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News Sony halts Xperia tablet sales after defect found Samsung posts $7.3 billion third-qurter profit, this quarter will be tougher Zynga slashes 2012 outlook again, shares hit record low Lawmaker cites new cyber threats to financial networks Facebook IPO lawsuits to be heard in New York Samsung's Galaxy phones drive record $7.3 billion profit Samsung Electronic estimates Q3 profit at record $7.3 billion Analysis: YouTube alienates amateur users by courting pros Informatica profit warning hits tech sector shares Zynga warns of third-quarter loss, lowers 2012 outlook Oracle CEO Ellison dreams of making Hawaii island model of sustainability ATK wins $8.4 billion U.S. Army ammunition plant contract: Pentagon Cisco taps two execs in CEO race Oracle CFO: no acquisitions needed to compete in cloud Facebook crosses billion threshold, on quest for growth Sony halts Xperia tablet sales after defect found TOKYO (Reuters) - Sony Corp said it has halted sales of its Xperia tablet PCs, a month after its launch, after discovering gaps between the screen and the case that make some of the machines susceptible to water damage. The problem with the tablet, which is supposed to be water resistant, is the result of a manufacturing flaw at the Chinese plant where it is fabricated, said Sony spokeswoman Noriko Shoji. Sony has not yet decided when it will resume sales, she added. ... Full Story Top Samsung posts $7.3 billion third-qurter profit, this quarter will be tougher SEOUL (Reuters) - Samsung Electronics reported a record quarterly profit of $7.3 billion, nearly double last year's figure, as strong sales of high-end TVs and Galaxy smartphones more than offset reduced orders for chips and screens from Apple Inc, its main rival and leading customer. Most analysts, however, expect a run of four straight record quarters to end in December as the South Korean group, the world's leading maker of smartphones, TVs and memory chips, ramps up its marketing to counter Apple's new iPhone and other products in a crowded $200 billion global smartphone market. ... Full Story Top Zynga slashes 2012 outlook again, shares hit record low SAN FRANCISCO (Reuters) - Zynga Inc slashed its 2012 outlook for a second time on the poor performance of its live Internet games and the writeoff of an acquisition, fanning doubts about its ability to halt a steep decline in earnings and sending its shares to a record low. The social games maker -- hailed a year ago as part of a new generation of hot consumer Internet companies -- acknowledged on Thursday that it is still struggling to stem user flight from Facebook titles like "CityVille" and "FarmVille" that had once driven revenue growth. ... Full Story Top Lawmaker cites new cyber threats to financial networks WASHINGTON (Reuters) - The head of the House of Representatives Intelligence Committee said on Thursday that significant new cyber threats to U.S. financial networks appeared to be emerging from an "unusual" source. Committee Chairman Mike Rogers did not specifically identify the purported new threat nor its origin but referred several times to what he described as Iran's growing cyber espionage capabilities. ... Full Story Top Facebook IPO lawsuits to be heard in New York (Reuters) - Dozens of lawsuits against Facebook Inc, the NASDAQ exchange and various underwriters will be centralized before a federal judge in New York, who must sort through the legal aftermath of Facebook's botched initial public offering. A panel of federal judges on Thursday ordered that cases filed around the United States be transferred to U.S. District Judge Robert Sweet in Manhattan. Facebook had requested the transfer, while some investors sought to keep their cases in California. ... Full Story Top Samsung's Galaxy phones drive record $7.3 billion profit SEOUL (Reuters) - Samsung Electronics reported quarterly profit of $7.3 billion on Friday, a fourth straight record quarter and nearly double last year's figure, as strong sales of its Galaxy smartphones more than offset reduced orders for chips and screens from Apple Inc, the South Korean group's main rival and leading customer. But the record run will come to an end in the current quarter as Samsung spends more on marketing to counter Apple's latest iPhone and other rival products in a crowded $200 billion plus global smartphone market. ... Full Story Top Samsung Electronic estimates Q3 profit at record $7.3 billion SEOUL (Reuters) - Samsung Electronics Co, the world's biggest technology firm by revenue, estimated its July-September operating profit at a record 8.1 trillion Korean won ($7.3 billion), driven by strong sales of its Galaxy smartphones. The South Korean firm's guidance - ahead of full quarterly results by October 26 - was higher than an average forecast of 7.6 trillion won by 16 analysts polled by Reuters. Samsung, valued at around $197 billion, estimated its July-September