the more recognizable Virgin Mobile brand, and integrate its 200,000 users into Virgin's customer base of 5.1 million mobile users.
With concerns about Steve Jobs' health surfacing again after his gaunt appearance at Apple's World Wide Developers Conference earlier this month, Fortune has put together a list of 11 possible successors -- all of them from inside the company. While Apple has said Jobs made a complete recovery from a rare form of pancreatic cancer following surgery in 2004, it hasn’t stopped widespread speculation in the media, and may be impacting Apple’s stock price. So, it’s not surprising that even the old media financial press is asking who could fill Jobs' shoes. At the top of Fortune’s list: Jobs’ right-hand man Tim Cook, Apple's Chief Operating Officer.
IGG Software has announced iBank 3.1 the latest release of its personal and small business financial manager made exclusively for Mac OS X. Among the most important changes in the iBank 3.1 upgrade is the ability to preview direct downloads for matching transactions; users are alerted if a duplicate transaction has already been imported to iBank, or advised to proceed when no matching transaction is found. iBank's internal browser, which allows users to log in to online accounts without leaving the application, has been enhanced with improved page loading and more banks' websites available to users
