sale

Netflix to discontinue sales of used DVDs

Netflix plans to stop selling DVDs that were rented by subscribers, another step toward expanding its subscription focus from DVDs rented by mail to include movies streamed over the Web.

In a Netflix blog posting Monday, the company announced that it would discontinue sales of previously viewed DVDs on November 30:

As you know, our core business is delivering great movie rentals to you on DVD by mail and instantly to the computer and TV, so we've decided it makes sense for us to focus exclusively on that. This means we will stop selling previously viewed DVDs through the … Read more

Circuit City to close 155 stores

Circuit City Stores announced Monday it plans to close 155 stores and lay off 17 percent of its workforce in the U.S., as it aims to restructure its business amid a tightening credit market and downturn in business.

Over the past few weeks, the retailer's financial health has become more dire and, according to a report in The Wall Street Journal, was considering restructuring moves as a means to avoid a Chapter 11 reorganization bankruptcy filing.

The struggling electronics retailer noted in its announcement that not only have its sales dropped amid an economic slowdown and loss in … Read more

Microsoft: We'll fare better in recession

While its crystal ball is no clearer than anyone else's, Microsoft Chief Financial Officer Chris Liddell told financial analysts the company is committed to faring better than the overall IT industry, whatever the economy brings.

The company, in its quarterly earnings report, lowered its growth outlook for the year, but not as much as some had feared. It is now forecasting at least a mild recession, as opposed the economic growth it once saw coming in the second half of its fiscal year.

At the same time, Liddell, in a call with analysts following the earnings report, pointed out … Read more

Microsoft earnings beat estimates, outlook lower

Microsoft on Thursday reported first-quarter earnings that narrowly topped estimates, while saying that it expects the holiday season results to be slightly lower than analysts were projecting.

The company lowered its estimates of both PC and server growth by a couple of percentage points, but said it continues to see relatively healthy enterprise demand.

"There are indications out there that business is fairly strong, but there is also concern about what could happen," Chief Accounting Officer Frank Brod told CNET News.

For the quarter that ended September 30, the software maker said it earned $6 billion, or 48 … Read more

89: New Prius unveiled--by accident?

Chrysler on the block again? New Prius unveiled by accident, cell phone technology blocks calls while you drive, and a run in the Challenger SRT8! Listen now: Download today's podcast SHOW NOTES

• New Prius photos revealed

• Chrysler to be sold, broken up?

• DriveAssist kills your phone while you are driving

• New adapter makes latest iPods and iPhones work in your car

• New window tint film friendly to wireless devices

Wall Street slices eBay earnings estimates, targets

Investors pushed eBay's stock down for a third consecutive day Thursday, after the e-commerce giant reported third-quarter earnings and reduced its fourth-quarter forecast amid a meltdown in the economy.

Shares of eBay fell as low as $13.69 in intraday trading, down 12 percent from Wednesday's close. But by the market's close, eBay's shares were down a mere 2.35 percent to end the day at $14.97, as the broader markets closed out with gains.

Earlier in the day, eBay's shares were whacked as Wall Street weighed in, with a number of analysts reducing … Read more

Gartner and UBS provide a mixed view on IT spending

Growth in information technology spending next year is expected to go from a modest uptick to a virtual blip, according to a report released Monday by Gartner Research. Meanwhile UBS Securities predicts a more dire outcome.

IT spending is expected to grow 2.3 percent next year, a figure that's down from earlier projections of 5.8 percent growth, according to Gartner. The lowered forecast comes as the markets have been whacked particularly hard over the past two weeks and the credit market has tightened.

"Developed economies, especially in the United States and Western Europe, will be the … Read more

Will a sluggish economy mean slower mobile sales?

At least two analyst groups have cut their forecasts for global cell phone sales for the coming year due to consumer concerns about the economy.

UBS analyst Maynard Um told Reuters he's cutting his forecast for growth in the sector in half, from 6 percent down to 3 percent, with the North American and European markets being particular slow. JPMorgan analyst Ehud Gelblum cut his forecast as well, from 8.1 percent to 6.1 percent. He also cited Europe as being especially sluggish, and said he expects to see "more modest" growth in China, the report … Read more

MySpace nabs Yahoo sales exec

Another high-level Yahoo employee has left the building: Valeh Vakili, director of U.S. sales operations, will join News Corp.'s MySpace as senior vice president of sales strategy and operations.

At Yahoo, Vakili was in charge of integrating the sales teams from acquired properties like Right Media into Yahoo's own; at MySpace she will be in charge of the social network's account management team. Vakili will remain based in New York. (MySpace's headquarters are in Los Angeles.)

Yahoo's "executive exodus" has been well-documented, with dwindling search share and a disastrous takeover bid from … Read more