Facebook's debut is modest, high volumes cause problems SAN FRANCISCO (Reuters) - Facebook Inc shares rose less than expected on their first day of trade on Friday and huge order volume caused technical problems that marred the coming out party of the No. 1 online social network. Its shares were up 8 percent in early afternoon trading on the Nasdaq, after opening 11 percent higher and then rapidly heading south to touch their initial public offering price of $38. The gains were below market forecasts of as much as a 50 percent jump. ...
Shorting Facebook on first day: Only for the braveNEW YORK (Reuters) - Shorting the Facebook IPO on its first day of trading is not for the faint of heart, but some traders are trying. As the hottest initial public offering in recent memory, Facebook has drawn 1990s-style tech-mania interest from mom and pop investors and big institutions alike. That intense appeal means short-sellers are both attracted by the stock's high valuation and wary, at least for now. "I have no interest in shorting a cultural phenomenon," hedge fund manager Jeffrey Matthews of Ram Partners in Greenwich, Connecticut, told Reuters in an email interview. ...
If your company was worth $104 billion, what would your Facebook status be? After sucessfully going public with the largest-ever IPO for a tech company in history, Mark Zuckerberg had one problem left to address...what to set as his Facebook status.
Yahoo shares climb on report Alibaba deal near (Reuters) - Yahoo Inc shares rose as much as 6.7 percent on Friday after a report that it was close to selling part of its valuable stake in the Alibaba Group. Shares of Yahoo climbed as high as $15.87 before easing to $15.64, up 5.2 percent. Yahoo and Alibaba Group, the Chinese Internet group that runs e-commerce site Alibaba.com, are close to an agreement that could happen as soon as Monday, according to a report in All Things D, citing unnamed sources.. Yahoo would sell one-half of its 40 percent stake back to Alibaba. ...
'Madagascar 3' roars: Twitter highlights from Cannes "Cannot wait for Madagascar 3 to come out," say Twitter users after the animated film made its Cannes debut. Further online reaction to this latest edition in the much-loved animated franchise can be found below in this latest article from Relaxnews examining social media reaction to the Cannes Film Festival.
Mediaset fears internet challenge amid ad slumpMILAN (Reuters) - An executive at Mediaset said on Friday internet giants could challenge Italy's biggest commercial broadcaster's business model in coming years, while the advertising outlook remains grim. Mediaset, controlled by ex-prime minister Silvio Berlusconi, is Italy's leading advertising seller but in the last few years its dominance has been eroded by pay-TV satellite competitor Sky Italia and the proliferation of new channels enabled by the switch to digital television. "I'm afraid that the future is Internet connectivity. ...
Twitter index: Ian Curtis remembered, Donna Summers mourned, The Script questioned Users of the microblogging site are remembering former Joy Division frontman Ian Curtis, who passed away on this day 32 years ago, grieving for disco queen Donna Summers and asking questions of band The Script.
Google+ trends: iPhone rumors, Facebook IPO Ahead of Apple's WWDC on June 11-15 Google + users are buzzing about rumors that the latest iPhone, the iPhone 5, could feature a 4" or bigger display.
Insight: Who got Facebook IPO shares? Fairness may not come into it NEW YORK (Reuters) - A lot of loyal Facebook fans and occasional investors are discovering a hard truth this week: Money and connections talk, especially when it comes to a hot deal handled by Wall Street. The scramble for shares in what is one of largest initial public offerings in U.S. history quickly divided the haves from the have-nots on Thursday. Those with big brokerage accounts and a long history as customers of Wall Street firms likely got at least part of their orders for Facebook shares filled, but would-be buyers who had no such ties were lucky to get any. ...
GM ad move followed failed Facebook pitch: sources DETROIT/NEW YORK (Reuters) - Facebook may only have itself to blame for why General Motors rained on its IPO parade this week. GM announced the decision to drop Facebook paid ads on Tuesday in what was the first highly visible crack in Facebook's strategy and illustrated doubts about its perceived advantage over traditional media. GM's decision followed Facebook officials' failure to convince top marketing executives at the U.S. automaker of the benefits of Facebook's paid ads at a meeting that took place in the past few weeks, people familiar with the meeting said on Thursday. ...
Tale of the tape: Google versus FacebookFacebook is the hottest Internet company to hit the stock market since Google went public in 2004. The Silicon Valley companies, located seven miles apart, also happen to be locked in a bitter battle for Web surfers' allegiance and online advertisers' money. The duel is likely to intensify now that the IPO has given Facebook Inc.'s social network billions of dollars to battle Google Inc.'s dominant search engine.
