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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Facebook: No Guidance, No Problem, Analysts Say

Category : Business, Stocks

NEW YORK (TheStreet) — Facebook shares tanked today after the world’s largest social-networking company said revenue growth slowed in the second quarter and didn’t give much of an outlook for the rest of the year.

Plenty of analysts, though, remain bullish on the company.

“Lack of forward guidance put pressure on shares,” Sterne Agee analyst Arvind Bhatia said in a note. “However, we think Facebook’s market opportunity remains large and the stock should be a core holding in tech portfolios with a long-term horizon.” …

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AppSense: We Could Be The Next VMware

Category : Business, Stocks

NEW YORK (TheStreet) — Virtualization specialist AppSense may not be as well known as VMware, but the Goldman Sachs-backed company says it could become equally successful.

“Could we be the next VMware? The next Citrix? Absolutely, we believe we could,” said AppSense CEO Darron Antill in an interview with The Street. “Our ambition is to remain independent and be a leading independent software company of the decade in the user virtualization space.”

This may seem like a bold claim, but AppSense has already garnered plenty of positive attention. Last year, the company received $70 million from Goldman Sachs — Goldman’s largest technology investment other than Facebook, which raised $450 million from the bank. …

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David Einhorn Folds ‘Em: Dell, Best Buy Gone

Category : Business, Stocks

NEW YORK (TheStreet) –”You gotta know when to hold ‘em. Know when to fold ‘em.” — Kenny Rogers.

Hedge fund manager and part-time poker player David Einhorn has followed that advice, cutting his positions in Best Buy and Dell, he told investors in a letter today.

The Greenlight Capital manager, known for his short positions in Lehman Brothers and Green Mountain Coffee Roasters, noted that the investments in the two companies underperformed, and it was time to move on. …

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Stocks Sunk by Underwhelming Earnings, Data, Europe Worries

Category : Business, Stocks

NEW YORK (TheStreet) — The major U.S. averages endured an ugly session Tuesday with sentiment soured by a batch of tepid business and economic reports from around the globe, disappointing corporate results and ongoing eurozone concerns.

The risk-off action pushed the yield on the 10-year Treasury bond to a new historic lows under 1.4%. Stocks found some buyers just ahead of the closing bell though, allowing the major U.S. equity indices to bounce off their worst levels of the day.

The Dow Jones Industrial Average fell 104 points, or 0.82%, to close at 12,617. The session low was 12,522. It was the third consecutive triple-digit decline for the blue-chip index, which is still up 3.27% so far in 2012. …

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SanDisk, AMD, Zynga: Tech Winners & Losers

Category : Business

NEW YORK (TheStreet) — SanDisk was one of the largest gainers in technology, soaring 14% to $39.97, on unexpectedly strong second-quarter earnings.

The Milpitas, Calif.-based company reported earnings of 21 cents per share on $1.03 billion of revenue, beating the estimates of analysts polled by Thomson Reuters, who were looking for 18 cents a share and $1.02 billion in revenue. CEO Sanjay Mehrotra expressed a positive outlook for the remainder of the year.

“We believe that strengthening industry fundamentals and our expanding portfolio of solutions will contribute to improving financial results in the second half of 2012,” he said on the company earnings call. …

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Stocks Close Positive Week on Down Note

Category : Business

NEW YORK (TheStreet) — U.S. stocks finished sharply lower Friday as soaring Spanish borrowing costs renewed concerns about Europe’s debt crisis.

The sour market mood prompted a broad decline across risk asset classes as well as a sharp spike in bond prices with the five-year Treasury yield touching a record low. The latest round of earnings reports were mixed as well, lending little support for equities. Still, the major indices did finish higher for the week.

The Dow Jones Industrial Average shed 121 points, or 0.93%, to close at 12,823. The move pushed the blue-chip index back into negative territory for the month. For the week, though, the Dow rose 0.36%, and the year-to-date gain sits at 4.95%. …

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Intel Goes Dutch With $4.1B ASML Deals

Category : Business

NEW YORK (TheStreet) — Intel has announced a series of deals totaling $4.1 billion with semiconductor manufacturing specialist ASML Holding N.V as the chip maker looks to boost silicon manufacturing.

As part of the agreement, Intel is investing around $1 billion in ASML’s R&D over five years, and will eventually take a $3.1 billion, 15%, stake in the Netherlands-based firm.

The first phase of the program, which is pending regulatory approval, sees Intel committing around $680 million to R&D funding to help ASML speed up its delivery of 450-millimeter manufacturing tools. Intel will also make an equity investment of $2.1 billion for around 10% of ASML’s pre-transaction issued shares. …

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Groupon, Microsoft: Tech Winners & Losers (Update 1)

Category : Stocks

Updated from 11:32 a.m. EST to provide closing prices.

NEW YORK (TheStreet) — Groupon’s shares suffered after Chairman and Co-founder Eric Lefkofsky said in a blog post that he plans to step back from day-to-day work with the company so he can dedicate more time and attention to his venture-capital firm, Lightbank.

“I look forward to continuing to work with Groupon CEO Andrew Mason in my ongoing role as Chairman of the Board, but in the meantime, I’ve immersed myself in Lightbank and am focused on growing the company and working with Managing Partner Brad Keywell and the rest of the Lightbank team to try to define what it should be as it matures,” Lefkofsky wrote. …

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Apple’s Stock Touches $600 … Again

Category : Business

NEW YORK (TheStreet) — Apple’s stock topped $600, a level not seen since April 27.

Shares of Apple have gained about 6% since June 25, when they closed at $570.77. Since that time, the value of the Cupertino, Calif.-based technology giant has risen by $34 billion to $560 billion, making it the largest company in the S&P 500. No. 2 is oil company Exxon Mobil, with a market cap of $402.6 billion.

Since the beginning of the year, Apple shares have gained 48%, far outpacing the 14% return of the Nasdaq. They’re up about 1% today. …

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Stocks Plunge Ahead of Eurozone Summit

Category : Stocks

NEW YORK (TheStreet) — Stocks fell sharply Monday morning as a better-than-expected new home sales report failed to mollify investor anxiety about the potential outcome of the eurozone summit later this week.

The Dow Jones Industrial Average was shedding 153 points, or 1.21%, at 12,484. The S&P 500 was down more than 20 points, or 1.51%, at 1315, and the Nasdaq was plunging 50 points, or 1.73%, at 2842.

The Commerce Department reported Monday the U.S. new-home sales rose more than expected in May to a seasonally adjusted annual rate of 369,000 — the best levels going back to April 2010. …

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