Thanks, Jim Cameron! “Avatar” Gives News Corp. a Big Bump.

Wall Street was expecting big things from “Avatar”–this is what happens when you’re the biggest movie in history–and it delivered. The film’s performance helped push News Corp.’s quarterly earnings above Wall Street’s expectations, generating revenue of $8.8 billion and earnings of 32 cents per share. Analysts had been looking for $8.23 billion and 22 cents, respectively.

iPhone Claims 32 Percent of Handset Industry Operating Profits

Bernstein Research analyst Toni Sacconaghi estimates that Apple, though it is only the fifth-largest handset vendor, claimed nearly a third of handset industry profits in the first half of 2009.
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Palm: Kaufman Sets Hold Rating; Many Possible Suitors

Kaufman Bros. analyst Shaw Wu this morning launched coverage of Palm with a Hold rating and a $16 price target. He writes in a research note that the company is well-positioned in the smart phone sector with its WebOS software, but that the valuation is expensive; he also is concerned about ongoing operating losses and a weak balance sheet.

OpenTable Shareholders Apparently Booking Reservations in Empty Restaurants

Anyone who dismissed OpenTable’s IPO price of $20 as grossly overpriced has, in short order, been proven grossly mistaken. Shares in the online restaurant reservation company opened at $24.50 apiece, up 23 percent from its IPO price. As I write, they’re trading at $28.72 after topping out at $30–-more than double their original price range.
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