Story Stocks: Apple (NASDAQ:AAPL), Research in Motion (NASDAQ:RIMM), Hewlett … – Jutia Group
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By Guest Contributor, on June 16th, 2011 in Market Updates
Apple (NASDAQ:AAPL) recently introduced iMessage, a new service that lets users send text messages, photos and videos between all Apple devices. This could challenge Research in Motion (NASDAQ:RIMM) popular BlackBerry Messenger service, which has been a unique selling point as the company struggles to compete with Apple’s iPhone and smartphones using Google Android. Though RIM has 43 million active users, its has also been losing market share in the U.S. smartphone market for the last few months, with devices based on Google Android and Apple iPhone the main beneficiaries. According to a recent report from Comscore, RIM’s U.S. market share declined from around 30% in January to 26% in April 2011. -Daily Finance
Hewlett-Packard (NYSE:HPQ) sued Oracle (NASDAQ:ORCL) over claims that in a period of eight months Oracle went from partner to “bitter antagonist” and has breached its contract. The lawsuit, filed yesterday in state court in San Jose, California, cites Oracle’s hiring of Hewlett-Packard’s former Chief Executive Officer Mark Hurd last year and Oracle’s March announcement that it would no longer support its database software on Hewlett-Packard computer servers that use the Itanium chip. Oracle also has used “strong-arm tactics” in forcing customers to “shift from HP’s Itanium server hardware to Oracle’s own server hardware,” the suit said. -Bloomberg
Currencies were roiled in European trading hours Thursday as anxiety over Greece’s debt situation intensified, sending the euro tumbling to a fresh-all-time low against the Swiss franc, and denting other currencies seen as risky bets. The euro was recently trading lower at $1.4108 compared with $1.4177 late Wednesday in New York. The dollar fell to ¥80.702 compared with ¥80.97, while the euro was at ¥113.89 compared with ¥114.85. The pound was trading at $1.6121 compared with $1.6196. -The Wall Street Journal
The number of U.S. workers who filed new applications for unemployment benefits fell by 16,000 last week to a seasonally adjusted 414,000, the Labor Department said Thursday. Initial claims from two weeks ago were revised up to 430,000 from an originally reported 427,000. Economists surveyed by MarketWatch had expected initial claims to edge down to 425,000 in the week ended June 11. The average of new claims over the past four weeks was unchanged at 424,750. -MarketWatch
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