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. ...
Zuckerberg Bride, Priscilla Chan, Not Your Usual Billionaire's Wife
Just as we thought Facebook CEO and newly minted billionaire Mark Zuckerberg was on top of the world, he surprised even his friends by marrying his college sweetheart, 27-year-old Priscilla Chan, just after he led the company to one of the biggest IPOs in tech history. Zuckerberg has been...
Amazon Appstore now allows Android users to Test Drive apps
The Amazon Appstore was updated on Monday to include the company’s popular Test Drive feature on Android devices. The retail giant previously allowed users to test apps using desktop browsers prior to purchasing them, but now trials can be tested on devices. “Today we begin the beta rollout of Test Drive on Android phones,” Amazon said. “Now customers can instantly try apps on their phone — where a majority of app purchases take place — without downloading or installing anything.” The Test Drive feature is currently available on more than 5,000 apps and is compatible with select Android handsets, however Amazon promises the feature will be rolled out to “many more” devices in the coming months. Read
SAP says it will buy Ariba for $4.5B
Business software maker SAP AG says it will buy spending-management software company Ariba Inc. for about $4.51 billion.
Gadgets: iPad as Etch A Sketch
ABC News' gadget roundup this week features the nostalgically fun Etch A Sketch case for the iPad, a USB battery fuel cell charger for smartphones, and HP's newest Spectre XT ultrabook. Click through for more exciting gadget picks this week.
Funds with Facebook hammered as proxy by shorts
(Reuters) - Some investment funds have paid a price for their friendship with Facebook since the social networking giant went public last week. Firsthand Technology Value Fund and GSV Capital Corp, two closed-end funds that bought shares of the social media company before the IPO, have taken a beating, used as proxies for betting against Facebook. "Until investors can actually short Facebook, they have to keep shorting things that can give them some sort of proxy for Facebook," said Thomas Vandeventer, manager of the Tocqueville Opportunity Fund, which owns shares in both closed-end funds. ...
