Is the intervention of Congress and the SEC what we really need?
Griping about the process by which companies go public is a pastime nearly as venerable as the IPO itself. Indeed, it’s a rare deal that makes everyone – the company itself, potential and actual investors and the bankers being paid for undertaking the process – happy. A typical transaction usually results in at least one of the following: underwriters disappointed that they weren’t able to maximize (or hang on to) the fees they earned in the transaction; the company fretting that the IPO was mispriced or that shares are going to end up in the hands of hedge funds who will simply “flip” them; or investors upset that they never seem to get a large enough allocation of the hottest deals.
And then there was the Facebook (FB) IPO, in which pretty nearly everything went wrong. That’s why we now see the rare spectacle of a Congressional committee – the members of which always seem willing and eager to jump on any issue that will get them some headlines and face time on television during an election season – asking the SEC to address a series of questions about the fairness of the IPO process.
The enterprise-focused social network will join the company's Office division.
By Nathan Ingraham
It's been rumored for a while now, but the deal is now official: Microsoft (MSFT) just announced it is buying enterprise-focused social networking provider Yammer for $1.2 billion. (Microsoft owns and publishes TechBiz, an MSN Money site.) Yammer will join Microsoft's Office division, with the team continuing to report to its current CEO David Sacks.
The tech giant should stop flirting with the TV business and think about an unlikely marriage with the electric car maker.
In this article, I deal with two related issues:
1. Driving the Tesla (TSLA) Model S for the first time, why are the investors so surprised that it is so awesome?
2. Should Apple (AAPL) expand its product line into TVs -- or cars?
Last Friday saw Tesla's first customer deliveries of its Model S to non-insiders. The goal is to ramp production from one car per day now to 80 cars per day by November, for a total of 5,000 delivered by the end of the year. Next year, the goal is to deliver at least 20,000 cars, probably with some upside from the Model X minivan, which launches at the end of 2013.
One analyst thinks Facebook's massive global scale and reach could lead to $8 billion worth of display revenue by 2016.
Nomura analyst Brian Nowak initiated coverage on the social networking giant with a "buy" rating and a $40 price target, an increase of just over 25% on Thursday's closing price of $31.84. Despite near-term issues and concerns about being able to monetize its 900 million users, Nomura believes there are three ways Facebook can improve its ability to generate long-term revenue: charging for branded pages, improved advertising units, and generating revenue from mobile.
The software giant may need to price the Surface at a loss to compete.
By Therese Poletti
The young tablet market is already littered with floundering or failed devices.
With the tablets such as Motorola's Xoom, Hewlett-Packard (HPQ) TouchPad, to Research In Motion (RIMM) PlayBook, Microsoft (MSFT) has plenty of failures to learn from, including its own previous ill-fated attempts, when it rolls out the Surface later this year. (Microsoft owns and publishes TechBiz, an MSN Money site.)
While some of the aforementioned tablets aren't necessarily finished yet, the market is still led by Apple (AAPL) and the iPad. The only device to really knock out some of its dominant market share so far has been Amazon.com's (AMZN) cheaper Kindle Fire, which has since lost some momentum that it had last December.
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[BRIEFING.COM] The S&P 500 ended this week with a bang, roaring to a new all-time high on the back of stronger-than-expected economic data, influential leadership, and an ongoing appreciation for the Fed's monetary policy support.
The bullish bias was evident in premarket action as the S&P futures pointed to a higher start without the benefit of any definitive news catalyst. Stocks indeed benefited from a blast of buying interest at the opening bell on this ... More
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