MediaFile

Tech wrap: HP investors running for cover

Shares of Hewlett-Packard slumped by more than 20 percent to a six-year low on Friday as investors wiped about $16 billion off the market value of the world’s biggest PC maker in a resounding rejection of its plan for a major shake-up.

Blog Zero Hedge posted an article by Tyler Durden, titled “Here Is Who Is Getting Creamed On Today’s Hewlett Packard Bloodbath“, that includes a chart of the the top 40 holders of HPQ stock.

Reuters blogger Felix Salmon credits Durden with breaking the “real” news yesterday about HP, after Bloomberg broke the M&A news of the IT firm’s internal shakeup and it’s $10 billion acquisition of UK company Autonomy. Salmon on the scoop: “…looks like an attempt by HP to manage media coverage and to distract attention from its dreadful earnings guidance.”

Technology company Apple is now worth as much as the 32 biggest euro zone banks. That’s the stark result from a steep fall in the share price of banks including Spain’s Santander, France’s BNP Paribas, Germany’s Deutsche Bank and Italy’s Unicredit, compared to a steady rise in Apple’s valuation, according to Thomson Reuters data.

Earlier on Friday the DJ STOXX euro zone banks index fell 4 percent, valuing its 32 members at $340 billion. In contrast, Apple’s market capitalization has soared to $340 billion.

Tech wrap: Apple vs HTC, round two

Apple has kicked its intellectual property dispute with Taiwanese smartphone maker HTC up a notch. The company filed a new complaint against HTC with a U.S. trade panel over some of its portable electronic devices and software, according to the panel’s website.  Apple filed a similar action against the company last year and could be trying to strengthen the case against its rival by adding new patents to its claim this time around, notes AllThingD’s John Paczkowski. “It’s another broad warning to the industry,” he writes.“If you’re bringing a new smartphone to market, you had better make damn sure it doesn’t infringe on Apple’s IP.”

The first e-reader to fully integrate Google’s eBooks platform into its design goes on sale exclusively at Target stores across the U.S. next weekend, Google said in a blog post.  The iRiver Story HD lets users buy and read e-books from the service over Wi-Fi and store their personal collections in the cloud. Google offers more than 3 million free titles for download through its eBooks service, with hundreds of thousands more for sale.

LinkedIn, the online networking website aimed at professionals, surpassed Myspace in June to become the second-most popular social network in the United States, according to a new survey from comScore. Just how much more popular is LinkedIn now? According to the figures, LinkedIn had 33.9 million unique visitors in June, a jump of about a half a million from May. Myspace, on the other hand, saw its traffic decline to 33.5 million American visitors, a drop of about 1.4 million users from the previous month.

The end of the story…

……is the cash cow for Chinese company Shanda Literature Ltd, a
subsidiary of Shanda Interactive Entertainment.

The company’s business model is simple: read the first half
of a book online for free, and if you want to know the rest
(which usually is the case if you have read that far) you need
to pay for it. Revenues are split with the stories’ authors.

In China, this proves to be successful. According to Shanda
Literature CEO Hou Xiaoqing, the company now has cash reserves
of $1.8 billion, with 800,000 authors creating up to 80,000 new
pages of content per day, he said at the Frankfurt Book Fair.

from Commentaries:

Twitter backlash foretold

Technology market research firm Gartner Inc has published the 2009 "Hype Cycle for Emerging Technologies," its effort to chart out what's hot or not at the cutting edge of hi-tech jargon. It's just one of an annual phalanx of reports that handicap some 1,650 technologies or trends in 79 different categories for how likely the terms are to make it into mainstream corporate parlance.

Jackie Fenn, the report's lead analyst and author of the 2008 book "Mastering the Hype Cycle," delivers the main verdict:

Technologies at the Peak of Inflated Expectations during 2009 include cloud computing, e-books (such as from Amazon and Sony) and internet TV (for example, Hulu), while social software and microblogging sites (such as Twitter) have tipped over the peak and will soon experience disillusionment among corporate users.