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Jury selection will begin today in the Oracle (NASDAQ:ORCL) and Hewlett-Packard (NYSE:HPQ) trial over their dispute of Oracle’s decision in 2011 to stop developing its database software for some H-P server systems. Meanwhile, at the D10 conference on Wednesday, Oracle’s CEO Larry Ellison said in an interview that on June 6, the company will release a broad collection of cloud-based tools in an effort to stay competitive.
Investing Insights: Wall St. Brief: FTC Hates on Facebook and Why RIMM CRASHES.
JPMorgan’s (NYSE:JPM) CIO may have been marking its trades at different values as opposed to the bank’s credit swaps desk, reported Bloomberg. With positions that large, even a slight change in the marks could have enabled the division to hide big losses. Former Lehman CFO Brad Hintz and now Sanford Bernstein analyst said, “That’s why you have a centralized accounting group that’s comparing marks” between different parts of the bank “to make sure you don’t have any outliers.”
On Thursday, Samsung Electronics Co. launched its new smartphone, Galaxy S3, in India at INR 43,180; this comes in higher than the prices of the Galaxy S2 phone. The third generation of the Galaxy S series includes a face-recognition technology, an improved voice-activated control and an improved processor that enables users to simultaneously watch video and compose emails, reported MarketWatch.
US Airways (NYSE:LCC) and TPG Capital may partner and bid for AMR Corp (AAMRQ.PK), reported Reuters. By teaming up with TPG, it would provide US Airways with additional financial flexibility for its bid and increased credibility. The talks will not be exclusive and the companies will explore other options.
Carl Icahn will back a minority lineup for his board of directors’ choices at Forest Laboratories’ (NYSE:FRX) next shareholder meeting after failing to see his nominees elected last year during his efforts for a shakeup. With his 9.92 percent stake, Icahn sits as Forest Labs’ second-largest shareholder.
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