The horrendous stock market debut for Facebook suggests investors are not ready to jump in and create another tech bubble despite big expectations for social media, analysts say.
Facebook closed out its first full week of trade with a loss of 16 percent from its offering price of $38, in a huge disappointment after a much-hyped initial public offering worth $16 billion, the biggest for a tech firm.
Full StoryYahoo! shuttered its fledgling digital newsstand for iPads on Friday in what it said was the start of a product purge intended to make the floundering Internet pioneer more nimble.
Livestand was launched in November as a way to turn tablet computers into personalized magazines rich with stories, images and video suited to individual tastes.
Full StoryAustralia on Saturday hailed a surprise decision giving it a role in a radio telescope project aimed at revolutionizing astronomy, vowing to draw on its decades of experience in space science.
Australia and South Africa were named joint winners of the Square Kilometer Array (SKA) project following a meeting of the organization’s members in the Netherlands on Friday.
Full StoryFacebook's rocky initial public offering hasn't stopped life at the world's biggest online social network. On Thursday, the company unveiled a camera app for the iPhone.
The app can be downloaded from Apple's App Store and works like most other camera applications for smart phones. To take a photo, you tap a camera icon in the upper left corner of your screen, aim and shoot. You can then add filters, crop or tilt your photo, and share it on Facebook.
Full StoryZombies stalked San Francisco streets on Thursday as social game maker Zynga ghoulishly introduced a game that lets iPhone or iPod Touch users slash and hack the undead.
Actors posing as the living dead were unleashed here and in Manhattan ahead of the "Zombie Swipeout" launch. The hordes enticed humans with free "blood pops" -- hibiscus and mint popsicles promising the "fleshiest" ingredients.
Full StoryThe Swiss sun-powered aircraft Solar Impulse landed safely in Madrid early Friday at the end of the first leg of its attempt at an intercontinental flight without using a drop of fuel.
Pilot Andre Borschberg successfully had launched the plane from an airfield in Payerne in western Switzerland at around 8:30am (0630 GMT) Thursday, bound for Rabat via Madrid, after a two-hour delay due to foggy conditions.
Full StoryYahoo! on Wednesday set out to reclaim the Internet search crown from Google with the release of software that transforms the way users explore the Web using Apple's coveted gadgets.
A Yahoo! Axis application was introduced for iPhones, iPads, and iPod Touch devices and also as "plug-in" software for Chrome, Internet Explorer, Firefox and other Web browsers featuring HTML-5 graphics capabilities.
Full StoryGoogle won a major victory Wednesday as jurors sided with the Internet giant in a high-stakes court battle over patents with business software titan Oracle.
In a unanimous decision, 10 jurors agreed that Oracle had failed to prove its claims that Google infringed on Java software patents in Android operating software for smartphones and tablet computers.
Full StoryGoogle 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.
The deal closed Tuesday, nine months after Google Inc. made a surprise announcement that it wanted to expand into the hardware business with the most expensive and riskiest acquisition in its 14-year history. The purchase pushes Google deeper into the cellphone business, a market it entered four years ago with the debut of its Android software, now the chief challenger to Apple Inc.'s iPhones.
Full StoryRegulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst's negative report about the company before the stock started trading.
Rick Ketchum, the head of the Financial Industry Regulatory Authority, the self-policing body for the securities industry, said Tuesday that the question is "a matter of regulatory concern" for his organization and the Securities and Exchange Commission.
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