We’re half way through the week. This is your Mid-Week Market Rag from PRrag.com.
Microsoft unveiled plans to allow the world to create their own Xbox 360 games. XNA Game Studio Express will launch a beta on August 30 and become widely available in the fall. The premise is to allow basically anyone to create their own games using advanced technologies previously available only to larger companies and studios with big budgets and staffs.
The company has had a good week on the Nasdaq and is up again today.
Apple Computer risked delistment when they decided not to report their second quarter report on time and announced they would be looking into and possibly amending their financials as far back as 2002.
Conflict stems from internal stock option trading. The issue has created a negative buzz and generated masses of press coverage including a spotlight on Yahoo! Finance. Apple has requested a Nasdaq hearing, which will keep the stock listed in the mean time.
Apple’s stock tumbled when the news was released but has surprisingly rebounded and is up almost two percent in trading this afternoon.
Why no rush to sell as the company risks losing its listing? The answer is simple, Apple is not seen as the next Enron. Their crisis-management has responded well considering the circumstances. Apple has been fairly open about disclosing the problems, and their stock rebound reflects that.
Google has had a huge news week. Off the beaten path of news, Google has started providing unlimited free WIFI to the entire town of Mountain View, Calif., where the search engine mammoth sets up shop, as reported by the Wall Street Journal Online.
Also, as reported by PRrag, the News Corporation-owned portal, MySpace, has decided to use Google’s services for all their searching needs. Google stock is up over two and a half points today, but that is not even one percent of the $383 price per share Google enjoys.
Finally, in a power struggle, Dell has recalled over four million laptop batteries, representing the largest computer recall in the direct-order company’s and the American computing industry’s history.
Dell stock is up currently, however, because sales of its products are as well. The Associated Press reported booming sales of flat-panel screens and other electronics have sold well this year.
That’s the rag for this week. Story submissions are always welcome. Thanks for reading!