Daily Dispatch: Apple, Lehman Brothers, Intel, and Retail Losses

Last Updated Jun 12, 2007 1:31 PM EDT

  • At Apple's World Wide Developers Conference yesterday, chief executive Steve Jobs unveiled a near-final version of the Leopard OS X operating system and announced a new version of its Safari Web browser that will run on Windows. The move reignites the Windows-Mac browser wars of the 1990s, and indicates a broader strategy to grow Apple's 5 percent share of the computer market.
  • Lehman Brothers today reported a 27 percent spike in its second-quarter earnings, netting $1.27 billion. More than half of its $5.5 billion in revenue came from international investments, and strength in asset management and equities trading helped offset a 14 percent decline in sagging U.S. bond-trading revenue. These results are the latest in a four-year string of stellar performance, with revenue growing at a 31 percent annual rate since 2003.
  • Intel plans to cut chip prices in half at the end of July, according to documents given to the company's clients. The price cut will affect Intel's Core 2 Quad processor and marks an aggressive strategy to regain market share from AMD, which makes the Barcelona and Phenom quad cores. AMD's share of the desktop processor market rose nearly 6 percent last year to 26.6 percent, while Intel's fell more than 5 points to 71 percent.
  • A survey released yesterday by the National Retail Federation and the University of Florida reports that retail losses from theft, error, and fraud amounted to $41.6 billion last year, up from $37.5 billion in 2005. Retail sales rose overall, however, and the percentage loss rate, or "retail shrinkage" rate, remained constant at 1.6 percent of sales.