Could Microsoft's Surface Be An iPad Killer? - and Other News Told in Charts
Microsoft (MSFT) introduced its first-ever Windows tablet -- Surface -- at a choreographed corporate event in Los Angeles yesterday. The new tablet is a big departure for Microsoft, which is getting pummeled in the mobile space by Google (GOOG) and especially Apple (AAPL) and now risks alienating hardware-making allies Dell (DELL) and Hewlett-Packard (HPQ). So how’s this thing look? Seems fine: the cover cleverly becomes a keyboard and touchpad, and it has a full USB port. But based on early reviews from the likes of CNET, it doesn't look like an iPad killer. That's unfortunate for Microsoft, which needs it to be just that:
JC Penney President’s Out
The grand plan to transform dowdy JC Penney into America’s favorite retailer is not going well. Latest evidence: JC Penney’s (JCP) president, Michael Francis, is out after only eight months, leaving with his $9 million signing bonus. The company gave no reason for his departure, says Reuters. But unless there’s some saucy scandal lurking, it really didn’t need to explain. Same-store sales tanked 19% in the first quarter, in May it reported a larger-than-expected loss of $163 million, and here’s what’s been happening to the stock:
Someone had to pay. Chief Ron Johnson, who created sleek Apple stores and Target (TGT) chic, will take over Francis’ duties.
Hey, Everyone’s Leaving – A Senior Oracle Exec, Too
Keith Block, who oversaw about half of Oracle’s (ORCL) business as head of North American sales, is out. The Wall Street Journal suggests this could be related to some instant messages he sent in which he criticized Oracle co-president Mark Hurd. The messages were made public in a lawsuit filed by Hewlett-Packard against Oracle. Lesson: when you want to complain about someone, pick up the gosh darn phone.
Jamie Dimon Returns To Washington, Brings Human Shields
JPMorgan Chase (JPM) chief Jamie Dimon is back in Washington Tuesday, well prepared for a House Financial Services Committee hearing about that $5 billion or so the bank’s traders lost using derivatives. He may have a couple fewer softball questions from lawmakers, but he’ll be appearing alongside regulators, including leaders of the Securities and Exchange Commission and the Commodity Futures Trading Commission, reports the New York Times. Here's how the stock has done since his last appearance on the Hill:
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