F5 Networks' Miss

Networking company F5 Networks ( FFIV) came in just shy of Wall Street's first-quarter revenue expectations on Wednesday, and the miss hammered the company's stock.

Shares of F5 crept up 82 cents, or 0.75%, to close at $109.97 on Friday.

AMD Gets Fourth-Quarter Beat

Chipmaker AMD ( AMD), which is playing catch-up to semiconductor rival Intel ( INTC), also beat consensus estimates in its fourth-quarter results, released after market close on Thursday.

AMD's revenue, however, was flat compared with the same period last year. Shares of AMD closed up 48 cents, or 5.99%, at $7.54 on Friday.

HP's Boardroom Reshuffle

HP announced a sweeping boardroom reshuffle after market close on Thursday, signaling new CEO Leo Apotheker's desire to shift the company's strategy.

Former eBay ( EBAY) and Alcatel-Lucent ( ALU) CEOs Meg Whitman and Patricia Russo are among five new members of the HP board, along with Shumeet Banerji, CEO of Booz & Co., Gary Reiner, former CIO of General Electric ( GE) and AXA Private Equity CEO Dominique Senequier.

HP also announced that four incumbent directors are not standing for re-election at the company's annual meeting of stockholders.

Shares of HP ended the week up 45 cents, or 0.96%, at $47.23.

Facebook Now Worth $50 Billion

Away from the earnings calendar, Facebook announced Friday it has raised $1.5 billion, valuing the social networking giant at $50 billion.

The investment was broken into two parts. Goldman Sachs ( GS) clients outside the U.S. participated in a $1 billion fund that was completed on Friday, and Goldman and Russian firm Digital Sky Technologies separately invested another $500 million in December.

Facebook said in a press release it has no plans to use the funds immediately, but that it will use them eventually for continued expansion.

Tech's Week Ahead

Tech's earnings season gathers pace next week with quarterly results from a slew of companies, including Juniper ( JNPR), EMC ( EMC), Verizon ( VZ), Symantec ( SYMC), AT&T ( T), Nokia ( NOK), Riverbed ( RVBD) and newly independent Motorola Solutions ( MSI).

Tech watchers will likely keep their eyes peeled Thursday for Microsoft ( MSFT), which posts its second-quarter results after market close.

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

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