07:27 AM

Newswatch 7.19.07: GOOG disappoints, as sector looks rosy

GOOG profit up 28%, stock price down

[NYT] If there was any doubt that Google was serious about going after the software business, Mr. Schmidt dispelled them during the company’s annual shareholder meeting in May. “Our next strategy evolution is to really think about three components — search, ads and apps,” Mr. Schmidt said.

MSFT profits edge up 7 percent

[AP] The world's largest software maker said Thursday its earnings for the three months ended June 30 climbed to $3.04 billion, or 31 cents per share, from $2.83 billion, or 28 cents per share, during the same period last year. Results were weighed down by a charge of $1.06 billion, or 8 cents per share, related to the video game console repairs.

AMD profits down in 2Q

[AP] Advanced Micro Devices Inc. reported a loss in the second quarter as heavy acquisition costs and lower microprocessor prices overshadowed rising chip sales.
But shares of AMD, the world's No. 2 microprocessor maker, rose almost 5 percent Thursday in after hours trading as sales exceeded analyst expectations and the company said it hopes to break even in the fourth quarter.

Outlook good for tech earnings

[InfoWorld] With shares of major technology companies trading as high as they have ever done in the post dot-com era, IT investors this week are scrutinizing quarterly results from the world's biggest vendors to judge how the market will hold up for the rest of the year.

Facebook acquires yet-to-launch Parakey

[Mashable] Facebook is announcing today that it has acquired Parakey, the startup created by Firefox co-founders Blake Ross and Joe Hewitt. Parakey is an open source web OS that bridges the gap between the desktop and the web.

Harry Potter leaks online

[Digital Media World] Days before its release, "Harry Potter and the Deathly Hallows," the anticipated final novel in J.K. Rowling's series, has appeared on file-sharing networks and some websites in the form of digital photographs taken of the book's more than 700 pages.

AT&T softens position on open access frequency

[InfoWorld] AT&T Inc. has backed away from earlier complaints about proposed open-access rules on parts of the 700MHz spectrum to be auctioned by the U.S. Federal Communications Commission by early next year.

GOOG cookie-light plans: 'Worthless'

[ComputerWorld] "No users will experience any gains in privacy at all due to Google's change in policy," said Randy Abrams, director of technical education at ESET, a vendor of antivirus products in San Diego. "It's not a bad idea. It's just a worthless one. [Google's announcement either] demonstrates a complete lack of understanding about the role cookies can play in privacy, or else utter contempt for the intellect of Google users."