Apple Talks Future: Tech Weekly

NEW YORK ( TheStreet) -- Even though it was a short week thanks to Memorial Day, tech was chock-full of stories, including comments from Apple ( AAPL) CEO Tim Cook, Research In Motion's ( RIMM) potential sale of itself and rumors of a Facebook ( FB) phone.

Speaking at the AllThingsD conference on Tuesday, Cook didn't announce the iPhone 5 or the Apple television, but he did mention a few new things about the company's future.

On the subject of Apple's manufacturing, Cook noted that most of the company's manufacturing is overseas, but said he hoped that Apple's products could be assembled in the U.S. someday. Cook also spoke highly of Apple's relationship with Facebook, saying, "I think the relationship is very solid."

He also discussed other topics such as wearable technology and his relationship with Steve Jobs.

Shares of Apple finished the week down 0.2% at $560.99.

Troubled Canadian technology firm Research In Motion announced Tuesday that it will be slashing jobs. RIM also forecast an operating loss for its fiscal first quarter, and said it has hired bankers to help with its ongoing strategic review.

Beyond saying the company would report a loss, CEO Thorsten Heins did not provide specific guidance. He added that RIM expects its "financial performance will continue to be challenging for the next few quarters" and said more detail will available when the company's quarterly results are released June 28.

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According to Thomson Reuters, Wall Street is looking for first-quarter earnings of a penny a share on $3.157 billion in revenue.

The company announced there will be "significant spending reductions and headcount reductions in some areas throughout the remainder of the fiscal year," but again did not provide specific numbers.

Shares of Research In Motion closed the week down 6.7% at $10.26.

Facebook reportedly is looking to launch its own branded smartphone, a move many are seeing as desperate should it come to fruition.

The New York Times reported Facebook is preparing to make a leap into the fiercely competitive smartphone market. Citing unnamed Facebook employees, engineers sought out by Facebook recruiters and people briefed on the company's plans, the Times reports that Facebook plans to release its smartphone by next year.

The social networking giant declined to comment when contacted by TheStreet.

Facebook is reportedly considering acquiring Opera Software and its Web browser, which would strengthen its smartphone plans, should they happen. Opera declined to comment to TheStreet.

Shares of Facebook closed the week down 13.1% at $27.72.

Splunk ( SPLK) reported strong quarterly earnings on Thursday, beating Wall Street's estimates in its first quarterly report since its IPO last month.

Splunk reported first-quarter revenue of $37.2 million, a rise of 80% year over year. Excluding items, Splunk lost 4 cents a share. Analysts surveyed by Yahoo! Finance were looking for a loss of 6 cents a share.

For the second quarter, the data mining specialist expects revenue between $38 million and $40 million, above Wall Street's forecast of $34.48 million. For the fiscal year, the San Francisco-based company projects sales of between $174 million and $177 million. Analysts surveyed by Yahoo! Finance were looking for revenue of $172.34 million.

Shares of Splunk lost 24.1% this week to close at $27.24.

TiVo ( TIVO) shares fell after the company posted weak first-quarter results and second-quarter guidance on Wednesday.

The digital video recording company reported a loss of 17 cents a share on $67.78 million in revenue for the first quarter. Service and technology revenue came in at $54.5 million. Analysts polled by Thomson Reuters were expecting a loss of 15 cents a share on $54.89 million in service and technology revenue.

For its fiscal second quarter, TiVo said it expects service and technology revenue to be between $53 million and $55 million and projects a net loss of $28 million to $30 million. Analysts surveyed by Thomson Reuters were expecting revenue of $56.5 million and losses of $27 million.

Shares of TiVo plunged 12% this week to $8.07.

Although it was short, this week was full of economic reports (mostly negative). Next week has even more in store for us, such as factory orders on Monday and the Federal Reserve's Beige Book on Wednesday, so strap on your boots and get ready to do some dirty work. Take care and enjoy the weekend, everyone.

Interested in more on TiVo? See TheStreet Ratings' report card for this stock.

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-- Written by Chris Ciaccia in New York

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