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October 20, 2012

thedailyfeed:

Oops! Google hit “send” a little too early yesterday, causing a massive market blunder.

In a matter of minutes, the search-engine giant shed almost $20 billion in market value when R.R. Donnelley & Sons, the company in charge of its financial filing, published Google’s disappointing earnings report hours ahead of schedule.

The announcement would have weighed on the stock anyway, but releasing the news when markets were open spurred a frenzy of bearish trading. Stock market operators have built-in circuit breakers for shares that swing wildly, but Google reportedly requested that Nasdaq freeze its shares, which the platform did briefly.

“(Google) doing a Felix Baumgartner,” tweeted Joe Donohue, a professional investor using the handle @UpsideTrader.

The precision and care that must go into protecting a publicly traded company’s market value is nothing short of amazing, and not just because of the competition — as some poor folks at Google are now reflecting on, one mistake can cause a big hurt.

(via thedailyfeed)

14:13 // 1 year ago
April 26, 2012

Lowered 3DS and Wii pricing decimates Nintendo’s earnings

  • $461.2 million lost during its 2011 fiscal year  source

» It’s been over 30 years since the company posted a loss, and the first such occurrence since the company began releasing earnings statements in 1981. Last year’s forty-percent price drop for the 3DS cost the company millions; however, Nintendo believes the portable gaming-system will become profitable again during 2012. It should also be noted that, prior to 2011, the Wii essentially acted as Nintendo’s license to print money. The ultra-popular gaming device has earned the company close to a billion dollars, annually, since its release in 2006. Now, all eyes are focused on the Wii U, the spiritual successor to the Wii, which is scheduled to launch later this year with an all-new touchscreen controller.

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14:06 // 1 year ago
April 19, 2011

That was a big loan: Goldman Sachs just paid back Warren Buffett

  • $5
    billion
    the amount Warren Buffett loaned to Goldman Sachs at the nadir of the financial crisis back in 2008; wish we could loan out that kind of cash
  • $5.64 billion the amount they paid Warren back last quarter, including interest earned — that’s on top of dividends they already paid out source

» A pretty hefty one-time charge: While Goldman Sachs’ profits for the current quarter, $2.74 billion, were down 21 percent from a year earlier because of the payday to their sugar daddy, if you don’t count the payment to Warren, their profits — $8.38 billion — would have been up by 49 percent from a year earlier. In other words, they’re richer than we are and Wall Street is celebrating.

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11:04 // 3 years ago
October 14, 2010

Based on its profits, Google’s freewheeling spending warranted

  • $2.17 the size of Google’s profits this quarter
  • 25% boost in Google’s overall revenues last quarter – not bad, considering all that extracurricular spending
  • 9% jump in stock price on the news; put that in your self-driving car’s tailpipe and smoke it source
20:57 // 3 years ago