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The Register - Business: Financial News
Biting the hand that feeds IT

Facebook jumps then slumps in first few minutes trade
18 May 2012 at 11:18am
Round and round she goes, where she stops....

Facebook's shares debuted on the Nasdaq today at $42 and immediately skidded downwards to the original IPO price of $38.?

Ethernet sales slumped a bit and caused Brocade's second 2012 quarter results to stumble.?

Facebook has decided it is worth US$104b, valuing each of the shares that will go on sale early Friday US time at US$38.?

Shares in Samsung have fallen over 6 per cent on news that Apple preferred to place huge chip orders with bankrupt firm Elpida Memory.?

Supply shortages for 28 nanometer GPUs from fab partner Taiwan Semiconductor Manufacturing Corp adversely impacted GPU chip and coprocessor maker Nvidia once again in its most recent quarter.?

Groupon significantly reduced the amount of money it lost in the first quarter of this year, only ending up with a net loss of $11.7m compared to a loss of $146.5m in the same quarter of 2011.?

Facebook has reportedly raised the price range on its IPO shares from the $28-$35 range to $34-$38 each, as the growing interest of investors has boosted the valuation of the firm to up to an eye-watering $104bn.?

Sony shares dropped to a 30-year low on the Tokyo Stock Exchange today after reporting a record loss of $5.7bn.?

Facebook's IPO is already oversubscribed with too many investors eyeing up more shares than those available, according to a well-placed source.?

Disasters both natural and manmade have led to tech megacorp Sony reporting a record loss for the fiscal year ending in March.?

Storage software and hardware provider Quantum Corp is shrinking ? not a lot, but it's visible ? yet it wants to grow so very much. It has decided to ship Amplidata object storage technology for big data as its latest growth strategy. Will it succeed??

Alternatives to traditional credit and debit cards are now processing ?165bn ($214bn, £133bn) annually ? 22 per cent of global e-commerce ? and that's just the start as the next generation of consumers grows up without seeing a plastic card.?

BT's Openreach division was the only wing of the company's business to up its sales figures compared with the same period a year earlier, but all other areas of the national telco's biz saw revenue decline for the year ended 31 March 2012.?

Cisco Systems hit its revenue and profit targets for the third quarter of its fiscal 2012 ended in April. But the networking giant and systems player will probably take a few lumps because of the candor of CEO John Chambers.?

If ever you needed a salutory tale about the perils of sitting on your laurels, then STEC, once EMC's SSD darling and pioneering enterprise flash high flier, can provide it in spades. First movers have got to be fast and STEC was unconscionably slow.?