In today’s Bulldog wrapup of technology news:

  • Reddit bans some groups
  • Cary IT firm is sold
  • Apple’s shares rebound – a bit
  • Microsoft adds to benefits for new parents
  • Tesla’s loss mushrooms

The details:

  • Reddit updates content policy, banning a ‘handful’ of groups

Reddit, the online discussion site known for free-wheeling discussions, is updating its content policy as it tries to be a more welcoming place for everyone.

Co-founder and CEO Steve Huffman posted on the site Wednesday that the goal is to consolidate the “various rules and policies that have accumulated over the years into a single set of guidelines.”

He says illegal content, inciting violence and “involuntary pornography” are still banned.

So what’s new? A community can now be quarantined — so that only people who choose to see its content can see it. Huffman says groups will be quarantined if they would be “extremely offensive” to the average Redditor.

He says Reddit is also banning communities that exist solely to annoy others, and “generally make Reddit worse for everyone else.”

  • Cary IT firm is sold

Cary-based FileONE has been sold to New Zealand-based Foster Moore International.

The Triangle Business Journal’s Lauren Ohnesorge reports that Foster Moore will based its U.S. headquarters in Cary.

Financial terms weren’t disclosed.

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  • Apple slump deepens on iPhone, China concerns

Apple is slumping as the usually high-flying tech stock struggles with the burden of raised expectations.

The world’s most valuable public company saw its stock price drop for a fifth straight day on Tuesday, falling as much as $5.19, or 4.4 percent, to $113.25 as investors fret over China’s economy and whether Apple can keep growing at the pace it’s maintained over the last few quarters. Shares recovered a bit on Wednesday, finishing up 76 cents.

Apple shares closed Tuesday at $114.64 — down 14 percent since hitting a record $133.60 in February. That puts Apple in a “correction,” which is Wall Street jargon for price declines of 10 percent or more from a peak. The slide has wiped out more than $96 billion in market value.

The stock also dropped below its 200-day moving average, a technical indicator that traders use to gauge momentum. And as a sign of Apple’s outsized role in the market, its decline Tuesday accounted for more than half of the 47-point drop in the Dow Jones industrial average for the day. Apple is also by far the biggest component in the Standard & Poor’s 500, making up 3.6 percent of the index, which is a benchmark for most mutual funds.

Apple sold more than 47 million of its signature iPhones in the last quarter, or 35 percent more than a year earlier. That drove the company’s profit and earnings above Wall Street estimates. But demand for the iPhone and Apple’s new smartwatch still fell short of some analysts’ more bullish predictions, and executives gave a forecast for the current period that was also lower than some analysts expected. That has sent the stock into a decline since Apple reported earnings on July 21.

Shareholders are also worried about recent hiccups in China’s economy, because the country is viewed as one of Apple’s biggest markets for expansion, said Daniel Ives, a managing director and senior analyst for FBR Capital Markets.

  • Microsoft increases paid leave for new parents

Microsoft says it will offer more paid leave to new parents and increase other benefits for U.S. employees, a day after Netflix announced generous new-parent benefits for its workers.

Under its new policy, Microsoft Corp. will increase total paid leave for new mothers to 20 weeks, from a current 12 weeks paid and eight weeks of unpaid leave. New fathers will get 12 paid weeks, instead of four paid and eight unpaid. Microsoft is also increasing its contribution to employees’ 401k plans.

The move follows Netflix’s offer of up to a year of paid parental leave. Many tech companies offer generous benefits as they compete to attract talented engineers and other workers.

Netflix has about 2,000 workers, while about half of Microsoft’s 110,000 workers are based in the United States.

  • Tesla Motors’ net loss triples

DETROIT – Tesla Motors’ upcoming Model X SUV cast a long shadow over the company’s second-quarter results.

Tesla’s net loss nearly tripled to $184 million in the April-June period as it invested in tooling and factory capacity for the new SUV, which is scheduled to go on sale next month.

The Palo Alto, California, maker of electric cars also lowered its expectations for full-year sales because it’s not confident suppliers will be able to meet its production goals for the Model X in the fourth quarter. It now expects to sell between 50,000 and 55,000 Model S sedans and Model X SUVs this year, down from a previous target of 55,000.

“We do think that it’s going to be quite a challenging production ramp on the X,” Tesla CEO Elon Musk told analysts on a conference call Wednesday. “We only want to deliver great cars, so we don’t want to drive to a number that’s greater than our ability to deliver high-quality vehicles.”

Tesla’s shares fell $18.13, or 6.7 percent, to $252 in after-hours trading following the release of the earnings report.

Musk later mused that the Model X could be “the hardest car to build in the world.” Its tricky features include unique side doors that open out and upward.

Tesla sold a quarterly record 11,532 Model S electric cars in the second quarter. It said sales grew more than 50 percent in Europe despite two price increases in the last six months, and they were up 30 percent in the U.S. Revenue rose 24 percent to $954.9 million.