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Sony Has Big Plans For “Music Unlimited Powered By Qriocity”
Sep 1st
Sony Corporation (NYSE:SNE) today announced new plans for a digital music service that will run from the cloud.
The service, known as “Music Unlimited powered by Qriocity,” will be available by year end.
“Music Unlimited powered by Qriocity” will give music lovers access to millions of songs stored and synchronized through the cloud.
“Music Unlimited powered by Qriocity” will initially be available across Sony’s 2010 models of network-enabled BRAVIA TVs, Blu-ray Disc players, Blu-ray Home Theater systems, as well as PlayStation 3 computer entertainment systems and VAIOs and other personal computers, and will become increasingly available on a range of Sony’s portable devices.
Skechers Says Review Finds Shape-Ups Advertising To Be Accurate
Aug 26th
Skechers USA, Inc. (NYSE:SKX) today said that a new review finds Shape-ups advertising claims are accurate.
SKECHERS USA announced that an independent review Board said that Skechers Shape-ups advertising claims are accurate, truthful and “prepared with a due sense of social responsibility to consumers and society.”
In a related development, Skechers further announced that the United States Patent and Trademark Office this week issued Skechers a utility patent on its unique Shape-ups midsole technology, the part of the shoe which is key to imparting fitness benefits to users, including “muscle strengthening and toning, better posture, improved cardiovascular health, less stress on joints, and improved circulation.”
On August 10, 2010, the New Zealand Advertising Standards Authority stated in a ruling that “the claims in the Shape-ups advertisement regarding muscle tone, posture and weight loss had been substantiated by Skechers and therefore were not likely to mislead or deceive consumers.”
This is the second time in recent months that independent panels have made favorable rulings relating to the claims that Shape-ups tone muscle, improve posture and promote weight loss.
Apple TV Causing Excitement Again
Aug 26th
The Walt Disney Company (NYSE:DIS) and Apple Inc. (NASDAQ:AAPL) are closing in on a deal to rent ABC shows from iTunes, the Wall Street Journal said yesterday.
Apple is reportedly close to an agreement with Disney to offer rentals for some ABC television shows through iTunes, the Wall Street Journal said.
The move is the longest in an attempt by AAPL to reshape the television business around its devices.
However, sources say the proposed deal is already facing resistance from big TV companies like NBC Universal, News Corp, Viacom and CBS.
Apple is also said to be working on a new device that would allow users to stream video to their TV sets, a source with knowledge of Apple’s plans went on the record as saying.
Kaufman Bros is bullish about Apple TV moves.
They say Apple TV could be a multi-million unit seller.
After conducting checks, Kaufman Bros. said they believe Apple’s move to rent TV shows is logical and could increase iTunes volume.
The firm said it maintains a ‘Buy’ rating on Apple.
Bank Of America CEO Brian Moynihan Buys 30,000 Shares Of BAC
Aug 24th
Bank of America Corporation (NYSE:BAC) CEO Brian T. Moynihan has purchased 30,000 shares of company stock, Dow Jones reports.
Brian Moynihan, the CEO of Bank of America, has purchased 30,000 shares of company stock at around $13.03 each, Dow Jones reported.
Moynihan took over the helm at Bank of America at the beginning of the year from the embattled Kenneth Lewis.
Since then his takeover has taken root, but has failed to return the type of returns that Wall Street has looked for. This insider purchase could help signal that Moynihan is very confident about his turnaround plan.
Bank of America is still struggling with loan defaults and high unemployment due to being the country’s largest mortgage holder.
RadioShack To Buy Back $300 Million In Shares
Aug 24th
RadioShack Corporation (NYSE:RSH) today announced a $300 million accelerated share repurchase plan.
RadioShack Corporation announced that it has entered into accelerated share repurchase agreements with Bank of America N.A. (NYSE:BAC) and Wells Fargo Bank, N.A. (NYSE:WFC), to repurchase an aggregate of approximately $300 million of RadioShack common stock.
