Goldman Sachs: Sell Yahoo

Goldman Sachs (NYSE:GS) recommenced its coverage of Yahoo (NASDAQ:YHOO) with a Sell rating and a suggested price target of $14, citing deteriorating fortunes of its core business, even though it sees value on the company’s balance sheet. “While there is significant value on Yahoo’s balance sheet, we don’t expect management will be able to unlock it to shareholders’ benefit before Yahoo’s core business deteriorates further,” Goldman said in its analysis.

The internet has seen a 5% rise, year-on-year, in global minutes/user, whereas, in contrast, Yahoo has declined 5%, with usage down in its key segments such as search, mail, and entertainment. According to Goldman, search is a vulnerable area for Yahoo, even considering Microsoft’s one-year extension of its minimum revenue per search guarantee

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Kodak Shifts Focus, Zooms In On Commercial Printing

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The photography pioneer Kodak has been dogged by bankruptcy rumors, its stock has tumbled, and its cash reserves have shrunk. But the company says it expects a strong fourth quarter as it fights toward profitability in 2012.

The New Kodak   

“We expect a very good fourth quarter,” said Kodak CEO Antonio Perez.

“All four of our digital growth businesses will expand in the fourth quarter,” Perez said.

But none of those are camera businesses. Kodak even recently sold off its image-sensor division, reportedly for a couple hundred million dollars.

Kodak has long been in the process of a painful transformation that’s seen tens of thousands of Kodak workers in the Rochester area lose their jobs.

When Perez talks about the company’s “digital transformation” and the “new Kodak,” he’s talking about four growth businesses in particular — three of which serve the commercial printing industry.

Perez says, “They will be the nucleus of the new Kodak. “In short, Kodak is becoming a company that makes high-end printing equipment — not a consumer staple whose brand once rivaled Coca-Cola’s in global ubiquity.

Mark Kaufman, an analyst who follows Kodak for Rafferty Capital Markets says: “This is an important quarter,because they’ve actually started to make some inroads in getting the cash on the balance sheet.” Kaufman expects Kodak to finish up the year in relatively decent shape.

An upcoming patent sale could net the company billions. Several of Kodak’s massive, $3 million printing presses will come online in Asia. Once they’re up and running, they run exclusively on Kodak inks and print heads. Kaufman even says a seasonal surge in movie film and catalog printing creates an inflow of cash.

“If you really think about who the end users are,” Kaufman says, “[they’re] more businesses than individual consumers.”

Of the four pillars of the “new Kodak,” only one — desktop inkjet printing — is consumer-oriented.

So long yellow film boxes…

 

iPad 3 Coming in February 2012: Citi

By Simon Constable

AP

As if anyone actually doubted it, the iPad 3 will be launched in February 2012, pretty much in line with the launch dates of prior models.

“Several sources have confirmed the timing of this launch and there do not appear to be any significant technical hurdles remaining (contrary to some recent press reports),” writes Richard Gardner, in a new report from Citigroup Global Markets.

This should put to rest certain Asian supply chain worries related to floods in Thailand that had put into question the launch date.

The new device will have dramatically better resolution: double the current level, in terms of dpi (dots per inch), he says.

WSJ: Ryan Seacrest May Replace Matt Lauer

 

NBC Universal is courting Ryan Seacrest as a potential replacement for Matt Lauer on the Today show, the Wall Street Journal reports. The paper says NBC News, Today show, and NBC network executives met with Seacrest on Tuesday about the possibilty of  him joining the morning talker. The discussions with Seacrest include multiple possibilities that might enhance his role within the broader corporate context at Comcast and NBC Universal. Seacrest’s existing deal with Comcast/NBCUniversal expires next year. He serves as host and producer of a daily news show on E! network as well as E!’s red-carpet specials. Seacrest’s prolific TV production company is also based at E! A Seacrest spokeswoman would say only that negotiations with NBC Universal were ongoing.

From Wall Street Journal

New Tiny Printer – Interesting or Toy?

Little Printer printing outLittle Printer lives in your home, bringing you news, puzzles and gossip from friends. Use your smartphone to set up subscriptions and Little Printer will gather them together to create a timely, beautiful mini-newspaper.

Little Printer holds a compact, inkless, thermal printer. Its zero-configuration wireless connection to the Web (via the Bridge unit, included) lets you place it wherever you have a power outlet. Little Printer is constructed in high-gloss injected moulded plastic and the brushed steel faceplate holds the paper, framing each delivery as it prints.

 

 

 

 

 

Linked In Factoids – Part 2

180,000 publishers are now using Linkedin's

 

80,000 publishers are now using Linkedin’s “Share” button

Pan Am Series – On the way out?

 

ABC’s November 18 order of one additional episode to freshman drama Pan Am stands. Back then, the network opted for a one-episode back order to the 1960s drama, bringing the first-season run of Pan Am to 14 episodes, but producer Sony Pictures TV didn’t accept the offer right away. The negotiations between the sides stretched into the holiday weekend and were still in full force yesterday.

To help shore up a full-season order, Sony added Steven Maeda as showrunner a month ago. In the end, the studio took ABC’s original offer and will produce one extra episode. This morning, one of the show’s stars, Karine Vanasse, tweeted that the cast and crew have “received THE call” and that “Pan Am is only coming back for one more episode after Christmas.”

As ABC stated back on November 18, it will make final decision on the fate of the show beyond its first season in May. On ABC’s midseason schedule, Pan Am is being replaced by new dramedy GCB on Sundays 10 PM beginning in March