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AMD's stock falls 13% after Goldman Sachs rates the stock a 'sell'

AMD's stock has fallen by over 13 percent today after Goldman Sachs' analyst James Covello downgraded their stock rating to "sell." Part of the reason for the downgrade is the faltering PC market in which sales are showing no signs of recovering.

 

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AMD has had a few big wins lately. AMD was chosen to be the component provider for both Microsoft's and Sony's new next-generation gaming consoles. However, Covello doesn't believe that's enough to justify AMD's recent high of $4.40 per share.

 

AMD's stock has fallen 12.56 percent, down $0.55 to end at $3.83. After-hours trading hasn't been nice to the chip maker, either, with its stock falling an additional $0.01.

Opera settles lawsuit with former employee over allegations of trade secret theft

Opera has already settled a lawsuit against former employee Trond Werner Hansen. Hansen was accused of taking trade secrets and proprietary information from Opera and giving them to Mozilla after he left the company. While Hansen says that the lawsuit has been settled, he can't specify the details.

 

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But I'm very happy it's over and look forward to being able to focus on my music and other projects again.

 

Opera also confirmed that a settlement was reached, but would not speak specifics:

 

I can confirm that the case against Trond Werner Hansen has been dropped by Opera by reaching an agreement which has been satisfactory to both parties.

 

We previously reported about this lawsuit when it was first filed. At the time, Opera alleged that Hansen provided information to Mozilla that he wasn't entitled to give. Hansen, meanwhile, contended that he didn't break any laws or contractual obligations.

Mt. Gox bank account seized by US Department of Homeland Security

For the most part, the recent success of the Bitcoin can be attributed to Mt. Gox, the largest and most popular Bitcoin exchange on the internet. Earlier this week the Department of Homeland Security seized the Mutum Sigilum account Mt. Gox held at Wells Fargo bank.

 

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The Mutum Sigilum account was the lifeblood of Dwolla, the PayPal like Bitcoin to US currency processor. The account was seized based on several discrepancies in the paperwork Mt. Gox owner Mark Karpeles filled when opening the account with Wells Fargo. When the application asked if Mutum Sigilum LLC was a business engaged in monetary services, Karpeles stated "No." Below is an excerpt from the actual warrant used to seize the account.

 

The application asks several questions; to include, "Do you deal in or exchange currency for your customer?" and "Does your business accept funds from customers and send the funds based on customers' instructions (Money Transmitter)?" Karpeles answered these questions "no," indicating that Mutum Sigilum LLC does not deal in or exchange money, and that it does not send funds based on customer instructions. Money transmitting businesses are required by 31 USC section 5330 to register as such with FinCEN. According to FinCEN records on May 6, 2013, neither Mt. Gox nor the subsidiary, Mutum Sigilum LLC, is registered as a Money Service Business.

Google stock closes above $900, shares continue to rise in after-hours trading

Google I/O has certainly been good to Google's stock price. After today's opening day of Google I/O, Google's stock closed at a record high of $909.38, only to raise a further $2.81 in after-hours trading. The stock price currently sits at $918.70, the highest the stock has ever been.

 

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It was just three months ago that Google's stock originally crossed the $800 mark. In the time between then and now, not much has happened. The company hasn't really announced anything revolutionary or new, though Glass Explorer Edition has been handed out to developers. Apple's stock, meanwhile, fell 3.38 percent.

Apple sued over iPhone 4 power button, lawsuit claims power button was defective

Apple has been sued over allegations that the power flex cable in the iPhone 4 was defective. According to the lawsuit, Apple decided not to disclose this defect in order to sell more units. Debra Hilton has filed a class action lawsuit in San Jose, California on behalf of iPhone 4 purchasers. The lawsuit demands over $5 million from Apple.

 

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As evidence for the lawsuit, Hilton cites posts on Apple's own forums, in which users have complained about the power button. Hilton also provides a YouTube video explaining how to repair the button and comments made by a self-described iPhone repairman that assert the power button is a common issue on the iPhone 4.

 

Apple has not yet commented on the lawsuit.

