Technology Report: Analysis: Sony's breach a hiccup to online game phenomenon

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	05/23/2011
Good afternoon Bit Sony will post its third straight annual net loss for the year that ended in March after writing off tax credits in the wake of Japan's earthquake and tsunami, the latest in a string of grim headlines on the consumer electronics giant. The firm, which previously forecast a net profit of 70 billion yen for 2010/11, surprised markets on Monday by declaring the need to update investors with revised estimates ahead of its official earnings report on Thursday. Sony said it now expected to post a net loss of 260 billion yen ($3.2 billion). The annual net loss would be Sony's second-largest ever. IBM surged past old rival Microsoft in market value for the first time since April 1996, marking the latest twist in the fluctuating fortunes of two of the world's most storied tech companies. Microsoft's stock has been stagnant since the tech bubble burst in 2000, as investors doubt its ability to move beyond its Windows operating system and Office suite of software. In the meantime, "Big Blue" has refashioned itself as a specialist in business software, servers and consulting, jettisoning its PC business along the way. Shares of Apple regrouped after Wall Street brushed off the impact of an explosion last week that shut a Foxconn factory in China producing its iPad. Apple will adopt a curved cover glass for its next generation iPhone, according to industry sources, DigiTimes reported. There was no timetable for the production of the iPhone 5 because Apple is still working with suppliers, including those involved in cover glass, glass cutting, lamination and touch sensors to improve yield rates, DigiTimes added. LinkedIn's professional networking website has security flaws that makes users' accounts vulnerable to attack by hackers who could break in without ever needing passwords, according to a security researcher who identified the problem. News of the vulnerability surfaced over the weekend, only days after LinkedIn went public last week with a trading debut that saw the value of its shares more than double. LATEST NEWS Analysis: Sony's breach a hiccup to online game phenomenon May 23, 2011 04:41 PM ET NEW YORK (Reuters) - When service was finally restored to Sony Corp's PlayStation Network earlier this month, millions of customers rushed back to it, impatient to get back to battling friends in sports or shooter games. | Full Article Special Report: Sony stumbles: Did Stringer's makeover fail? May 23, 2011 04:58 AM ET TOKYO/NEW YORK (Reuters) - Had Sony stuck with the Airboard portable computer it launched in 2000, Satoru Maeda rather than Apple's Steve Jobs might have been feted as the creator of tablet PCs. | Full Article Egyptian uprising hero says social networks crucial May 23, 2011 03:58 PM ET BOSTON (Reuters) - A Google executive who became the face of the Egyptian democratic uprisings earlier this year said on Monday that social networking was now a key to political activism. | Full Article Toshiba to invest $8.5 billion over next three years: report May 23, 2011 02:45 PM ET (Reuters) - Japanese electronics products manufacturer Toshiba Corp said it will invest 700 billion yen ($8.57 billion) in environment and energy sectors over the next three years to meet demand from infrastructure projects, business daily Nikkei said. | Full Article Online poker "payment processor" admits U.S. charges May 23, 2011 03:44 PM ET NEW YORK (Reuters) - An Illinois man admitted in federal court on Monday to helping large online poker websites dodge U.S. gambling laws by processing millions of dollars in payments from his home in Costa Rica and lying to banks about the nature of the transactions. | Full Article BUSINESS NEWS Wall Street ends at one-month low on euro-debt worries May 23, 2011 04:27 PM ET NEW YORK (Reuters) - U.S. stocks closed at their lowest levels in a month on Monday in a sign of increasing doubt that equity markets can weather recent weakness in global manufacturing and demand. | Full Article Euro zone debtors under pressure over new risks May 23, 2011 03:20 PM ET LONDON/ATHENS (Reuters) - Financial markets piled pressure on heavily indebted euro zone countries on Monday as investors worried about heightened risks in Spain and Greece and ratings agencies stoked new concerns over Italy and Belgium. | Full Article BofA $410 million overdraft settlement wins court OK May 23, 2011 04:30 PM ET NEW YORK (Reuters) - Bank of America Corp has won tentative approval of a $410 million settlement of lawsuits accusing it of charging excessive overdraft fees to roughly 1 million customers. | Full Article States, banks to meet on foreclosures Tuesday May 23, 2011 04:35 PM ET WASHINGTON (Reuters) - U.S. banks are due to meet with state attorneys general and federal agencies on Tuesday as they seek to reach a settlement over problems in the mortgage servicing industry. | Full Article Emerging countries push back on picking IMF chief May 23, 2011 04:40 PM ET BRASILIA/WASHINGTON (Reuters) - Emerging market countries lined up on Monday in strong opposition to the possibility a European could automatically succeed Dominique Strauss-Kahn as head of the International Monetary Fund. | Full Article U.S. TOP NEWS State and local governments may cut 450,000 jobs in FY2012 Tornado devastates Joplin, Missouri, 116 dead Pakistan retakes naval base after attack Princess's "toilet seat" hat sells for $131,000 Major Jane Austen manuscript up for sale RELATED VIDEO Lost your pet zebra? 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