Technology Report: Intel-backed Synacor revives IPO plans

If you are having trouble viewing this email or would like to view it in your web browser, CLICK HERE
	11/18/2011
Good afternoon When Ray Lane took over as chairman of Hewlett-Packard Co a year ago, little did he know that he would soon be presiding over another ugly CEO transition and drawing withering criticism for what investors and analysts viewed as incompetence on the part of the HP board. Now, as executive chairman, the respected Silicon Valley veteran and Kleiner Perkins Caufield & Byers venture capitalist has his reputation on the line as he tries to get the iconic computer maker back on track. The Wall Street Journal reports that Clearwire may decide to skip on a big, looming debt payment. The company can afford to make the payment, but it also needs to raise lots of money to stay in business after the next 12 months. Thus it's debating the unusual step of failing to make a payment. Investors did not take kindly to the news, sending the stock down 30 percent. Teardown experts at IHS iSuppli found it costs Amazon $201.70 to build the new Kindle Fire, less than $3 above the $199 retail price. Computerworld reports that many analysts expected Amazon to take a much larger loss on the device, if only to compete against other tablets such as the iPad 2, which has a starting price of $499 or the Nook Tablet at $249. Amazon is expected to make up the loss with products and apps sold through the device. Logitech, which lost tens of millions of dollars building set-top boxes for Google TV, would back the project again, but would be much more cautious, its chief executive said. Guerrino de Luca told Reuters that set-top boxes for Google TV, coupled with a failed revamp of European retail operations, in total cost the company around $100 million. Federal investigators are looking into a report that hackers managed to remotely shut down a utility's water pump in central Illinois last week, in what could be the first known foreign cyber attack on an industrial system on U.S. soil. LATEST NEWS Intel-backed Synacor revives IPO plans November 18, 2011 04:09 PM ET (Reuters) - Synacor Inc, partly owned by Intel Corp, filed with U.S. regulators on Friday to raise up to $75 million in an initial public offering, reviving its plans to tap the public markets after three years. | Full Article Amazon may launch a smartphone in Q4 2012: report November 18, 2011 12:48 PM ET (Reuters) - Amazon.com Inc may launch its own smartphone in the fourth quarter of 2012, Citigroup said, citing its supply-chain channel checks in Asia. | Full Article U.S. investigates cyber attack on water system November 18, 2011 03:23 PM ET (Reuters) - Federal investigators are looking into a report that hackers managed to remotely shut down a utility's water pump in central Illinois last week, in what could be the first known foreign cyber attack on an industrial system on U.S. soil. | Full Article Wall St. closes worst week in 2 months November 18, 2011 04:23 PM ET NEW YORK (Reuters) - The worst week for U.S. stocks in two months ended with investors mostly on the sidelines on Friday as they wait for politicians in Europe and the United States to tackle festering debt problems. | Full Article Brussels seeks tight budget control, ECB impatient November 18, 2011 04:20 PM ET BRUSSELS/FRANKFURT (Reuters) - The European Commission is seeking far tighter control of national budgets to combat the euro zone's debt crisis, a senior official said on Friday, as the ECB's chief urged rapid action on a euro zone fund for rescuing countries in trouble. | Full Article BUSINESS NEWS Insight: The Wall Street disconnect November 18, 2011 11:00 AM ET NEW YORK (Reuters) - It was a telling moment at the height of the Occupy Wall Street protests. | Full Article MF Global UK administrators mulls interim payments November 18, 2011 12:53 PM ET LONDON (Reuters) - MF Global's administrator KPMG has told the failed futures broker's clients they will get back much-needed funds before it had finally settled all positions. | Full Article UPS raising rates in 2012, most by 4.9 percent or more November 18, 2011 04:39 PM ET (Reuters) - United Parcel Service , the world's largest package delivery company, announced higher rates for most shipping services for 2012. | Full Article Deficit-cutting panel girds for failure November 18, 2011 03:51 PM ET WASHINGTON (Reuters) - A high-profile congressional effort to trim stubborn U.S. budget deficits appeared near collapse on Friday as Democratic and Republican lawmakers were unable to agree on tax increases and benefit cuts. | Full Article Eleven killed in Syria on eve of Arab deadline November 18, 2011 04:32 PM ET AMMAN (Reuters) - Syria is seeking changes to a planned mission to monitor its implementation of an Arab League peace initiative, the group's chief said on Friday, on the eve of a deadline for Damascus to take steps to end months of bloodshed. | Full Article U.S. TOP NEWS Obama opens door to new U.S. ties with Myanmar Insight: Even Germany not immune to euro zone crisis Italy's Monti wins definitive confidence vote Darth Vader claims land plot in Ukraine Court upholds fine against nude hiker RELATED VIDEO Groupon – is the stock a good one? Monetary policy's a game with ECB app Google, iTunes turn up the volume 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 Romanians use gift cards to turn donuts into dollars Full Article Leapin' leprechauns, it's Guinness records day Vatican takes legal action over Benetton pope kiss ad U.S. consumer group flags 10 most dangerous toys - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend