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Google misses revenue target, ad prices slide

By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google Inc's first-quarter revenue fell short of Wall Street targets and margins narrowed as the price of its ads continued to decline, underscoring the challenges Internet companies face as the world shifts toward mobile devices. Shares of Google were down 3 percent to $539.80 in afterhours trading on Wednesday, after initially sliding roughly 6 percent on the news.

Mayer aims to persuade Apple to choose Yahoo over Google: Re/code

(Reuters) - Yahoo Inc's Chief Executive Marissa Mayer is working on a plan to persuade Apple Inc to ditch Google as its default search engine in favor of Yahoo, technology news site Re/code reported, citing sources within Yahoo. Mayer's effort is in advanced stages, with a detailed pitch already prepared for Apple executives, the website said. (http://link.reuters.com/hez58v) Yahoo senior vice president of mobile and emerging products, Adam Cahan, is working on the effort too.

Yahoo nominates three new members to board

(Reuters) - Yahoo Inc, which posted anemic first-quarter revenue growth, said it has nominated three new members to its board. The three members include billionaire Charles Schwab, namesake chairman and chief executive of discount broker Charles Schwab Corp. The other two are David Filo and Lee Scott, the company said in a statement. Filo, who is rejoining the board, co-developed Yahoo in 1994, the company said.

SanDisk sees solid-state drive bonanza boosting margins

By Noel Randewich SAN FRANCISCO (Reuters) - SanDisk Corp <SNDK.O> increased its outlook for gross margins in 2014 as fast-growing sales of its high-end solid-state drives helped offset volatile prices for memory chips. Shares of SanDisk rose more than 6 percent in after-hours trade on Wednesday after the chipmaker said that, because of an improved product mix, it was increasing its 2014 gross margin target range to between 47 percent and 49 percent. Its previous target range was 45 percent to 48 percent.

Google's first-quarter results miss analyst targets as company's mobile ad headaches persist

SAN FRANCISCO - Google's first-quarter earnings growth faltered as the Internet's most influential company grappled with a persistent downturn in advertising prices while spending more money to hire employees and invest in daring ideas. The results announced Wednesday fell below analyst projections. Google's Class A stock shed $17.10, or 3 per cent, to $546.80 in extended trading.

Google takes hit on growth disappointment

Google lost some of its luster Wednesday as quarterly results failed to meet lofty Wall Street expectations, sending its shares down sharply. The California tech giant said its first quarter profit rose 32 percent from a year ago to $3.45 billion. Chief executive Larry Page hailed "another great quarter" for Google, with revenue of $15.4 billion, up 19 percent year on year. "We got lots of product improvements done, especially on mobile. I'm also excited with progress on our emerging businesses," Page said in a statement.

IBM hammered on earnings slump

IBM reported a 21 percent slump in first quarter earnings Wednesday, as the computer giant saw weaker hardware sales and focused more on services and the Internet "cloud." Profits amounted to $2.38 billion on revenues of $22.48 billion. The results were largely in line with expectations, but in after-hours trade IBM stock slid 4.3 percent to $188. IBM said revenues from hardware sales including its big servers fell 23 percent, and posted an operating loss in part due to restructuring costs.

Google posts $3.45 billion first-quarter profit

Google said Wednesday its first quarter profit rose 32 percent from a year ago to $3.45 billion, in results below most Wall Street expectations. "We completed another great quarter. Google's revenue was $15.4 billion, up 19 percent year on year", said chief executive Larry Page. "We got lots of product improvements done, especially on mobile. I'm also excited with progress on our emerging businesses." soe/rl/sst GOOGLE

Google profits grow, but short of expectations

Google said Wednesday its first quarter profit rose 32 percent from a year ago to $3.45 billion, in results below most Wall Street expectations. Chief executive Larry Page hailed "another great quarter" for the tech giant, with revenue of $15.4 billion, up 19 percent year on year. "We got lots of product improvements done, especially on mobile. I'm also excited with progress on our emerging businesses," Page said in a statement. But Google shares tumbled 5.7 percent in after-hours trade to $556.64, suggesting that the growth was below investor forecasts.

King, SodaStream, Google, CSX and Bank of America big market movers

NEW YORK, N.Y. - Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE King Digital Entertainment Plc, up 60 cents to $18.03 The maker of the "Candy Crush" is partnering with China's messaging giant Tencent to showcase its hugely popular game. Yelp Inc., up $2.74 to $65.80 Citigroup upgraded the online reviews site after a share pullback, saying it sees the company well positioned for growth in mobile devices. Bank of America Corp., down 26 cents to $16.13
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