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Research In Motion, the embattled BlackBerry maker, said Tuesday it has hired JPMorgan and RBC Capital Markets to review the company's business and financial performance. » Read More
- Tuesday, 29 May 2012 4:45 PM ETBy:
CNBC.com with Reuters 
Nsd / APResearch In Motion [RIMM Loading... ()
], the embattled BlackBerry maker, said Tuesday it has hired JPMorgan and RBC Capital Markets to review the company's business and financial performance. RIM, which has seen its market share eroded in recent years to Apple [AAPL Loading... ()
] and Google [GOOG
Loading...
()
], made the announcement after the bell. The company also said it expects an operating loss in the current quarter.After being halted briefly, RIM shares fell sharply in after-hours trading. (Click here for the latest quote).
- Tuesday, 29 May 2012 3:27 PM ETBy:
Courteney Palis, The Huffington Post
The date's already been set for Apple's [AAPL Loading... ()
] much-anticipated Worldwide Developers Conference (WWDC), but the company has managed to drum up even more hype with the release of the event's official schedule, which includes a time for the keynote address, during which the company usually unveils its newest products and plans.
» Read More - Tuesday, 29 May 2012 3:04 PM ETBy: Cadie Thompson
Facebook's volatile IPO was the result of disparate opinions about how to value the social network's 900 million users, according to a recent report by the Wharton Business School at the University of Pennsylvania.
Juan Mabromata | AFP | Getty Images"The question for valuation is you need to have both some sort of comparable and some sense of where the numbers are going, and the problem is neither of those are really clear in the case of Facebook," said Ethan Mollick, Wharton Assistant Professor of Management, on CNBC's Squawk on the Street. "Is it a TV network in comparison? Is it Google [GOOG Loading... ()
]? Is it something entirely new? And on the underlying numbers it's all about potential. We don't know where the numbers are heading. There's a lot of debate over that. If it's just about pricing the stock where it is today, the value is obviously a lot lower than $100 billion." - Tuesday, 29 May 2012 12:25 PM ETBy:
Reuters Facebook shares fell below $29 to close at a new low on Tuesday as nervous investors fled the company's shares, concerned about the social network's long-term growth prospects and an initial offering price that in retrospect may have been too rich.
Emmanuel Dunand | AFP | Getty ImagesShares of Facebook [FB Loading... ()
] fell 9 percent to close at $28.84 a share on Tuesday.The eight-year-old company, which began life in Mark Zuckerberg's dorm room, has now shed around $25 billion in value since its controversial and glitch-ridden market debut at $38 on May 18.
Three-quarters of the S&P 500's companies have a market cap of less than $25 billion. The company's market cap now stands at $79 billion while Zuckerberg's shares are now valued at $4.6 billion less than the day of the IPO.
A software error on Nasdaq OMX Group's [NDAQ Loading... ()
] U.S. exchange delayed the start of trade by 30 minutes on Facebook's first day of trading, which was to have been the culmination of breakneck growth for the cultural and Internet phenomenon. » Read More - Tuesday, 29 May 2012 12:09 PM ETBy:
Reuters
Sprint Nextel said on Tuesday it arranged a credit facility of $1 billion to buy network equipment from Ericsson for its high-speed wireless project.
David Paul Morris/Bloomberg via Getty ImagesThe Sprint Nextel Corp. sign is seen on the facade of a Sprint Nextel Corp. store in San Francisco, California.Sprint [S Loading... ()
], the No. 3 U.S. mobile provider that has been working to eliminate a estimated funding gap of $5 billion to $7 billion, said it entered the credit agreement, which expires in March 2017, with Deutsche Bank and a syndicate of other banks. » Read More - Tuesday, 29 May 2012 10:21 AM ETBy:
AP
Social media sites and blogs have lit up after eagle-eyed viewers spotted a surprise cameo in a Chinese TV documentary about the country's police force: Facebook founder Mark Zuckerberg and his now-wife, Priscilla Chan.
