Individual investors were left guessing for more than two hours on Friday about whether their buy and sell orders for newly issued Facebook shares had been actually executed.
The Nasdaq Stock Market, where Facebook is listed, had problems sending electronic messages back to the brokerages that handle orders from individual, or “retail,” investors, according to people with direct knowledge of the situation.
Because the electronic acknowledgements didn’t come back from the exchange, the brokers were unable to tell their clients that trades had been executed. Such acknowledgements usually occur almost instantaneously.
“Nasdaq’s delay in passing back executions is causing a lot of heartburn on the Street,” said one source. “We had to tell clients we didn’t get the print back,” said another.
READ MORE: Facebook investors left guessing after Nasdaq glitch
Live coverage of the Facebook IPO
Facebook employees high-five each other before entering the company’s headquarters in Menlo Park before the company’s IPO launch, May 18, 2012. Facebook Inc, will begin trading on the Nasdaq market on Friday, with it’s initial public offering at $38 per share, valuing the world’s largest social network at more than $100 billion. REUTERS/ Beck Diefenbach
Baby Android: Thanks in part to the Oracle v. Google lawsuit, the earliest known Android development phone has surfaced. The Google Sooner, built by HTC, lacked a touch screen and a WiFi card. The operating system was built four months after the debut of the original iPhone in 2007. It’s a fascinating piece of technology that offers a glimpse into Android’s infancy. [Photos: Steven Troughton Smith]
High Caffeine: The Google Sooner development phone
Source: producermatthew
A Northern California jury on Monday found that Google Inc infringed upon Oracle Corp’s copyrights on the structure of part of the Java software programming language, in a high stakes trial over smartphone technology.
However, the jury failed to decide after days of deliberation whether Google had the right to fair use of that copyrighted structure.
The verdict on copyright was read in a San Francisco federal courtroom.
Exclusive: Apple courts Hollywood for upcoming TV
Apple Inc began talks earlier this year to stream films owned by EPIX, which is backed by three major movie studios, on devices including a long-anticipated TV, according to two people with knowledge of the negotiations.
Apple, which now sells a $99 set-top box that hooks up to a television set and lets users stream online content from Netflix and the MLB channel, opened discussions with three-year-old EPIX, created by Lions Gate Entertainment Corp, MGM and Viacom’s Paramount Pictures.
One of the sources told Reuters that any discussions would apply to its set-top box and also to upcoming devices that stream content. Apple is widely expected to unveil a full-fledged TV product later this year or in early 2013 to drive its next phase of growth and potentially revolutionize the industry.
Apple Inc (AAPL.O) on Tuesday reported quarterly revenue that handily beat Wall Street estimates, driven by strong demand for its iPhones and iPads, sending its shares 3.5 percent higher.
The consumer electronics giant said its fiscal second-quarter revenue rose to $39.2 billion, better than the average analyst estimate of $36.8 billion, according to Thomson Reuters I/B/E/S.
READ MORE: Apple revenue jumps, beats Wall Street view
Tech Tonic: Rocky first year for Larry Page as Google CEO
It is one year since Google co-founder Larry Page took the reigns as CEO of the Internet search giant. Anthony De Rosa looks at Page’s accomplishments and failures of the past year and what he has planned for the future.
Apple and its China manufacturing partner, Foxconn, agreed to improve wages and working conditions at factories accused of being sweatshops, a move that could set a new higher-cost benchmark for other Western users of Chinese labor.
Under Thursday’s landmark agreement, Foxconn will hire tens of thousands of new workers, eliminate illegal overtime, improve safety protocols and upgrade worker housing and other amenities.
This graphic looks at different aspects of the Apple-Foxconn workforce. See how many people work in the factories, some statistics about their background, the hours they work and their compensation.
READ MORE: Apple, Foxconn set new standard for Chinese workers
Apple Inc’s Tim Cook, on his first trip to China as the chief executive officer, has visited an iPhone production plant run by the Foxconn Technology Group, which is being accused of improper labor practices.
China is the world’s largest mobile market and already Apple’s second-biggest market overall, but its growth there is clouded by issues ranging from a contested iPad trademark to treatment of local labor.
Picture handouts dated March 28 and e-mailed to Reuters show Cook seen smiling and meeting workers in the newly built Foxconn ZhengzhouTechnology Park in the north central province of Hebei. The facility employs 120,000 people, the handouts said.
Foxconn is a major part of Apple’s global supply chain, assembling most of its iPhones and iPads, but has been hit by a string of worker suicides in recent years that activist groups blame on tough working conditions.
Apple Inc’s new iPhone will have a sharper and bigger 4.6-inch “retina” display and is set to be launched around the second quarter, a South Korean media reported on Thursday.
Sales of the iPhone, first introduced in 2007 with the touch screen template now adopted by its rivals, account for around half Apple’s total sales.
Apple has decided on the bigger 4.6-inch display for its next iPhone and started placing orders to its suppliers, the Maeil Business Newspaper said, quoting an unnamed industry source.