US VP Joe Biden says there is 'no legal reason' that violent media can't be taxed

According to United States Vice President Joe Biden, there is no reason that the United States government couldn't tax violent media. This means that we could soon see a violent media tax aimed at encouraging the reduction of violent media consumption. The tax would likely aim to function much like taxes on cigarettes and alcohol: to reduce consumption without making it illegal.

 

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In regards to Reverend Franklin Graham's idea of taxing violent media, Biden is quoted as telling Politico that there's "no restriction on the ability to do that; there's no legal reason why they couldn't." Funds raised by the tax would be used to help victims of gun-related violence.

 

It's not clear whether this would pass Congress or how much the tax would be. We will, of course, let you know of impending votes and other issues if this idea starts to gain traction.

Amazon picks up Liquavista, the Samsung-owned touchscreen company

Amazon has acquired Liquavista, a touchscreen company previously owned by Samsung. This acquisition has sparked rumors that Amazon could be planning to use the company's technology and expertise in future Kindle devices. A specific purchase price was not available, though the price was likely less than $100 million.

 

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Liquavista will likely lead Amazon to producing a full-color, low-power touchscreen for its Kindle line of e-readers. "We are always looking for new technologies we may be able to incorporate into our products over the long term. The Liquavista team shares our passion for invention and is creating exciting new technologies with a lot of potential. It's still early days, but we're excited about the possibilities and we look forward to working with Liquavista to develop these displays," an Amazon spokesperson said.

Amazon giving $5 in Amazon Coins to each Kindle Fire owner

Good news for all the Kindle Fire owners out there. Amazon has deposited $5 in Amazon Coins in your account. All registered owners have received 500 free coins, each valued at $0.01. These Amazon Coins are a new virtual currency started by Amazon, which was first seen in February.

 

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The money is used much like Microsoft Points or Facebook currency and can be spent on games, apps, and in-app purchases. Amazon is offering bulk-purchase discounts, which will help tempt some people into buying more than they would otherwise. Once you've converted your cash into coins, you're stuck with them.

 

"We will continue to add more ways to earn and spend Coins on a wider range of content and activities-today is Day One for Coins," Mike George, VP of games and apps at Amazon.

 

It's worth noting that other virtual currencies haven't been too successful. Facebook is working on ending Credits and many people dislike Microsoft's use of Points. We'll have to wait and see if Amazon's Coins stay around for the long haul.

Sharp to slash 5,000 jobs will refocus on smartphone displays, large HDTVs and 4K TVs

Sharp will reportedly announce a three-year recovery plan next week, and will slash 5,000 jobs as part of this recovery plan in order to turn the struggling Japanese company around.

 

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The Asahi Shimbun has reported that the number of directors and advisory positions will be slashed in half, with the number of positions at Sharp's main office in Osaka, Japan to be reduced by 50%. There will be layoffs in China and Malaysia, also. In order to increase profits, Sharp will refocus their efforts to producing more smartphone screens, big HDTVs and 4K TVs.

Activision CEO warns PlayStation 4 and Xbox 720 sales might start slow like Wii U

During Activision's recent earnings call, CEO Bobby Kotick warned that the Xbox 720 and PlayStation 4 might suffer slow sales, much like the Wii U has been experiencing since its launch last November. Kotick adds that new competition from smartphones and tablets could play into customer demand.

 

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We continue to face the uncertainties of the console transition. There are still many unknown factors, such as pricing, launch dates and quantities, the level of first-party support and, importantly, consumer purchase intent in a world where consoles are no longer just competing with each other, but also with new platforms, such as smartphones and tablets.

 

In addition, the newest console, the Wii U, has had a very slow start. All of these factors further heighten our concerns heading into the back half of the year, particularly during the very competitive fourth quarter.

 

It's worth noting that NVIDIA's upcoming Tegra 4 is capable of running games with graphics similar to those that the Xbox 360 and PlayStation 3 launched with. And with NVIDIA's Grid technology, those graphics can be improved to levels higher than the next-generation consoles are believed to be capable of.

 

Ultimately, the consoles' success depends on launch games and customer reception. Sony and Microsoft need to provide features that aren't available on alternatives at a price where consumers don't have to think too much about their budget.

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