Apple aborts retail sales of the iPhone 4S in China. Customers freezing overnight in winter temperatures became aggressive in a botched debut of the phone. While the stores failed to open other retailers sold out of the phone in one day. China Unicom did not know of this reality when it said it planned to aggressively promote the iPhone 4S.
McDonald’s extends its Olympic sponsorship to 2020. It remains one of 11 top sponsors that provide an estimated $100 million each for every two-game package. It hopes the extension will help it brand in fast-growing cities such as Sochi, Russia (2014 games) and Rio de Janeiro (2016 games).
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Nathan’s Famous hot dog maker accepted orders priced in a range of $20 to $22 per share as it announced the results of its modified Dutch auction to purchase up to 500,000 shares.
Mead Johnson shares dwindle as rival Synutra confirms the safety of its infant formula. After an investigation of a baby’s death in China raised questions, Mead has been hobbling in a lower trading range than it had prior to the Enfamil scare, despite sounding the “all-clear” on its own formula.
JDA Software’s fourth quarter warning could be a red flag for both spending in the IT sector and in the United States retail market. During an earnings call that followed the warning, the company blamed the shortfall primarily on retailers halting orders for JDA’s supply-chain management software.
Tesla Motors dives after two executives walk out the door. This is ahead of the mid-year debut of the company’s latest car. The chief engineer is one of those individuals that Blue Phoenix’s John Licata says left.
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To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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