Apple (AAPL) was able to retake a key level in the stock market today, lifted by positive comments about its new music streaming service. At the New Music Seminar on Wednesday, music industry leaders talked about how Apple Music may help boost the industry’s flagging revenue. The seminar’s founder says that if Apple can convert 200 million free-trial customers into subscribers, the tech giant could potentially triple the growth of streaming. Apple
IBM (IBM) will collaborate with online file storage company Box (BOX) to develop new applications and jointly market products and services. The companies plan to integrate their existing products and services and develop new ones across multiple industries, including medicine, finance, engineering and academics. As part of the wide-ranging partnership, Box users will be able to store files on IBM’s cloud platform. The two also plan to jointly
Clinical research organization Parexel International (PRXL) plunged more than 7% Wednesday, off record highs, after it lowered its guidance late Tuesday ahead of its investor day. Parexel said it now expects revenue for the fiscal Q4 ending June 30 to be $517 million to $533 million, down from its previous guidance of $520 million to $540 million. Earnings will be taking a hit in the range of $20 to $30 million, lowering GAAP EPS guidance by about