Needham starts Facebook with buy, $40 price target(Reuters) - Brokerage Needham & Co started coverage on Facebook Inc with a "buy" rating, a rare positive take on the shares of the social network after they lost nearly a fifth of their value since the company's stock started trading last Friday. Facebook should be valued based on the revenue potential from total minutes spent on the website, Needham analysts said, setting a $40 price target on the stock. Facebook shares were up 4 percent at $32.35 in early trade on the Nasdaq. ...
Yahoo under Levinsohn seen shifting to content, advertising SAN FRANCISCO (Reuters) - With two of its most distracting conflicts resolved in the past week and a half, Yahoo Inc hopes its new interim chief executive can focus on the biggest challenge of all: turning the company into an entertainment and information destination that wins back the advertising dollars flowing elsewhere. While ousted predecessors Scott Thompson and Carol Bartz were seen as technologists, Ross Levinsohn has managed Internet efforts at such mainstream media companies as CBS and Rupert Murdoch's News Corp. ...
Regulators, investors turn up heat over Facebook IPO (Reuters) - Two top U.S. financial regulators said on Tuesday the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its lead underwriter, Morgan Stanley, and the Nasdaq stock exchange. Facebook shares closed 8.9 percent lower at $31, following an 11 percent plunge on Monday. At that price the company has shed more than $19 billion in market capitalization from its $38-per-share offering price last week. ...
Google+ trends: next gen iPhone rumored to have 3.999" display, Doctor Who memes The rumor mill is on fire today with murmurs that the next generation iPhone will sport a 3.999” display with a high definition 1136 x 640 resolution.
"Citizen journalism" focuses on Israeli occupation ASEERA AL-QIBLIYA, West Bank (Reuters) - Amateur video of Israeli soldiers appearing to watch idly as settlers opened fire on Palestinians throwing stones has emphasized the growing power of "citizen journalism" in the occupied West Bank. Shaky footage, captured on Saturday from two angles by residents of Aseera al-Qibliya village, shows bearded residents from the nearby settlement of Yitzhar aiming a hand gun and assault rifle at the crowd, followed by sounds of gunfire. A bloodied youth shot in the face was shown being carried away on the shoulders of fellow villagers. ...
Twitter index: Baz Luhrmann's 'The Great Gatsby' trailer, Robert Moog Google Doodle The first trailer for Baz Luhrmann’s The Great Gatsby has hit the web.
Google creates replica synthesizer Doodle to celebrate Bob Moog’s 78th birthdayElectronic music fans are reveling in the discovery of today’s Google Doodle: a working web-based synth that lets users tap out a melody while tweaking oscillators and filters.
Facebook advised analysts to cut forecasts before float(Reuters) - As Facebook officials traveled the country to talk up the company's $16 billion initial public offering this month, the social networking giant advised analysts for underwriters to reduce revenue and earnings forecasts, said people with direct knowledge. Facebook decided to tell analysts to cut estimates due to feedback during the investor roadshow which revealed users were opting for mobile devices which generate less advertising revenue and after consulting with its adviser Morgan Stanley "Facebook backed off and said, 'Hey get your models down. ...
Facebook settles lawsuit over "Sponsored Stories"SAN FRANCISCO (Reuters) - Facebook Inc has agreed to settle a lawsuit that alleged the site's "Sponsored Stories" feature publicized users' "likes" without compensation or the ability to opt out, according to a court document filed on Tuesday. The proposed class action lawsuit, filed in a San Jose, California federal court, could have included nearly one of every three Americans, with billions of dollars in damages, court documents say. The terms of the settlement are not spelled out in court filings. ...
Analysis: Did banks cross the line in Facebook research calls?NEW YORK (Reuters) - As regulators scrutinize Facebook's problem-plagued stock market debut, they may have to confront areas of securities law that do not always clearly spell out what industry analysts are allowed to tell clients about companies on the verge of going public. Facebook and the Wall Street banks that underwrote its $16 billion initial public offering are facing questions about how and why stock analysts decided to cut their financial forecasts on the company ahead of the IPO. ...
Yahoo under Levinsohn seen shifting to content, advertisingSAN FRANCISCO (Reuters) - With two of its most distracting conflicts resolved in the past week and a half, Yahoo Inc hopes its new interim chief executive can focus on the biggest challenge of all: turning the company into an entertainment and information destination that wins back the advertising dollars flowing elsewhere. While ousted predecessors Scott Thompson and Carol Bartz were seen as technologists, Ross Levinsohn has managed Internet efforts at such mainstream media companies as CBS and Rupert Murdoch's News Corp. ...
