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A fake Zynga (NASDAQ:ZNGA) transcript has been posted by the hacker collective “Anonymous,” which says that the company intends 800 additional jobs to be slashed, raise capital, outsource game development to India, and to seek a new domestic online gambling partner. Ambitiously, Anonymous also says that it will take down Facebook (NASDAQ:FB) and release Zynga games to the public on November 5th. The corect story is that last Tuesday, Zynga said that it would reduce its workforce of around 2,800 by 5 percent, but its overly large research and development budget could make more job cuts likely.
Telefonica Deutschland’s (NYSE:TEF) initial public offering’s price range has been narrowed to between €5.50 and €5.60 from the original €5.25 to €6.50, says a source. The subscription is said to have closed a few hours ahead of schedule and the first public trading is to start on Tuesday.
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Scientists at International Business Machines Corporation (NYSE:IBM) have made a breakthrough in the use of carbon nanotubes for microchips, an event that could help manufacturers continue to meet “Moore’s Law,” which is the doubling of the number of transistors which can be inserted on a single chip every 12 to 18 months. This novel technique should also permit an increase in “clock speed,” which has largely stalled.
The board of WABCO (NYSE:WBC) authorizes a stock buyback plan as much as $400 million. When combined with an ongoing plan, the firm can now buy up to $460 million worth of shares, which represents more than 12 percent of the float, through December of 2014.
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