 | Good afternoon John |  |  | What is responsible for Hewlett-Packard's bleak profit outlook? Ask CEO Leo Apotheker and he'll blame it on "missed opportunities" in a troubled division under his predecessor Mark Hurd.
Apotheker, who took over in September, plans to spend heavily to revamp the beleaguered unit to focus on consulting, cloud computing and higher-margin businesses.
Dell reported profits that blew past Wall Street estimates and raised its fiscal 2012 outlook for operating income for fiscal 2012, sending shares in the No.2 PC maker up in after-hours trading.
Social networking site LinkedIn boosted its IPO price range by 30 percent, a jump that could value the company at more than $4 billion. That's 17 times the nine-year old company's 2010 revenue. While the jump in value is a sign of the strength of investor appetite for social networking companies, some investors said they felt it had climbed too high.
Tablets have sparked much discussion at the Reuters Global Technology Summit this week. Nvidia's co-founder and CEO Jen-Hsun Huang thinks tablets using Google's Android platform – and powered by his firm's processors – could overtake Apple's iPad in under three years as better versions and more applications hit the market.
Apple, meanwhile, has proposed a standardized SIM card smaller than the ones it currently uses in the iPad that could allow the company to produce a thinner version of the device, an Orange executive told Reuters at the summit. | | | LATEST NEWS | | FCC asks Apple, Google to location-tracking forum | | May 17, 2011 05:08 PM ET | | WASHINGTON (Reuters) - In its first look at the growing controversy about location tracking by smartphones, the Federal Communications Commission has invited Apple, Google and consumer advocates to a forum in late June. | Full Article | | Apple plans smaller SIM card | | May 17, 2011 03:24 PM ET | | PARIS (Reuters) - Apple has proposed a standardized SIM card smaller than those it currently uses in the iPhone and iPad to be able to produce thinner devices, an Orange executive told Reuters on Tuesday. | Full Article | | Sony defends response time to hacker breach | | May 17, 2011 05:48 PM ET | | NEW YORK (Reuters) - Sony Corp's CEO was unapologetic about the company's delay in informing the more than 100 million customers of its PlayStation Network whose account information was stolen by hackers last month. | Full Article | | | BUSINESS NEWS
| | Economic data suggests soft patch continues | | May 17, 2011 05:45 PM ET | | WASHINGTON (Reuters) - U.S. factory output slipped for the first time in 10 months in April as a shortage of parts from Japan crimped activity and home building slumped, showing the economy got off to a weak start in the second quarter. | Full Article | | Wal-Mart tops view; key sales down 1.1 percent | | May 17, 2011 11:44 AM ET | | CHICAGO (Reuters) - Wal-Mart Stores Inc's U.S. same-store sales have fallen for two straight years, as customers struggle with high unemployment and wages that are not keeping up with rising prices for food and other basics. | Full Article | | Probes into banks' mortgage lending grow | | May 17, 2011 01:56 PM ET | | NEW YORK/CHARLOTTE, North Carolina (Reuters) - The New York attorney general's office has requested information from three major banks about their mortgage operations, according to a source familiar with the matter. | Full Article | | HP slashes outlook, spends on services overhaul | | May 17, 2011 02:10 PM ET | | NEW YORK (Reuters) - Hewlett-Packard Co slashed its 2011 profit forecast as it prepares to spend heavily to revamp a troubled division that provides everything from computer maintenance to high-level tech consulting, sending its shares tumbling over 7 percent. | Full Article | | Jailed IMF chief faces pressure to quit | | May 17, 2011 05:42 PM ET | | NEW YORK/BRUSSELS (Reuters) - Dominique Strauss-Kahn faced growing pressure to quit as head of the International Monetary Fund on Tuesday and countries staked out positions in the battle for the Fund's top job. | Full Article | | | | U.S. TOP NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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