This repurchase will be made under the $500 million share repurchase program that was previously authorized by its Board of Directors. The ASR Agreements provide for final adjustments generally based on the discounted average of the volume-weighted average prices of the company’s common stock during the valuation periods of the respective ASR Agreements, which adjustments will affect the total amount expended by the company or the aggregate number of shares it repurchases.
Share buybacks are generally considered to be a good thing for investors because they cause the share price to rise over time.
For more information: please see The benefits of stock buybacks.
PepsiCo Quaker Oats Company To Intro Two New Cereals
Aug 24th
PepsiCo, Inc. (NYSE:PEP) Quaker Oats Company is planning on introducing two new hot cereal varieties.
Reflecting important changes in how Americans view breakfast in their lives, The Quaker Oats Company, which is a division of PepsiCo, announced a broad new direction for growth focused on products and programs designed to help people lead healthier lifestyles.
Quaker Oats Company will introduce two new hot cereal varieties and improvements for its category-leading instant oatmeal in stores nationwide this week.
Quaker Hearty Medleys Instant Multigrain Hot Cereal and Mix-Up Creations expand the hot cereal leader into new dimensions with products for both adults and kids.
California Pizza Continues Expanding In South Korea
Aug 20th
California Pizza Kitchen, Inc. (NASDAQ:CPKI) continues its expansion in South Korea.
California Pizza Kitchen opened its fourth location in South Korea. This new restaurant, opened by CPK franchise partner, Handuck Development, is located in Seoul, South Korea.
The new 3,000 square-foot restaurant seats approximately 110 people and is located in the heart of Northwest Seoul at Cheongyangri Station Mall.
Connected by the major train station, Cheongyangri Station Mall is a hub for both local commuters and visitors from surrounding cities as well as students from several nearby universities.
The newest restaurant is in close proximity to several of Seoul’s most favorite brands including Lotte Department Store, numerous other premium retail outlets and the CGV Movie Complex.
California Pizza Kitchen, Inc. is a casual dining restaurant chain with a particular focus on the pizza segment.
GE Capital Named Agent For Blount Credit Facility
Aug 20th
GE Capital, which is a division of General Electric Company (NYSE:GE) announced it is agent for a $425 million cash flow credit facility to Blount.
GE Capital Corporate Finance announced it is the administrative agent for a $425 million cash flow credit facility to Blount International, Inc. (NYSEBLT).
The loan amends and extends an existing $165 million facility and will be used to refinance debt and for acquisitions.
GE Capital Markets served as sole lead arranger for this transaction.
Blount International, Inc. is an international industrial company, with sales in over 100 countries.
Domino’s Pizza names Michael Lawton CFO
Aug 20th
Domino’s Pizza, Inc. (NYSE:DPZ) announced today they have appointed Michael Lawton to the position of CFO.
Domino’s Pizza announced that it named Michael Lawton to be both its new Executive Vice President and CFO.
Lawton at 51 years of age is an 11-year veteran of Domino’s Pizza, who has a proven track record as the head of its highly successful international business.
Lawton succeeds Wendy A. Beck in the position. She accepted a position as executive vice president and chief financial officer of Norwegian Cruise Lines, in Miami, Florida.
Beck will remain at Domino’s through a transition period, and work with Lawton.
Nokia To Buy Motally
Aug 20th
Nokia announced it was acquiring Motally Inc.
Nokia Corporation (NYSE:NOK) announced it has signed an agreement to acquire Motally Inc., which is a privately-held U.S.-based company.
Motally’s makes a mobile analytics service offers that offers in-application tracking and reporting, and is designed to enable developers and publishers to optimize the development of their mobile applications through increased understanding of how users engage.
The service offering can be adapted for Qt, Symbian, Meego and Java developer. Nokia plans to continue serving Motally’s existing customer base as part of the deal. Motally currently employs a team of eight people.
This particular transaction is subject to customary closing conditions and is expected to close during Q3 of 2010.