Business Briefing
AMD beats estimates on PC rebound
Advanced Micro Devices Inc. reported first-quarter sales that beat analysts’ predictions, adding to evidence that personal-computer demand is increasing.
Revenue at the Sunnyvale, Calif., technology company rose 34% to $1.57 billion, AMD said.
Analysts had estimated $1.54 billion on average, according to a Bloomberg survey.
Net income was $257 million, or 35 cents a share, helped by an accounting change. That compares with a loss of $416 million, or 66 cents, a year earlier.
Activision raises its projection
Activision Blizzard Inc., the world’s largest video game publisher, said first-quarter results beat its forecast on demand for titles including World of Warcraft and raised the full-year projection.
The company is “tracking ahead” of a February forecast for profit of 2 cents a share on sales of $525 million, excluding items, Santa Monica-based Activision said. Analysts had expected 3 cents on that basis, on sales of $539 million.
Full first-quarter results will be announced May 6.
TOURISM
Icahn to appeal Trump ruling
Carl Icahn is not going away quietly.
The billionaire investor, who lost out this week on a bid to buy the three Trump Entertainment Resorts casinos in Atlantic City out of bankruptcy, says he’ll appeal the ruling.
A lawyer for Icahn said the judge made “fundamental errors” in her ruling Tuesday.
The judge sided with bondholders and Donald and Ivanka Trump, who bid $225 million for the casinos. Icahn, who holds the $486-million mortgage on Trump Entertainment Resorts, wanted to swap that debt for ownership of the company.
THE ECONOMY
Unexpected rise in jobless claims
The number of Americans filing claims for jobless benefits unexpectedly increased last week, indicating that the improvement in the labor market will take time to unfold.
Initial jobless applications increased by 24,000 to 484,000 in the week ended Saturday, the highest level since Feb. 20, Labor Department figures showed. A Labor Department spokesman said the rise in claims was due more to administrative factors reflecting volatility around Easter than economic reasons.
The four-week moving average of initial claims, a less volatile measure than the weekly figures, increased to 457,750 last week, from 450,250.
TECHNOLOGY
Israel bans iPads temporarily
Israel has banned imports of Apple Inc.’s hottest new product, the iPad, citing concerns that its wireless signals could disrupt other devices.
Customs officials said they have already confiscated about 10 of the lightweight tablet computers since Israel announced the new regulations this week.
The ban prevents anyone -- even tourists -- from bringing iPads into Israel until officials certify that they comply with local transmitter standards.
SAFETY
Database to list product warnings
When a consumer claims an injury or cites a potential hazard from a baby stroller or some other product, the government wants you to know about it.
The Consumer Product Safety Commission has voted 3-2 to begin hammering out the specifics for a searchable database, SaferProducts.gov, that will cover thousands of products, including cribs, power tools and air fresheners.
The cost is estimated at $20 million and provides for a major technology upgrade at the commission.
-- times wire reports
