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Jul 10, 2012

Intel bankrolls next-gen chipmaking, buys into ASML for $4.1 billion

SAN FRANCISCO (Reuters) – Intel Corp will spend more than $4 billion to buy up to 15 percent of ASML and bankroll the Dutch company’s research into costly next-generation chipmaking technology, a major vote of confidence in the European firm that sent its U.S. shares soaring 6 percent.

Intel hopes to speed the adoption of the next generation of chip manufacturing processes from ASML by as much as two years. That will require intensive capital investment, but delivers billions of future savings by cutting chip production costs, analysts said.

Jul 9, 2012

Intel funds next-gen chipmaking, buys into ASML for $4.1 billion

SAN FRANCISCO (Reuters) – Intel Corp will spend more than $4 billion to buy a stake in ASML and bankroll its research into costly next-generation chipmaking technology, a major vote of confidence in the Dutch company that sent its U.S. shares soaring 6 percent on Monday.

Intel hopes to speed the adoption of the next generation of chip manufacturing processes from ASML by as much as two years. That will require intensive capital investment, but delivers billions of savings in future, analysts said.

Jun 27, 2012

Not all of Wall Street “friending” Facebook

SAN FRANCISCO (Reuters) – Facebook Inc may be having trouble connecting with Wall Street.

The financial houses behind Silicon Valley’s largest-ever coming-out party kicked off formal coverage of the company on Wednesday by warning about an uncertain business model, margin pressures and a difficult transition to mobile technology.

Jun 15, 2012

Facebook sketches out IPO-mess defense; CTO departs

NEW YORK/SAN FRANCISCO (Reuters) – Facebook Inc (FB.O: Quote, Profile, Research), facing a raft of lawsuits from investors seeking to recoup losses from its botched IPO, laid out on Friday how cascading Nasdaq trading glitches might have stoked the confusion that marred its May 18 debut.

The No. 1 social network and lead underwriters Morgan Stanley (MS.N: Quote, Profile, Research), Goldman Sachs Group Inc (GS.N: Quote, Profile, Research) and JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) have filed a motion requesting that dozens of shareholder lawsuits over its $16 billion initial public offering be grouped together in Manhattan federal court.

Jun 15, 2012

Facebook points at Nasdaq in legal motion

NEW YORK/SAN FRANCISCO, June 15 (Reuters) – Facebook Inc
, facing a raft of lawsuits from investors seeking to
recoup losses from its botched IPO, laid out on Friday how
cascading Nasdaq trading glitches might have contributed to the
confusion surrounding its May 18 debut.

The No. 1 social network and lead underwriters Morgan
Stanley, Goldman Sachs Group Inc and JPMorgan
Chase & Co filed a motion requesting that dozens of
shareholder lawsuits over its $16 billion initial public
offering be grouped together in Manhattan federal court.

Jun 12, 2012

Fed’s Tarullo says shadow banking creates risks

SAN FRANCISCO (Reuters) – A top Federal Reserve official on Tuesday renewed a call for checks on the so-called shadow banking system, which operates outside normal, regulated banking channels, to prevent a repeat of the panic that provoked the 2007-09 financial crisis.

Fed Governor Daniel Tarullo did not comment on the outlook for the economy or monetary policy in the speech, which covered similar ground to remarks he made last month.

May 31, 2012

Facebook makes a comeback, options volume soars

By Doris Frankel and Edwin Chan

(Reuters) – Facebook Inc bounced back from record lows in frenetic trading on Thursday to finish in positive territory for the first time in four days, lifted in late trade by a U.S. market rebound and a brokerage upgrade.

Facebook, the No. 1 Internet social network and first U.S. company to debut with a capitalization of more than $100 billion, rose 5 percent to close at $29.60. Options volume skyrocketed with bets ranging from a sharp rebound to a sustained selloff, promising more volatility to come.

May 30, 2012

Facebook shares plumb new depths, valuation questioned

SAN FRANCISCO (Reuters) – Facebook Inc shares slid below $29 to a new low on Tuesday as nervous investors fled the company’s shares, concerned about the social network’s long-term business prospects and an initial offering price that proved too rich.

Shares of the No. 1 social network fell 10 percent to an all-time low of $28.65, before closing at $28.84, or down 9.6 percent. Since its market debut at $38 on May 18, the eight-year-old company has shed approximately $25 billion in value – roughly equivalent to the market capitalization of Morgan Stanley, the lead underwriter of Facebook’s IPO.

May 29, 2012

Facebook option volume explodes as stock hits new low

SAN FRANCISCO (Reuters) – Facebook Inc shares slid below $29 to a new low on Tuesday as nervous investors fled the company’s shares, concerned about the social network’s long-term business prospects and an initial offering price that proved too rich.

Shares of the No. 1 social network fell 10 percent to an all-time low of $28.65, before recovering slightly to $29.01. Since its market debut on May 18, the eight-year-old company has shed approximately $25 billion in value — roughly equivalent to the market capitalization of Morgan Stanley, the lead underwriter of Facebook’s IPO.

May 29, 2012

Facebook shares plumb new depths

SAN FRANCISCO, May 29 (Reuters) – Shares of Facebook Inc
(FB.O: Quote, Profile, Research) slid to a new low on Tuesday at just above $30, extending
their losing streak since the controversial and glitch-ridden
market debut on May 18.

Stock of the world’s No. 1 social network briefly skirted a
record trough of $30.03 and was down 5.6 percent at $30.12 at
midmorning.

    • About Edwin

      "Based in Los Angeles, I oversee company news coverage of much of the U.S. West Coast, including such corporations as Apple, Google and Microsoft. Previously, I was bureau chief for Hong Kong and Shanghai and oversaw coverage for all corporations in China and Hong Kong."
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