For followers of technology business news, this week’s biggest stories, without a doubt, revolved around the initial public offering of a little company known as Facebook (News - Alert). Here on Techzone360, we chronicled that story, but also this week, as the weather in the northeastern part of the United States started to heat up, we also brought you plenty of news on the best technology to use when you’re outside, enjoying that soon-to-be-summer weather. Here, then, are some of the top Techzone stories for the week!
The first rumblings of problems with Facebook’s IPO came on Monday, as the market reacted to the initial 25 percent drop in the company’s stock price. The initial price was set at $38 per share, due in large part to support from Morgan Stanley, but after that, the stock took a steep dive, leading some analysts to say that the Facebook had not lived up to the hype.
But the news got worse for Facebook later in the week as federal regulators began investigating the lead underwriter of the IPO. Allegations surfaced that the underwriter may have tipped off certain clients to a negative report on the company’s prospects. The negative report in question cited statistics that more and more users were accessing Facebook from mobile devices, which would significantly cut into advertising revenue. Supposedly, Morgan Stanley underwriters warned certain clients about the shaky future of the stock. This story only got uglier as more details emerged, including the fact that 21 different Wall Street firms were given the bad news by the underwriters, even when the general public was kept in the dark.
For those of us who care more about getting out into the sun than whether we’re in the dark about stock offerings, this week Techzone featured several stories that highlighted technology that can be used outside. One example of a hobby that combines technology and the great outdoors is geocaching. By using GPS devices, enthusiasts can take part in a treasure hunt, racing all over their region finding hidden clues and sharing their pics.
If running is more your speed (pardon the pun), we also had an article this week that highlighted three of the best iPhone apps for joggers. From the Nike+ GPS app, with its “Challenge Me” feature that helps you push yourself beyond your regular route, to RunKeeper Pro, which allows you to build your own “Street Team” of like-minded runners, to iSmoothRun, which can help you improve your form, if you are a serious runner, well, luckily for you, there’s an app for that (or several).
Finally, in the United States, this is Memorial Day weekend, a time when many people -- in addition to remembering and honoring those who have served this country in the name of freedom – like to party. We had an article that listed the five best apps for throwing that perfect party, including: Evite, to get everyone there; Wunderlist, to manage your to-do lists; Spotify (News - Alert), to crank out the rockin’ tunes; Mixology, to get the drinks flowing; and Instagram, to capture all the memories in photographic form.
All in all, it was an exciting week on Techzone 360. Check back next week – you never know what you’ll find!