Yahoo earnings fall; N.C. Solar Center's new name; Novartis-Google 'Glass' contacts; Cree expands; Sling's new devices
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Research Triangle Park, N.C. — In today's Bulldog wrapup of technology and life science news:
- Yahoo takes a hit
- N.C. Solar Center gets a new name
- Novartis teams with Google for "Glass" contacts
- Cree adds space
- Sling's new devices.
- Yahoo 2Q Earnings, Revenue Fall
NEW YORK — Yahoo Inc. said Tuesday that its second-quarter earnings and revenue declined, as the company struggled again with display advertising sales.
Both fell short of Wall Street's expectations, as did revenue forecast for the current quarter, causing the limping Internet icon's stock to fall in extended trading.
Before the forecast was revealed during a conference call with analysts, Yahoo's stock rose as the company announced that Alibaba Group agreed to reduce the number of shares Yahoo is required to sell in the Chinese e-commerce company in an initial public offering of stock this year. Yahoo, which holds a 23 percent stake in Alibaba, now has to sell only 140 million shares in the IPO, down from 208 million earlier.
- New Name for NCSU Solar Center
RALEIGH - After 25 years, the N.C. State Solar Center has a new name that reflects a broader mission.
It's now called the N.C. Clean Energy Technology Center.
Check out the new website and details on the announcement, which was made Tuesday:
Here's the site: http://nccleantech.ncsu.edu/
- Novartis, Google Team for "Glass" Contacts
WASHINGTON, D.C. - Google will work with Novartis to develop what it calls "smart contacts" that target people who need reading glasses and help diabetics read glucose monitors.
USA Today first reported details of the project on Tuesday.
"These are issues that have been unmet medical needs for quite some time," Novartis CEO Joseph Jimenez told the newspaper.
Novartis' eye-care division Alcon will work with Google X, Google's development lab, on the project.
- Cree Adds Warehouse Space
DURHAM - Cree is adding to its physical footprint in Durham, leasing an additional 80,000 square feet of warehouse space.
However, the company won't be adding more than a job or two if any, the company told the Triangle Business Journal.
- Sling Media Unveils 2 Devices for Out-of-Home TV
NEW YORK — Sling Media, the maker of devices that let people watch their cable channels while traveling, is trying to become more relevant in the living room.
Traditionally, Sling's strength has been in so-called place shifting. Attached to the home cable box, the Slingbox device sends video to various phones, tablets and other devices. If you're on a work trip in Boston, you can still catch the local news in New York live on a SlingPlayer app. You can also use that to watch shows on your home video recorder.
Inside the home, though, the Slingbox hasn't been of much use beyond letting you watch from a phone or tablet in another room.
Sling is trying to change that with a model announced Tuesday. The new SlingTV is identical to the Slingbox 500 currently on the market, but with new software to recommend things to watch. On the living-room TV, you can see scores and stats for games currently on TV, along with a guide to what's exciting at the moment, such as a team making a comeback. The new software will also give you more information on movies and TV shows.
The new feature incorporates some of what's already found on TiVo recorders and cable set-top boxes. Because the box still can't record shows, the Slingbox's biggest appeal will likely remain in remote viewing — both when traveling and on devices in other rooms.
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