Yahoo shares climb on report Alibaba deal near(Reuters) - Yahoo Inc shares rose as much as 6.7 percent on Friday after a report that it was close to selling part of its valuable stake in the Alibaba Group. Shares of Yahoo climbed as high as $15.87 before easing to $15.64, up 5.2 percent. Yahoo and Alibaba Group, the Chinese Internet group that runs e-commerce site Alibaba.com, are close to an agreement that could happen as soon as Monday, according to a report in All Things D, citing unnamed sources.. Yahoo would sell one-half of its 40 percent stake back to Alibaba. ...
The Best Previews to Facebook IPO Day Before we watch Facebook be its public self at 11:00 a.m this morning, when its starts trading on the stock market, it's time to get caught up on what this all means. Last night the company priced its stock at $38 per share for a valuation of $104 billion -- the biggest pre-IPO valuation ever, of all time. But what do all those numbers mean for the rest of America? For the Internet? For the economy? For companies? For Facebook? For Facebook employees? For you? So many questions. Luckily, the Internet has been typing about this for days. ...
Twitter joins Firefox effort to thwart online tracking Twitter on Thursday took a stand for online privacy by backing a Firefox web browsing feature that lets people signal that they don't want their Internet activity tracked.
Electric Imp Connects Your Home Devices to the InternetIf you've ever dreamed about connecting your entire home to the Internet -- so that appliances could start by themselves or you could receive text message alerts to maintain housekeeping -- it looks like your dream is ready to become a reality.
Reports: HP poised to eliminate up to 30,000 jobsHewlett-Packard is poised to eliminate as many as 30,000 jobs to compensate for dwindling demand for personal computers as more people connect to the Internet on smartphones and tablets, according to reports published Thursday.
UN, Brazil to host Internet debate on green planet The United Nations and the Brazilian government are launching an Internet debate around 10 themes for a green planet to elicit suggestions from experts and the public for next month's Rio+20 summit.
Comcast to start charging heavy downloaders extraComcast Corp., the country's largest Internet service provider, is going to start charging extra when customers go over a certain monthly data limit.
Analysis: Facebook can't take Asian growth for granted SINGAPORE (Reuters) - Even as Facebook fever grips investors ahead of the social networking giant's potential $100 billion-plus initial public offering, its breakneck growth in Asia may be slowing as it moves beyond desktop users to those who access the Internet largely or solely from a mobile phone. In March, Facebook revised its own SEC filings to scale back its scope for further growth in India - its third-biggest user base and the largest population it currently has access to - China remains off-limits to Facebook. ...
Australia warns of 'bespoke' online child sex abuse Australian police warned Thursday that paedophiles were using Internet live-streaming sites to order "bespoke" child sex crimes for real-time viewing, from countries including the Philippines.
Income Inequality Apparently Too Touchy a Subject for TEDIf you’re plugged into the Internet, chances are you’ve seen a TED talk—the wonky, provocative web videos that have become a sort of nerd franchise. TED.com is where you go to find Facebook COO Sheryl Sandberg explaining why the world has too few female leaders, or Twitter cofounder Evan Williams sharing the secret power of listening to users to drive company improvement. The slogan of the nonprofit group behind the site is “Ideas Worth Spreading.”
NY tech fest heralds Silicon Valley of the east The Big Apple may not have California's weather, but tech fans at New York Internet Week say that in every other way the city is on course to become Silicon Valley 2.0.
Sina shares jump on 1st-qtr reportShares of Chinese Internet portal Sina Corp. jumped Wednesday as the company's first-quarter profit beat Wall Street expectations and advertising revenue rose.
Companies less wary of personal devices at work-Cisco(Reuters) - Corporate IT departments in the United States are becoming less wary of staff bringing their personal devices to work, a Cisco study showed, although security remains a top concern. Among 600 IT and business executives questioned by Cisco's consulting arm 95 percent said they support employees bringing and using personal devices in the workplace in some way, Cisco's Internet Solutions Business group (ISBG) said on Wednesday. Corporate IT departments have been slow to embrace the trend dubbed 'Bring your own device' (BYOD) because of potential security risks. ...
LG demos second generation Google TV at Internet Week New York LG is exhibiting its second generation Google TV at Internet Week New York, a city-wide event showcasing the best of the web which runs from May 14-21 in the Big Apple.
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