sales at 52.0 trillion won, compared with a market forecast for 51.7 trillion won. Samsung shares have risen 7. ... Full Story Top Analysis: YouTube alienates amateur users by courting pros SAN FRANCISCO (Reuters) - After struggling for years, in late 2010, Driving Sports TV, a scrappy, two-person video production outfit led by Ryan Douthit, finally began supporting itself with advertising income from YouTube. It didn't matter that the channel's production set was simply a green screen in Douthit's cramped garage in a leafy Seattle suburb; Driving Sports TV's revenues were roaring like the rally car engines it featured. Achieving self-sufficiency on YouTube was Douthit's dream. Then it became a nightmare. ... Full Story Top Informatica profit warning hits tech sector shares (Reuters) - Software maker Informatica Corp rattled investors with a warning on Thursday about worsening business conditions in Europe, sending its shares down over 25 percent. Informatica's software, which helps companies pull together data so they can analyze business trends, is used alongside that made by bigger software companies so its weakness often drags down peers. But analysts said Informatica's problems may be company specific, citing an internal sales reorganization, and said overall tech spending would likely be stable. ... Full Story Top Zynga warns of third-quarter loss, lowers 2012 outlook SAN FRANCISCO (Reuters) - Zynga Inc on Thursday slashed its 2012 outlook for the second time in two months, warning that lagging performance from its live Internet games and a writedown from an acquisition would drag down its third-quarter results, and its shares fell 18 percent. The company estimated a third-quarter loss of 12 cents to 14 cents and projected 2012 adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $147 million to $162 million versus its previous outlook for $180 million to $250 million. Shares of Zynga fell 18 percent to $2. ... Full Story Top Oracle CEO Ellison dreams of making Hawaii island model of sustainability HONOLULU, Hawaii (Reuters) - If Oracle billionaire CEO Larry Ellison has his way, the Hawaiian island of Lanai will be transformed into a model for environmentally sustainable enterprise, a prospect that has excited some residents of the tropical paradise. Ellison bought 98 percent of the 141-square-mile (365-sq-km) Lanai from billionaire David Murdock in June for an undisclosed price. Ellison's Lanai holdings include two resorts and golf courses, a variety of commercial and residential structures and vast acres of former pineapple fields that now rest undeveloped. ... Full Story Top ATK wins $8.4 billion U.S. Army ammunition plant contract: Pentagon WASHINGTON (Reuters) - Alliant Techsystems Inc has won a contract valued at up to $8.4 billion to supply small-caliber ammunition to the U.S. Army and continue operating the Lake City Army Ammunition Plant in Independence, Missouri, the Pentagon announced on Thursday. The fixed-price contract runs through September 30, 2022, the Pentagon said in its daily digest of major contracts. On Monday, ATK announced it had been selected to provide the ammunition and manage the Lake City plant, but did not provide the value of the contract. ... Full Story Top Cisco taps two execs in CEO race (Reuters) - Networking equipment company Cisco Systems is expanding the roles of two executives it has identified as possible successors to long-serving Chief Executive John Chambers. Chambers, who took the helm at Cisco in 1995 and turned the small company into a multi-billion dollar operation, has said he aims to step down in two to four years. Cisco appears to be taking a cue from other large U.S. firms like media giant Disney that are seeking a smooth CEO transition by tapping possible heirs years in advance. ... Full Story Top Oracle CFO: no acquisitions needed to compete in cloud SAN FRANCISCO (Reuters) - Oracle Corp has all the pieces it needs to compete in cloud computing but is always interested in looking at compelling M&A opportunities, Chief Financial Officer Safra Catz told investors. Speaking at Oracle's annual investor day on Thursday, Catz said Oracle is now a one-stop shop for companies moving to cloud computing, while rivals like Amazon.com and Salesforce.com each offer some but not all of the necessary components. ... Full Story Top Facebook crosses billion threshold, on quest for growth NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc passed the 1 billion user mark in September, a level of global penetration that is a remarkable achievement for an 8-year-old social network and a heightened challenge to its quest for sustained growth. Facebook, which has endured a bruising four months in the stock market since a haphazard May 18 initial public offering, has acknowledged that a slowdown in new-user acquisition is inevitable as its worldwide reach expands. ... Full Story Top

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