Biz Break: Clapping for Tim Cook; Netflix’s new “Tiger”

Top Of The Order: 

…And A Laurel And Hearty Handshake, Too: It’s been a busy week for Apple Chief Executive Tim Cook. What with all the ongoing drama surrounding the company’s refusal to help the FBI unlock the most-famous iPhone in the world. Cook barely had enough time to squeeze in an interview with ABC.

But on Friday, Cook was among friends. Specifically, those friends that own Apple’s stock at the company’s annual shareholders meeting in Cupertino. And they gave Cook the kind of reception one might have expected at, say, the opening night of “Star Wars: The Force Awakens”: a standing ovation.

It’s safe to say that in his almost five years as Apple’s CEO, Cook has yet to face a challenge like the one he and Apple are dealing with now. But there can be no doubt he has the kind of support that most government officials can only dream of.

Middle Innings:

The Reviews Are, Well…The latest big release from Netflix, “Crouching Tiger, Hidden Dragon: Sword of Destiny”, the sequel to 2000’s “Crouching Tiger, Hidden Dragon” made its debut on the Internet-streaming leader’s service Friday. The film is a Netflix exclusive, and its premiere follows in the footsteps of last fall’s “Beasts of No Nation,” which debuted online and in limited theatrical release.

And one of the reasons that release is “limited” is because many large theater chains don’t like the idea of shelling out for the film when Netflix is also showing it online, and in the consumers’ homes, at the same time. So far, the reviews of the new “Crouching Tiger” have been decidedly mixed.

Leave The Keys With The Valet: Just a view years ago, the term “on-demand parking startup” would have sounded as crazy as “Uber”. But parking can be a pain, and also one of those things that people are willing to pay others to do if it saves them some time. That’s why a company like San Francisco’s Luxe exists. And also why Luxe is reportedly getting a big investment from rental car giant Hertz.

This Is What A “Reset” Looks Like: Zenefits, the cloud-based human resources software company that’s been in hot water because it faked training-certification programs for many sales representatives, said Friday that it is cutting 250 jobs, or about 17 percent of its staff. Zenefits CEO David Sacks said most of the job cuts will involve sales staff, as the company “grew too fast, stretching both our culture and our controls.”

Bottom Of The Lineup:

Here’s a look at how some leading Silicon Valley tech stocks did Friday…

Movin’ On Up: Nimble Storage shares rose 11.5 percent after the storage-technology company said it will begin making a version of its products that use only flash memory chips. Gains also came from Medivation, GoPro, Splunk and Marketo.

In The Red: Harmonic, Intuit, Infoblox, Depomed and A10 Networks each saw their shares fall by at least 3 percent.

The SV150 Index of Silicon Valley’s biggest companies rose 0.8 percent to end the week at 1,519.

The tech-focused Nasdaq Composite Index edged up by 0.2 percent to 4,590.

The blue chip Dow Jones Industrial Average was trimmed by 0.3 percent to slip to 16,639.

And the broad-based Standard & Poor’s 500 Index shed 0.2 percent to finish the day at 1,948

Quote Of The Day: “I love sleep. My life has the tendency to fall apart when I’m awake, you know?” — Ernest Hemingway.

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Photo: Apple CEO Tim Cook (AP Photo/Paul Sakuma, File)

 

 

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