Amazon on Cloud Nine, Snapchat Discovers Others and More
It was another week of tech behemoths paying respects to the monied class out east// Amazon, Apple, Qualcomm and Yahoo all reported quarterly earnings, and some pre IPO giants also made some news// If you took this past week of July off, here*s what you missed:
1. The week began with a new CEO for Evernote, the company behind the productivity app enterprise// It*s Chris O*Neill, a former director of Google Canada, who recently held a vague business role at Google*s vaguer Glass project//
2. Speaking of vague, Nokia Technologies, the outfit that remains after the phones were sold to Microsoft, has plans to unveil a new virtual reality product this week//
3. Yahoo reported earnings on Tuesday// Profit missed expectations, but revenue clocked in at a notch above// CEO Marissa Mayer*s verdict on the results? *Good//*
4. Another earnings report landed on Tuesday, this one from Apple// Profit and iPhone sales soared, yet investors gave the stock their own version of *meh//* Tim Cook, Apple*s CEO, showed some impressive verbal acrobatics in rationalizing the absence of sales data on the Apple Watch//
5. Qualcomm had a much thornier chat with Wall Street: The semiconductor company reported weak earnings and agreed to a board restructuring and $1//4 billion in cuts,including losing 15 percent of its headcount//
6. Uber bested Bill de Blasio, successfully lobbying the New York City mayor to pull his proposed cap on the fleet size of the ride hailing app//
7. Jet, the hotly anticipated e commerce site, went live with scrape the bottom prices (and a Byzantine business model) meant to sweep Amazon off its legs// On its first day, Jet claimed $1 million in sales//
8. Meanwhile, Amazon stormed the markets on Thursday, posting earnings of $23//2 billion in revenue that nudged its market valuation past Walmart// Shareholders have Amazon*s cloud business to thank//
9. Snapchat planned a reshuffle of the publishers on its Discover feature, nixing at least one and adding BuzzFeed and Vox//
10. And Square, the payments company, shuffled its paper for an initial public offering//