Thứ Ba, 19 tháng 7, 2011

Business digest: Austin game developer confirms layoffs

Austin-based game developer confirms laying off workers
Austin-based game developer UTV True Games confirmed Tuesday that it has laid off workers, but did not say how many.
Don Choi, vice president of the company's online division, said in a statement that "a fraction" of the company's employees who worked on the online role-playing game "Faxion Online" were laid off.
Choi was not available for comment Tuesday and a spokesman didn't know how many employees were laid off. The company employed 53 people as of last fall.
The recently released "Faxion Online" will continue to run and "be updated frequently," Choi said. Another game, Planet Crashers, remains in development.
True Games' founder, Jeff Lujan, left the company months ago and was recently named CEO of the startup Digital Harmony Games.
Apple price, boosted by iPhone, iPad, leaps in extended trading
NEW YORK — Apple Inc.'s results trumped expectations for yet another quarter, with iPhone and iPad sales setting new records.
Its stock surged $19.85, or 5.3 percent, to $396.70 in extended trading after the results came out Tuesday. The stock was already at record highs.
The strong results show that Apple can deliver even with CEO Steve Jobs on indefinite medical leave. It was Apple's first full quarter since Jobs turned over day-to-day operations in January to the company's chief operating officer, Tim Cook. Jobs remains involved in major decisions.
Net income in the fiscal third quarter, which ended in June, was $7.31 billion, or $7.79 per share. That's more than double the $3.25 billion, or $3.51 per share, a year ago. Analysts polled by FactSet were expecting earnings of $5.82 per share.
Revenue was $28.6 billion, up 82 percent from $15.7 billion a year ago. Analysts were expecting $24.8 billion.
Bank of America reports $9.1 billion loss in 2nd quarter
NEW YORK — Things keep getting worse for Bank of America.
On Tuesday, the nation's largest bank reported a loss of $9.1billion during the second quarter, partly due to an $8.5 billion settlement with investors. That agreement, reached in June, settled claims that the bank had sold the investors poor-quality mortgage bonds. The bank had already announced several other settlements this year. The total so far to settle investor claims: $12.7 billion.
The large settlements and protracted losses related to mortgage loans are causing investors to worry about something bigger: Bank of America's overall financial strength. In a conference call to discuss the earnings report, analysts grilled the bank's executives.
At the top of their list of concerns was whether the bank will need to raise more money to comply with new international requirements that large banks hold more capital. If Bank of America needed to boost its capital reserves, it might look to raise more money by issuing more shares of its stock.

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