Google is selling its motorola handset business less than two years after buying it. They agreed to sell it for lenovo for just under 3 billion. Remember, google bought them for 12. 4 billion. Hold on a second. It is now selling for 2. 9 billion dollars. That sounds like a huge loss. Hubel has already sold the settop box business but would keep some of the patents, some 2000 patents and the trademark portfolio all going over to lenovo. Ok, there are some numbers over there. Does anybody have an envelope . At of the envelope, this is my personal stationary, and there is the math, and theyre all sorts of sources for this coming and we have got the 12 number. Take out cash. Take out settop, and there is the value of the patents. Then you have got the tax losses, carried forward, and here you have got the Cocktail Party in dominoes and all the other expenses, and you come out with actual profit. So what you are saying is that google did not lose money on this. No way. And this is a good de
Close of trading reporting revenue beating analyst estimates. Facebook saw mobile Advertising Sales on the Largest Social Network surpassing those of desk top promotions for the first time. Qualcomm also out with its earnings. They reported fiscal First Quarter profits topping estimates. A profit of about 1. 26 per share. Bernanke in the central bank announcing they will trim monthly bond buying to 65 billion. The dow falling 189 points. Those are the top headlines at this hour. Back to you. Thank you, carol massar. Top Technology Headlines facebook, lenovo, and microsoft making news. Lets bring in bloomberg editor atlarge cory johnson. It feels like a triple tech play into one person. Thats because im three times taller. I was not going to mention. Ok. Go ahead. Tell me about the news regarding lenovo. Lenovo purchasing Motorola Mobility from google . It seems strange google getting into the business but it was first thought they were largely trying to get the patents. Moto x phones a
But chinese manufacturing numbers, price contraction more than expected. It is not going to actually help sentiment this morning. When it is good, no one believes. When it is bad, people really believe. We will have to see whether there is a read across into commodities. We also have gdp from spain pretty much as expected. Gaining 0. 3 in the fourth quarter. Staying on corporate news, hans, youre talking tech. A big deal for to lenovo and google. Normally when we talk about cool, we talk acquisitions. Today we are talking sales. They have sold or plan to sell their motorola handset unit to lenovo. We will look at both sides of the deal, who got what and what it means for both Companies Moving forward. Thank you so much. We will have plenty more throughout the program. Caroline, we have figures from shell and ericsson, roche and h m. Keep an eye on h m. This is a company that has been hit by foreign currency weakness in emerging markets. Profit missed analyst estimates. They did rise sl
We know a lot more people are purchasing their items with plastic. That helps greg that helps the south. They get paid a little bit every time, so when they get back plastic swipe. The forwardlooking encouraging for investors. That is interesting was Time Warner Cable because on the metrics, everything looks great. Earnings per share beating analysts estimates. Plenty of cash being generated by Time Warner Cable, people like their dividend stocks right now. The question here is why did the companys Subscriber Base start falling . This is something were seeing quite a bit from Time Warner Cable. It is not the most loves company. A lot of customers complaining about the service, yet these eddie cash flow has attracted the catch the interest of Charter Communications. We talk about things that might be happening with netflix and so on and people not really using stable Cable Services for all the channels that they can see. I wonder if we are starting to see this with Time Warner Cable . Y
Im francine lacqua. Coming up super bowl scandal. An ad vert that is stirring up a storm. H m is gunning for a touchdown. We will see if the new David Beckham campaign will help the retailer. Buyingfed trimmed bond segue. If you have a good way so the fed is pushing global stocks lower. To break it down, lets bring in manus cranny and jonathan ferro. A statement. The statement focuses on the labor market. Its mixed, ok . And growth has picked up. It is the first nonconsenting Federal Reserve. I think that is important. This is a Federal Reserve thta at going into the tenure of janet yellen and the potential to step back from tapering. Its pretty darn high. The view from citigroup is that hasta la vista, baby. That is what the fed is saying to emerging markets. Excuse the pun. I liked it. Worry about yourself. It makes sense. That is what the mandate of the centralbank is. Emerging markets not too happy. Manus talking about the unanimous decision. At this point, you have to say points t