Getty ImagesMark ZuckerbergThe documentary by CCTV was part of a series on Chinese police and high-tech crime-solving methods. A few seconds of footage showing Zuckerberg and Chan walking behind two police officers were shown included in a brief clip posted online by the Hebei province satellite station. » Read More
- Tuesday, 29 May 2012 7:58 AM ETBy:
Reuters Opera Software
shares soared over 20 percent on Tuesday on talk Facebook was in discussion to buy the firm, while analysts said competition from Google and others could push the price tag of any deal over $1 billion.
Shares of Oslo-listed Opera, coveted for its advanced mobile phone software technology, jumped as much as 26 percent, valuing the firm at over $800 million.
Danita Delimont | Gallo Images | Getty ImagesOpera's mobile technology, along with 170 million Opera Mini users, give the firm extensive commercial relationships with mobile phone manufacturers and operators.
Facebook [FB Loading... ()
]has struggled to convert its rapidly increasing traffic from mobile platforms to revenue, and purchasing Opera would be a faster solution than building its own platform or browser, analysts added. » Read More - Saturday, 26 May 2012 5:20 PM ETBy:
Reuters Research in Motion [RIMM Loading... ()
] is preparing for a major restructuring beginning in the next couple of weeks that will see it eliminate at least 2,000 jobs worldwide, the Globe and Mail reported on Saturday, citing unnamed sources. 
Bay Ismoyo | AFP | Getty Images - Saturday, 26 May 2012 1:37 PM ETBy:
Reuters Dead silence.
For nearly 20 minutes on the morning of Facebook's [FB Loading... ()
] trading debut last Friday, the line Nasdaq had opened up to keep traders informed about the social media company's $16 billion IPO had been mute. 
Ted Aljibe | AFP | Getty ImagesWell after the stock was supposed to have opened at 11 a.m. New York time, no one from Nasdaq was talking—and there was still no sign of trading.
Finally, at 11:28 a.m., an unidentified person announced that the shares would open in about 2 minutes.
Nasdaq also said orders and cancellations were still being processed, according to several sources listening to the call.
Those crucial 20 minutes created confusion that turned into chaos over the next few hours as market makers—the brokers who quote bid and offer prices—struggled to figure out what was happening.
- Friday, 25 May 2012 2:56 PM ETBy:
Robin Wilkey, The Huffington Post
"I knew what I wanted to do when I got out of the military," said Nick Frost, a 24-year-old U.S. Navy veteran in an interview with The Huffington Post. "But for those who don't, returning home can be a confusing time. And the day you leave the military, that's basically the end of your support."
Getty ImagesFrost launched his company StartupLi.st from a tent in Northern Afghanistan. Now, he's a startup evangelist at AngelList, one of the hottest startup investment platforms in Silicon Valley.
Katherine Webster is from a military family. Her father was born on Memorial Day and served in both the Army and the National Guard. » Read More
- Friday, 25 May 2012 2:41 PM ETBy:
Reuters
Citigroup's Automated Trading Desk (ATD) had trading losses of around $20 million stemming from Facebook's botched initial public offering on Nasdaq OMX Group's U.S. exchange, a source with knowledge of the situation said on Friday.Emmanuel Dunand | AFP | Getty ImagesThe unit's losses were in addition to claims by market makers Knight Capital Group and Citadel Securities, which each had losses of $30 million to $35 million.
UBS AG, the other large market maker involved in the IPO of the social networking company on May 18, has not disclosed any losses.
Nasdaq asked firms to detail estimates of losses by Monday night. After that, the Financial Industry Regulatory Authority will evaluate the filings and put out a report on the matter in about four weeks, two sources said.
A technical glitch delayed Facebook's IPO [FB Loading... ()
] by 30 minutes and many client orders were delayed, giving some investors and traders significant losses as the stock price dropped. The exchange operator is facing lawsuits from investors and threats of legal action from brokers.
- Friday, 25 May 2012 1:58 PM ETBy:
Reuters
Dell is in talks to buy Quest Software, the network security software maker that had earlier agreed to be acquired by Insight Venture Partners for $2 billion, Bloomberg reported, quoting sources.
Quest shares were up 5 percent at $26.45 in early trading on Friday on the Nasdaq. » Read More
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