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. ...

Watch: TechBytes 5.17.12
Google introduces their new "knowledge graph" search function.

Facebook looks to settle 'sponsored story' suit
Facebook is close to settling a lawsuit over advertisements it calls "sponsored stories."

The numbers on the Facebook earnings revisions
SAN FRANCISCO (Reuters) - Four of Facebook's major underwriters -- Morgan Stanley, Goldman Sachs, JPMorgan and Bank of America -- reduced their financial estimates for the soon-to-be-public company following the release of a revised prospectus on May 9 that noted the negative impact of mobile users on Facebook's business. While Facebook did not provide any specifics in its amended S-1 filing, the four underwriters reduced their earnings and revenue estimates for both the second quarter of 2012 and the full year within the next two days, according to sources. ...

Take-Two 4Q loss triples but sales beat forecast
Take-Two Interactive Software Inc. said Tuesday that its fourth-quarter net loss more than tripled as revenue fell and the video game maker failed to repeat the success of "Red Dead Redemption" from a year ago.

Photos: Black Hole Shreds Star
The Lyrid meteor shower was so bright that it could been during the day and night from California to Nevada.