Essentially–although AOL is located in New York and not California–it’s going to be like tremors before the Big One at the online company today as about 100 employees are set to be laid off by management.

It is part of AOL CEO Tim Armstrong’s “Project Everest”–the code name for cost-cutting across the company. After this small cut, there could be a call for voluntary departures, followed by a much more drastic layoff.

The action comes in the same timeframe as the online site’s spinoff from Time Warner.

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The Seattle area is going to get another jobless jolt today, with RealNetworks planning to lay off four percent of its workforce, sources said.

That’s a small number–just about 70 people out of its 1,700-person staff–but the move comes on the heels of layoffs of another 800 employees at nearby Microsoft yesterday.

The reasons for the layoffs at RealNetworks are, as was the case at Microsoft, to realign the workforce after the recent economic downturn and to control costs.

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Microsoft announced much better than expected results–led by strong Windows and Xbox demand and cost discipline.

Here are Microsoft’s slides on the financial results, which you can enjoy all weekend long (if you have no life, it goes without saying).

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Well, well, well, that financial imp at Microsoft–CFO Chris Liddell–pulled a fast one on Wall Street and turned in first-quarter earnings that blew away all estimates and even whisper numbers.

BoomTown liveblogged the morning conference call, which took place at 7:30 am PT–thanks for the Kiwi-laced wake-up call, Chris!

While revenue and net income in Q1 were down significantly from the same period a year ago, they were not as bad as investors expected.

Which apparently passes for terrific these days!

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Microsoft has had a high-profile week, between launching its new Windows 7 operating system and striking real-time feed partnerships with both Twitter and Facebook.

But Wall Street is not expecting quite as much excitement from the software giant’s first-quarter earnings, which will be announced before the markets open this morning.

So any beating of expectations would be seen as a big deal by investors.

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Yahoo has hired a new head of mergers and acquisitions–former General Electric M&A exec Andrew Siegel, who will now be VP of corporate development.

Yahoo CFO Tim Morse dropped the news with no details about that title in an interview with The Wall Street Journal about the Silicon Valley Internet giant’s third-quarter earnings.

One question apparently not answered was what exactly is the status of its current top M&A exec, Greg Mrva–who has had the title Siegel now has posted on his LinkedIn profile–as well as that of VP of mergers and acquisitions more recently.

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Yahoo reported its third-quarter earnings earlier today, a pretty good performance in which it soundly beat Wall Street expectations with a stronger net income than expected.

While advertising revenue was down at the Silicon Valley Internet giant, also as expected, cost-cutting by CEO Carol Bartz and the sale of its stake in China’s Alibaba seem to have more than made up for it.

Here are Yahoo’s financial presentations, full of more numbers than you will ever want to crunch.

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Uh-oh, Yahoo CEO Carol Bartz was expected to appear on the Internet giant’s third-quarter earnings call, but she apparently “came down with something,” according to CFO Tim Morse.

BoomTown is sending over chicken soup right now, but let’s hope she gets her vaccinations tout de suite!

Thus, no sassy quotes or cursing, but a very earnest Morse, who sounded like he was once a Boy Scout.

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Yahoo bested Wall Street expectations today, announcing stronger net income for its third quarter, despite an also expected decline in revenue.

In addition, Yahoo’s expectations for the fourth quarter are more positive than expected by investors.

But, there were some issues to worry about: Search advertising revenue was off 19 percent and display was off eight percent at “Owned and Operated” sites on Yahoo.

So, while investors can finally relax, how Yahoo can grow going forward is sure to be their next focus.

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It’s not likely the announcement of Yahoo’s third-quarter earnings later today will be quite as exciting as its Open Hack Day in Taiwan this past weekend, but BoomTown will try to make those numbers and the conference call afterward with CEO Carol Bartz as entertaining as possible.

Bartz is certain to be so, especially if she lobs some good quotes, as she did in a recent interview about her management style: “I have the puppy theory. When the puppy pees on the carpet, you say something right then because you don’t say six months later, ‘Remember that day, January 12th, when you peed on the carpet?’ That doesn’t make any sense.”

How much does BoomTown pray for more zingers like that? Muchly!

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When Apple reports its fourth-quarter earnings today, investors are hoping–actually, expecting–that the iconic computer company will look a lot now as it always has.

In other words, don’t go changing and it will please us.

In fact, Wall Street is anticipating, as it has throughout the econalypse, another estimate-beating performance.

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In one week, Yahoo will report its third-quarter earnings, after the market closes.

And so far, its stock is showing signs that investors are hoping for better days ahead for the Internet giant.

Other good news: A pair of bullish analyst reports yesterday.

But, a spate of executive departures, with chances of more to come, are worrisome.

As is the excessive yodeling Yahoo is once again encouraging.

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Yahoo is set to unveil a major marketing campaign to reset advertiser and consumer perception of the long-troubled company during Advertising Week in New York, which starts a week from tomorrow.

According to numerous sources BoomTown has spoken to about the campaign, Yahoo is–at least with advertisers–going to focus on stressing the size and scale of the Internet giant. With consumers, the Internet giant will push the idea of being a key hub on the Web.

The details of the plan will be made public Tuesday, Sept. 22, at a press conference with senior Yahoo execs, including CEO Carol Bartz.

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It’s hard to know what to think of the economy’s direction, even if you are trying to glean some knowledge from those whom you imagine might know a thing or two about it.

Indeed, if you listened to a variety of tech and media execs talk about what its status is of late, it’s a wonder we can get out of the woods, since no one knows exactly where we are in them.

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When Time Warner reports its second -quarter earnings tomorrow morning, before the markets open, most Wall Street analysts are not expecting much from the media giant, as it continues to slog toward a rejiggering of itself.

Time Warner–which owns assets like the Warner Bros. movie studio, the AOL online unit, the HBO and Turner cable networks and Time Inc. magazines–is expected to earn 37 cents per share, compared to 72 cents a year ago, according to a poll of analysts from Thomson Reuters.

Revenue is expected to be $6.97 billion, down from $11.56 billion in the same quarter last year. This drop is mostly due to the March spinoff of its cable unit, Time Warner Cable.

But AOL and its magazine unit are expected to continue to drag on Time Warner’s financial performance.

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