Someone on CNN’s iReport.com, a site where users post unfiltered news as “citizen journalists”, posted a story that Apple chief Steve Jobs had suffered a massive heart attack and had been hospitalized.
Right after the post hit Apple’s stock price fell nearly 10%, forcing Apple to respond saying that it was not true and Jobs has not been hospitalized.
The story has since been pulled from iReport and Apple shares are back to almost the same level as before the “news” hit.
Sure, Apple has a link to let you check the iPhone 3G inventory every night after 9pm, but some people are finding out the end-of-day inventory isn’t necessarily a good indicator of what their local Apple store will have in stock the next day. Sure, you can see what they have left at the end of the day, but what you can’t see is which stores get stock throughout the day.
Luckily a new website is there to help.
If you’re trying to track down the elusive iPhone 3G this site might be worth a try.
When the Apple iPhone was first released in the US it quickly sold out as Apple tried to keep up with demand. There were soon more than enough iPhones to meet demand and the handset became pretty easy to come by.
Looks like things have changed and the iPhone shortage that has started hitting other parts of the world have now turned on New York where an anonymous Apple Store employee at the West 14th Street location said “it’s been out of stock all week.”
The supply channel is likely drying up because the updated 3G version of the iPhone is expected pretty soon and production is slowing on the current model, but with the new version not expected before June some shoppers might have to decide whether to line up to try and find an iPhone or a Nintendo Wii.
After Microsoft withdrew their bid to acquire Yahoo, there were apparently high-fives in the Yahoo boardroom. They had weathered the storm.
Not so happy.
After Yahoo’s stock dropped on Monday, several prominent investors expressed their dissatisfaction with how Yahoo CEO Jerry Yang and the board handled things, forcing Yang to backpedal.
“We did not say it was a take-it-or-leave-it number in the sense that we would never negotiate any more,” said Yang, referring to the $37 per share figure. “We were totally willing to do a transaction, and they walked away.”
Capital Research Global Investors portfolio manager Gordon Crawford told the Wall Street Journal “I’m extremely disappointed with Yang…I think he overplayed a weak hand.”
A Yahoo board member was allegedly overheard venting on a telephone call about Yang’s performance saying “I’m done with this ego trip shit, he’s out.”
After Microsoft’s announcement that it was officially withdrawing its bid to acquire Yahoo and that it would not attempt a hostile takeover, shares of Yahoo fell 22 percent ($6.34) to $22.33 in premarket trading.
In Frankfurt, Germany, two hours before trading opened in New York, shares of Yahoo had falled 18.6 percent to 14.74 euros ($22.79 US).
On the flip side, Microsoft’s shares rose 4.3 percent to $30.50 in premarket trading.
S&P equity analyst Scott Kessler says that “this squarely puts the pressure on Jerry Yang to deliver results and shareholder value..you are going to see a lot of shareholders just throwing in the towel because they are going to realize it’s going to take a while for the stock to get back to where it was Friday.”
“Clearly there’s frustration,” said Darren Chervitz, co-manager of the Jacob Internet Fund, which owns Yahoo stock. “I am not even sure if Yahoo cares about its shareholders because they didn’t show much regard for shareholders’ best interests in this process.”
More fallout is likely still on the way as Yahoo will likely face more lawsuits from shareholders.