Business PR Wire

One lesson from the Facebook debut: It's much easier to turn hype into first-day profits when shares are scarce.

Facebook is minting a lot of millionaires with its IPO, but along with those tales of riches come people like a carpet salesman who may have missed out on $50 million. Reality star Ali Fedotowsky missed out too.

Those who expect Facebook's shares to collapse quickly from here should realize that this isn't your garden-variety overvalued stock.

Microsoft scored a win over Motorola Mobility Holdings on Friday as a judge ruled in favor of the software giant in a closely watched patent dispute over how mobile communication devices operate.

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Facebook rose about 11% at $42.05 out of the gate on its first day of trading as a public company, but quickly lost some steam and were hovering near the $38 IPO price.

Chinese Internet company Tencent said it will restructure its business operations to improve efficiency and move beyond its core gaming business.

Hong Kong ports-to-telecom operator Hutchison Whampoa has lost a motion in an Irish court to have its €2 billion bid for Irish telecom firm Eircom "given due consideration," according to people familiar with the situation.

A Wall Street regulator is examining trading in Groupon Inc. that sent its stock price soaring hours before a favorable earnings announcement Monday.

Facebook is ramping up its Washington lobbying operation to catch up with rivals and in anticipation its privacy practices will face heavy scrutiny for years to come.

At least 20 closely held U.S. start-ups backed by venture capital are now valued at $1 billion or more, Pinterest and Evernote among them. During the frothy days of the 1990s dot-com bubble, there were just 18 such start-ups valued at $1 billion or more.

Verizon Wireless said there was one surefire way for users to keep their all-you-can-eat plans: Pay full price for their smartphones.

Hewlett-Packard is planning to cut its workforce by 25,000 to 30,000, an expected move in the wake of the company's decision to combine two of its units.

Buying on day one for the IPO pop is an exercise in finding a greater fool. Facebook's insiders are no fools—they aren't leaving that extra money on the table by underpricing the deal.

Facebook is tinkering with ways to generate revenue beyond advertising, including by charging users to highlight their posts to all their friends.

Two Senate Democrats outlined steps that would prevent Facebook co-founder Eduardo Saverin and other wealthy Americans from escaping U.S. capital-gains taxes by becoming citizens of other nations.

Facebook is close to pricing its IPO at $38 a share, which would value the company at $104 billion. The company tried floating higher numbers to investors but was rebuffed.

GameStop cut its full-year sales forecast and reported that first-quarter earnings fell 9.8% on a double-digit drop in same-store sales. Store traffic was light, it said, and demand was weak for new hardware and software.

Pinterest, the online scrapbooking website that has become the latest Silicon Valley darling because of its rapid user growth, has raised $100 million in a financing round that values the start-up at $1.5 billion, said people familiar with the matter.

LG Electronics rolled out a new version of its flagship Optimus smartphone in its home market of South Korea on Thursday, and executives said it would be shipped to countries with high-speed LTE networks in the Americas and Europe during summer months.