Here are some things going on in your world of tech this morning:
Business Insider’s Julie Bort this morning is back on the corporate layoff beat, writing that one unnamed source at Hewlett-Packard (HPQ) tells her that there will be “massive” job cuts at the company, perhaps as much as 10% to 15%, or 32,000 to 48,000 workers.
ISI Group’s Brian Marshall this morning writes that a so-called Reduction in Force would “improve confidence in HPQ’s guidance for ‘at least $4.00 in EPS in fiscal 2012′ and enable investments in strategic, higher-growth areas.’” Marshall has a Buy rating on HP shares.
Gamestop (GME) reported Q1 results in line with its pre-announcement last week, delivering $2 billion in revenue and 54 cents profit. The Street consensus for revenue had been slightly higher at $2.05 billion. The company again re-affirmed its year outlook for $3.10 to $3.30 per share in profit. The company saw a 12.5% drop in same-store sales in the March quarter.
The Asssociated Press�reports Iran is furious about the fact Google�(GOOG) has dropped the name of the Persian Gulf from Google Maps, with Iran’s foreign ministry threatening to sue Google unless the label is restored to the service. Indeed, see for yourself: the body of water between the western coast of Iran and the Emirates is unlabeled.
The press is all over the wind-up to tomorrow’s�Facebook�initial public offering. Reuters’s Jessica Toonkel writes that several brokerages, including�TD Ameritrade�and Fidelity, have “stopped accepting orders of Facebook shares as of Tuesday evening,” frustrating the hopes of those who may have wanted to get in on the offer price before it, presumably, shoots up.�CNBC�this morning says the current stated range of $34 to $38 appears to be final.
And�Bloomberg‘s Christine Harper writes that Goldman Sachs plans to sell about $1 billion worth of Facebook shares, about half the underwriter’s stake, citing Facebook’s own filing.
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