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. ...
Watch: Apple-Samsung Feud
Court orders CEOs from Apple, Samsung, to meeting to discuss patent dispute.
Kleiner partner sues firm for discrimination
(Reuters) - Kleiner Perkins Caufield & Byers partner Ellen Pao is suing the venture capital firm alleging sexual harassment and discrimination, according to a lawsuit filed earlier this month in California Superior Court. The lawsuit paints a picture of a firm where complaints against harassment went ignored, where a senior partner suggested that marrying the alleged harasser might be the solution to Pao's difficulties, and where women were labeled "buzz" kills. ...
WikiLeaks launches encrypted social network
Backers of the whistle-blowing organisation WikiLeaks recently launched Friends of WikiLeaks (FoWL), an encrypted social network for like-minded individuals. “Friends of WikiLeaks is a network of people from across the globe who defend WikiLeaks, its people, its alleged sources and its mission,” the website’s homepage says. “We publicly and privately promote WikiLeaks and individuals and organisations aligned with the mission of WikiLeaks. This site will help you to join with people like you in your area and across the world. You will make new friends and new allies, care for treasured values and fight in common cause.” Instead of having users find people to friend, as is the case with Facebook and Google+, Friends of WikiLeaks will assign users 12 friends each,
Facebook IPO shows galactic divide between investors
NEW YORK (Reuters) - It's no surprise to anyone that big investors get preferential treatment on Wall Street. Investors expressed disappointment, skepticism and even shock on Tuesday after learning that an analyst at lead underwriter Morgan Stanley cut his Facebook revenue forecasts in the days before the company's initial public offering - information that apparently did not reach small investors before the stock went public and subsequently tumbled. The divide between the research and retail arms of big Wall Street firms has always been deep. ...
First Earth-Size Planets Found in Space
Scientists using NASA's Kepler space telescope say they have found two planets orbiting a distant star -- and say the planets are the first ever that are the size of Earth or smaller. That could be critical in the search for extraterrestrial life.
