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A case that possibly marks the “end of a marriage” between tech giants Oracle (NASDAQ:ORCL) and Hewlett Packard (NYSE:HPQ) started its certainly acrimonious course today in the courtroom of Santa Clara Superior Court Judge James Kleinberg. The high-profile case, with HP seeking $4 billion in damages from Oracle, could be the media’s delight with personalities such as Larry Ellison, Mark Hurd and HP’s Ann Livermore taking the stand.
Salesforce.com (NYSE:CRM) has beaten out other tech biggies for a deal that may be the newest signal that social media marketing is the next big buzz. The company announced on Monday that it had completed its acquisition of social media marketer Buddy Media in a nearly $700 million cash-and-shares deal.
Facebook (NASDAQ:FB) faced another rough day in the markets. Its shares dropped 82 cents per share (almost 3%) to close at $26.90. Earlier in the day, Bernstein Research analyst Carlos Kirjner initiated coverage on the stock and gave it an “Underperform” rating, or the equivalent of sell with a $25 price target, reported MarketWatch. Kirjner wrote in his research note that Facebook is about to face several issues that could affect its revenue growth.
On Monday, an extraordinarily large number of external shareholders voted against the election of Wal-Mart’s (NYSE:WMT) top leadership through their more than 30% of votes against the company’s chairman, CEO and former CEO, according to a New York City Office of the Comptroller analysis. The negative vote comes after the New York Times reported that the company had supposedly authorized millions of dollars in Mexico bribes to speed up the receipt of building permits.
Apple (NASDAQ:AAPL) is planning to update at least four of its five Mac lines on June 11 as it kicks off its Worldwide Developers Conference with a keynote led by CEO Tim Cook, according to a 9to5Mac report. If sources are correct, WWDC 2012 could be the biggest simultaneous launch of new Macs in Apple’s history.
Facebook (NASDAQ:FB) underwent another down day on Tuesday with a 3.83 percent decline to $25.87. Not helping matters was a new Reuters/Ipsos poll that disclosed a declining interest in the social networking site and only a minority of users letting ads and comments affect their purchasing decisions.
JPMorgan (NYSE:JPM) CEO Jamie Dimon has been invited to Washington to tell lawmakers about his firm’s recent losses. Senate Banking Committee Chairman Tim Johnson said Dimon’s presence has been requested for June 7, when he will be asked to testify about his bank’s $2 billion-plus trading loss. Johnson wants an explanation as to how Dimon’s company lost billions in a matter of only weeks. He hopes they will be able to “get to the bottom of the massive trading loss” by speaking with Dimon.
Amyris Inc. (NASDAQ:AMRS) jumped 39 percent to $3.23 on Tuesday after it said its renewable jet fuel will be used in a flight demonstration during the upcoming Rio+20 United Nations Conference on Sustainable Development. According to MarketWatch, Amyris’s jet fuel is plant-based and made with Brazilian sugar cane. The flight will occur on June 19 and will include an Azul E195 aircraft utilizing General Electric (NYSE:GE) CF34-10E engines.
Akamai Technologies Inc. (NASDAQ:AKAM) saw it shares drop 6.5 percent on news that Netflix Inc. (NASDAQ:NFLX) will launch a content delivery network; this comes in an effort to cut its dependence on third-party vendors. Limelight Networks Inc. (NASDAQ:LLNW) shares dropped 12 percent from the news as well.
Investing Insights: Apple to Tablet Competitors: We’re on Top of the Game!
Leaks are turning into floods as whisperings and conjecture grow into full-fledged rumors ahead of Apple’s (NASDAQ:AAPL) Worldwide Developers Conference. While a new software launch seems likely, what everyone really wants to know is what new products Apple will present next week. Most of the attention has been centered on the Mac lineup, which has grown stale in recent years as Apple focused more on its mobile devices.
MUST-READ: WWDC 2012: Your Cheat Sheet to Apple’s Main Event >>
Facebook (NASDAQ:FB) announced Thursday it plans to launch an app center for its mobile platform that would allow users to get personalized app recommendations on their smartphones. The app store will let users download Facebook-integrated apps for both Apple’s (NASDAQ:AAPL) iOS and Google’s (NASDAQ:GOOG) Android devices, including popular apps like Instagram, Pinterest, and Draw Something.
As Nokia (NYSE:NOK) struggles to find its lost footing in the global phone market, several options have been suggested for the once-leader to make a new mark in today’s smartphone-focused world. While many think Microsoft (NASDAQ:MSFT) would be the obvious pick for a takeover bid for Nokia, with which it entered into a partnership to launch the Lumia line, technology analyst Jeff Kagan has a suggestion for a variation on that arrangement.
NetApp Inc. (NASDAQ:NTAP) fell $0.98 cents a share, or more than 3 percent to $30.35. Barclays analyst Ben Reitzes slashed his rating on the stock to “Equal Weight” or “Neutral” from “Overweight.” He said the company will face increasing competitive pressure for several months, according to MarketWatch.
Chesapeake Energy Corp.’s (NYSE:CHK) shares increased 2.1 percent after it announced that it will see more than $4 billion in proceeds from selling assets from its energy pipeline and infrastructure business. The company plans to sell its shares in Chesapeake Midstream Partners (NYSE:CHKM) for $2 billion to Global Infrastructure Partners and Chesapeake Midstream Development L.P. and other related assets to Global Infrastructure Partners for $2 million-plus in cash.
Investing Insights: Cash-Strapped Chesapeake Energy is Selling Assets.
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