HP to lay off about 27,000, profit slides 31 percent

SAN FRANCISCO (Reuters) - Hewlett Packard Co said on Wednesday it would lay off roughly 27,000 employees or about 8 percent of its workforce to jumpstart growth, and its shares rose 11 percent.

Jury deals blow to Oracle in case vs. Google

SAN FRANCISCO (Reuters) - Google Inc's Android mobile platform has not infringed Oracle Corp's patents, a California jury decided, putting an indefinite hold on Oracle's quest for damages in a legal fight between the two Silicon Valley giants over smartphone technology.

Apple: U.S. e-book lawsuit "fundamentally flawed"

(Reuters) - Apple Inc is rejecting charges that it conspired to fix prices of electronic books, calling the U.S. government's antitrust lawsuit a "fundamentally flawed" endeavor that could discourage competition and harm consumers.

Pandora Media raises outlook as more people tune in

(Reuters) - Online streaming music service Pandora Media Inc reported better-than-expected revenue and raised its full-year guidance as more people tuned in.

Dell's strategy questioned as shares dive

(Reuters) - Shares of Dell Inc plunged 17 percent Wednesday after a disappointing revenue forecast spurred fears that global tech spending is weakening faster than anticipated and raised doubts about the PC maker's strategy.

NetApp's revenue forecast below estimates, stock drops

SAN FRANCISCO (Reuters) - NetApp Inc forecast revenue below expectations and its CEO warned he is cautious about the outlook for business in Europe, sending the data storage equipment maker's shares down 22 percent in after-hours trade.

Obama orders agencies to shift services to mobile apps

WASHINGTON (Reuters) - President Barack Obama, hoping to spur U.S. innovation in the explosive field of mobile communications, on Wednesday ordered all major federal agencies to make many more of their services available on mobile phones within the next year.

Facebook, banks sued over pre-IPO analyst calls

(Reuters) - Facebook Inc and lead underwriter Morgan Stanley were sued by shareholders who claimed they hid the social networking company's weakened growth forecasts ahead of its $16 billion initial public offering.

Yahoo under Levinsohn seen shifting to content, advertising

SAN FRANCISCO (Reuters) - With two of its most distracting conflicts resolved in the past week and a half, Yahoo Inc hopes its new interim chief executive can focus on the biggest challenge of all: turning the company into an entertainment and information destination that wins back the advertising dollars flowing elsewhere.

SAP to buy Ariba, boosts cloud bet

SAN FRANCISCO (Reuters) - Top European software company SAP AG plans to buy Ariba Inc in a deal valuing the business and commerce network company at $4.3 billion, its latest maneuver against Oracle in the fast-growing Internet-based computing market.