SAP says initially planned cooperation with AribaMANNHEIM, Germany (Reuters) - SAP said on Wednesday it initially planned a cooperation with Ariba Inc rather than buying the commerce network company. German business software maker SAP announced plans to buy Ariba late on Tuesday, in a deal valuing the U.S. company at $4.3 billion, its latest maneuver against Oracle in the fast-growing Internet-based computing market. SAP said it still aims to reach an operating margin of 35 percent in 2015. (Reporting by Harro ten Wolde and Hendrik Sackmann)
SAP to buy Ariba, boosts cloud bet SAN FRANCISCO (Reuters) - Top European software company SAP AG plans to buy Ariba Inc in a deal valuing the business and commerce network company at $4.3 billion, its latest maneuver against Oracle in the fast-growing Internet-based computing market. SAP is taking aim at Oracle, the world's No. 2 maker of business management software, as they vie with Salesforce.com Inc in the multibillion dollar cloud-computing services market, one of the industry's hottest area of growth. Shares in Ariba, which were halted briefly, leapt 20 percent to SAP's offer price of about $45 per share. ...
Insight: Morgan Stanley cut Facebook estimates just before IPO (Reuters) - In the run-up to Facebook's $16 billion IPO, Morgan Stanley, the lead underwriter on the deal, unexpectedly delivered some negative news to major clients: The bank's consumer Internet analyst, Scott Devitt, was reducing his revenue forecasts for the company. The sudden caution very close to Facebook's initial public offering - while an investor road show was under way - was a big shock to some, said two investors who were advised of the revised forecast. ...
Website address 'revolution' back in motion The Internet domain name "revolution" was back in action Tuesday with the agency in charge of website addresses once again taking applications for online neighborhoods breaking the ".com" mold.
Auto-Correct Is Not Ruining Spelling Today in studies that claim the Internet is ruining our lives, the BBC informs us that auto-correct and spellcheckers have turned us into a bunch of illiterate idiots. But our spelling has been degrading for much longer than iPhone auto-correct has been around. In a survey of more than 2,000 British people, one third of the participants could not spell definitely and two-thirds could not spell separate. While that does sound scary, the survey doesn't indicate whether spelling is rising or falling in Britannia. ...
Google completes Motorola deal, heralding new era Google has completed its $12.5 billion purchase of device maker Motorola Mobility in a deal that poses new challenges for the Internet's most powerful company as it tries to shape the future of mobile computing.
Google completes Motorola Mobility takeover Google closed Tuesday its $12.5 billion deal for Motorola Mobility, a key manufacturer of smartphones and other devices that puts the Internet giant in head-to-head competition with Apple.
The Best and Worst Ways to Handle a Bad Yelp Review Yelp, like all Internet forums, draws some insidious awful voices, which can present particular problems for businesses trying to solicit customers. The way Yelp works, these businesses can't remove comments, even of the most trollish sort, because that would ruin Yelp's whole set-up. Yelp wants to act as an accurate portrayal of local businesses, after all. The review site does, however, have a filter, which gets rid of the top-shelf garbage. But not all bad reviews constitute spam. And sometimes, a bad burger deserves a rant. ...
FCC Boss: You Should Pay for Internet By How Much You Use [POLL]FCC Chairman Julius Genachowski has some short words for Internet providers that want to charge customers by how much bandwidth we use: Go right ahead.
The Big Reason for Facebook's Fizzled IPO: Advertising Pains As Facebook's stock continues its slump, now trading even lower than yesterday's low, the Internet has reached a consensus on why the IPO of the year isn't performing: Advertising. It's how Facebook makes its dollars. And, it has made a lot of dollars this way. But it's not clear Facebook's very good at it, or will get good enough at it to justify a $38 per share price. Hence the investor worry.
ICANN resumes bids for new Internet suffixesThe organization overseeing a major expansion of Internet addresses has reopened its system for letting companies and organizations submit proposals.
Google completes takeover of Motorola Mobility Google Tuesday finalized its $12.5 billion deal for Motorola Mobility, a key manufacturer of smartphones and other devices which puts the Internet giant in head-to-head competition with Apple.
Less than 2% ‘Like’ mobile carriers despite millions spent on Facebook campaigns Less than 2% of mobile carriers’ subscribers “Like” them on Facebook despite the millions of dollars they collectively spend in an effort to promote their services on the world’s most popular social network. Facebook made its initial public offering on Friday and while the company’s stock price dipped below the IPO price of $38 on Monday and continued to slide on Tuesday, Facebook’s offering was the biggest Internet IPO of all time by nearly 10 times. There is no denying that Facebook and the 900 million people who use the social network are of tremendous value to businesses looking to promote their services, but mobile carriers have seemingly not found success thus far as they attempt to bolster Facebook fan counts. According
A look at tech companies with recent IPOsHere's a look at how some companies that had initial public offerings of stock since January 2011 are faring. The companies are all loosely Internet-related, though their businesses vary widely.
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