Facebook Resists SEC Prodding and 4 Tech Titans on the Move
Facebook, Inc. (NASDAQ:FB) resisted prodding by the U.S. Securities and Exchange Commission to reveal additional information regarding the risks from a burgeoning user base that accesses the social-networking site via mobile devices, according to a news report. In an article by Bloomberg News, letters between Facebook and the SEC’s corporation finance division, which is in charge of what publicly traded companies must reveal in regulatory filings prior to initial public offerings. The letters, which were made public by the SEC “depict a management team hesitant to disclose information and still guessing at even rudimentary aspects of its business just weeks before the company held the largest-ever technology initial public offering,” Bloomberg News stated. “Many of the issues raised by the SEC and now unnerving investors were foreshadowed in the then-private correspondence between the SEC and Facebook.”
Apple Inc. (NASDAQ:AAPL) may send out invitations for an iPad mini event on Wednesday, according to rumors. This is late to a market with Amazon’s Kindle Fire, Barnes and Noble’s Nook Tablet, and Google’s Nexus 7 already fighting. However, Apple will probably have the ability to compete with those tablets just by its brand. Sterne Agee’s Shaw Wu stated in an analyst’s note in April that the majority of smaller tablets “have a tough enough time” competing with iPad models.
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Google Inc. (NASDAQ:GOOG) could have intentions to phase out the 16GB Nexus 7 tablet for a 32GB Nexus 7, and the 32GB version may have the same $249 price, reports Boy Genius.
Microsoft Corporation (NASDAQ:MSFT) CEO Steve Ballmer suggested that the software company would head in a new direction, and he points to hardware and online services as its future.
Intel Corporation (NASDAQ:INTC): Calxeda, which is the Austin, Texas, producer of ARM-based servers, came a bit closer to transforming into a data center alternative to Intel on Tuesday when it received $55 million in funding from a set of venture capital backers. One of them was Vulcan Capital, which was was co-founded by Paul Allen, who is an original founder of the x86-software empire. Vulcan believes that the ARM architecture, used to power cellphones, tablets, and other low-energy devices, will be a proper chip for future energy-conserving data centers. Additionally, Austin Ventures also participated in the most recent round of funding, bringing the total investment in Calxeda to more than $100 million. The company was launched four years ago and only had $48 million in backing.
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