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Timothy B. Lee

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Posted at 01:26 PM ET, 04/12/2013

The Circuit: BlackBerry seeks SEC review of analyst report

BlackBerry asks for SEC review of return reports: BlackBerry has said it will ask the Securities and Exchange Commission to review an analyst report that there have been unusually high return rates for the latest smartphone model, the BlackBerry Z10. The company particularly mentioned a report from Detwiler Fenton that suggested that return rates were very high. Once those reports began circulating, BlackBerry shares fell as much as 8 percent.

In a statement Friday, BlackBerry said that its return rates have been in line with expectations and that to “suggest otherwise is either a gross misreading of the data or a willful ma­nipu­la­tion.”

Detweiler Fenton’s general counsel and chief compliance officer Anne Buckley said in a statement that the firm stands by its methodology and welcomes regulatory inquiry into the report.

Former White House, FCC officials back Wheeler for chair: A group of former White House and Federal Communications Commission officials have sent a letter to President Obama backing Tom Wheeler for the post of FCC chairman.

Hill reporter Brendon Sasso posted a copy of the letter, which says that Wheeler will have an “open mind and an intelligent take” on the challenges the agency faces right now.

Wheeler, formerly president of the National Cable and Telecommunications Association, is considered one of the top candidates to replace outgoing chairman Julius Genachowski. As the Hill reported, critics such as Sen. Jay Rockefeller (D-W.Va.) have raised some concerns about Wheeler’s past as a lobbyist.

“He’s been lobbying for some of the things he’d be making decisions on,” Rockefeller told the Hill this week, though he declined to say whether he thinks Wheeler is a bad choice for the position. Rockefeller was one of 36 Democratic senators who backed FCC commissioner Jessica Rosenworcel for the post in a letter sent to the president last month.

Google formally submits package to EU: Google has formally submitted a concessions package to the European Union regarding a European Commission investigation into antitrust complaints, Reuters reported.

The report said that the European commission will seek feedback on the proposals and that whatever agreement is reached will be legally binding.

The Federal Trade Commission concluded a similar probe this year, finding that Google’s practices had not manipulated search results.

Netflix releases new viewer data on Facebook: Netflix chief executive Reed Hastings announced on his personal Facebook account Thursday that the company has now streamed 4 billion hours of video.

The disclosure comes shortly after a Securities and Exchange Commission policy change that allows companies to share information about their operations using social networking sites. Netflix had gotten into trouble last year after Hastings disclosed that the company had streamed more than 1 billion hours of content in June, The Washington Post reported.

Ahead of Hastings’s post Thursday, Netflix said it may use Facebook and Twitter to release material information about the company.

By  |  01:26 PM ET, 04/12/2013

 
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