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AP Technology NewsBrief at 9:03 a.m. EDT(Associated Press Via Acquire Media NewsEdge) Pandora sings happy tune: IPO fetches $16 a shareSAN FRANCISCO (AP) _ Pandora Media Inc. sold its initial public offering of stock at $16 per share late Tuesday, fetching twice as much as the popular but unprofitable Internet radio service expected less than two weeks ago. The IPO's completion means Pandora will make its stock market debut Wednesday morning with a market value of $2.6 billion. That's a lofty number for a company that has lost $92 million since it started as a music recommendation site called TheSavageBeast.com 11 years ago. Facebook hires former Clinton press secretaryNEW YORK (AP) _ Facebook has hired Joe Lockhart, who served as press secretary during President Bill Clinton's second term, as vice president of global communications. The 51-year-old Lockhart will start on July 15 in his new post. He will move to California from Washington, D.C. Google invests $280 million to spur home solarNEW YORK (AP) _ Google is making its largest investment yet in clean energy in an effort to help private homeowners put solar panels on their rooftops. The $280 million deal with installer SolarCity is the largest of its kind. SolarCity can use the funds to pay for a solar system that it can offer to residents for no money down. In exchange, customers agree to pay a set price for the power produced by the panels. J.C. Penney names Apple retail exec as new CEONEW YORK (AP) _ J.C. Penney Co. is looking to bite into the magic of Apple. The mid-brow department store chain has named Ron Johnson, who pioneered Apple Inc.'s retail stores, its next CEO. He will succeed Myron Ullman III in November, the retailer said Tuesday. Nokia, Apple settle drawn-out patent disputeHELSINKI, Finland (AP) _ Nokia Corp. on Tuesday notched a valuable win against rival Apple Inc., with the U.S. company agreeing to pay the Finnish handset maker a one-time sum to settle long-standing patent disputes as well as royalties for current licenses. Espoo-based Nokia said that the deal "will result in settlement of all patent litigation between the companies, including the withdrawal by Nokia and Apple of their respective complaints to the US International Trade Commission." Quiet China giant embodies technology aspirationsSHENZHEN, China (AP) _ China's quietest multibillion-dollar Chinese success story began when a former soldier founded a company in the 1980s to sell imported phone switches. As sales rose, Huawei Technologies Co. invested to develop its own products, a radical step for a private company in the first decade of China's reforms to open its economy. But it paid off: Today, Huawei has grown into a major equipment supplier to phone carriers across Asia, Europe and Africa, with $28 billion in sales last year and 110,000 employees. Google expands spoken search to desktop computersSAN FRANCISCO (AP) _ Google is introducing more technological tricks to simplify Internet searching and give people another reason to surf the Web on its Chrome browser. The features unveiled Tuesday include an option that will allow people to speak their search requests in English while sitting in front of their office and home computers. It's something they can already do on smartphones running on Google Inc.'s Android software. Apple starts selling unlocked iPhones in USNEW YORK (AP) _ Apple Inc. on Tuesday started selling "unlocked" iPhones in the U.S. for the first time, allowing owners to switch carriers to a limited extent and save money when travelling. Apple is selling them on its websites and its store for $649 and $749 depending on how much memory they have. They're identical to the versions sold for use on AT&T Inc.'s network, but don't require a two-year contract. Facebook helps itself by helping RockMelt browserSAN FRANCISCO (AP) _ Facebook has updated its status to include a relationship with RockMelt, an upstart Web browser that revolves around Facebook's online hangout. The business partnership announced Tuesday resulted in the latest update to the Facebook-driven Web browser, which RockMelt introduced late last year. Malaysia works to foil Anonymous hacking threatKUALA LUMPUR, Malaysia (AP) _ Malaysia worked Wednesday to thwart a planned assault on the government's official website by international hacker vigilantes who accuse authorities in this Southeast Asian country of Internet censorship. A loose-knit activist group that calls itself "Anonymous" has threatened to target Malaysia's online network early Thursday in retaliation against a government effort to block access to 10 popular websites often used to illegally download movies, TV shows and music. (c) 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |