Facebook, Inc. (NASDAQ:FB): When a company’s stock plummets, wiping out nearly $50 billion in market value within 90 days, of course, only one individual can be blamed. Although it takes tons of corporate officers, investment bankers, and a stock exchange to achieve a feat of this caliber, it is the chief executive of the company who must bear the blame. During the summer, fingers pointed at Morgan Stanley and Nasdaq, but on Tuesday, Andrew Ross Sorkin, who is the influential CNBC anchor and New York Times editor, wrote, “it’s David Ebersman’s fault. There is just no way around it.” Sorkin states that “if there is one single individual more responsible” it’s Ebersman, Facebook’s chief financial officer, since he “almost alone” pushed fore an increase in the size of the offering and agreed to raise Facebook’s IPO price to $38. Sorkin is effective in detailing Ebersman’s mistakes and miscalculations, and believes that it is remarkable that nobody has been fired for the botched offering. The shares traded down $0.31 (1.72%) recently at $17.7513.
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Apple Inc. (NASDAQ:AAPL):On Tuesday, the company sent out invitations to its most recent event, where the company is widely predicted to release its next generation of its flagship smartphone. The event, which is scheduled for 10:00 a.m. PST on Wed., Sept. 12, is to take place in the Yerba Buena Center in San Francisco, which is the long-time favorite location for the company to unveil its newest gear. Although rumors have about device have run rampant for months, the secretive company still has not released any information about it. The shares traded up $6.86 (1.03%) recently at $672.10.
Google Inc. (NASDAQ:GOOG): Although acrimony has grown between Apple and Google regarding patent infringement allegations, mainly in relation to Android, apparently, the companies are willing to talk through some of their differences. Currently, the talks have consisted of a phone conversation between Google CEO Larry Page and Apple CEO Tim Cook, that was supplemented by lower-level executive discussions, reports Reuters. The shares traded down $4.85 (0.71%) recently at $680.24.
Microsoft Corporation (NASDAQ:MSFT): Nokia (NYSE:NOK) is to launch its latest Lumia 920 smartphone tomorrow, and the Windows Phone device is to also include wireless charging, a 4.5-inch HD display, and an 8 megapixel camera, reports The Verge, citing unnamed sources. The shares traded down $0.53 (1.72%) recently at $30.29.
Intel Corporation (NASDAQ:INTC): While two top netbook vendors, Asustek Computer and Acer, both intend to cease manufacturing netbooks that run Intel Atom processors, the chip giant could be forced to adjust its roadmap for the chip set, although Atom series processors will continue to be adopted by handset and embedded products, Digitimes reported yesterday, citing industry sources. The shares traded down $0.46 (1.85%) recently at $24.37.
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