Facebook also announced its own camera app on Thursday, Facebook Camera for iPhone. The new app makes photo sharing easier, Facebook said, allowing users to share multiple photos at once, caption pictures, tag them and put their locations on them. This follows last month's announcement by Facebook that it's purchasing Instagram, a social networking app, which has many of the same features as Facebook's just-launched app. Shares of Facebook fell 16.5% this week to close at $31.91.
Investors punished Dell this week after the tech giant missed Wall Street's revenue and earnings estimates in its first-quarter results on Tuesday, citing a "challenging" economic environment. Dell earned 43 cents a share on revenue of $14.4 billion during the quarter. This was down from last year, when the company earned 55 cents a share on $15 billion in revenue. Analysts polled by Thomson Reuters expected earnings of 46 cents a share on $14.91 billion in revenue. Dell's second-quarter guidance was also weaker than Wall Street was expecting. Dell said it expects sales to come in between $14.69 billion and $15 billion. Analysts surveyed by Thomson Reuters are looking for sales of $15.42 billion. Shares of Dell plunged 15.5% this week to $12.46. > >> Bull or Bear? Vote in Our Poll
I'll end on a quirky note this week. Tesla Motors ( TSLA) CEO Elon Musk is not just into making fancy cars that go really fast. Earlier this week, his company SpaceX launched its Falcon 9 rocket, carrying the Dragon capsule into space. This marks the first time a private company has sent a spacecraft into space. The rocket docked at the International Space Station (ISS) yesterday.
Next week is going to be a shortened week because of the Memorial Day holiday, and with no major earnings reports, I'd suggest everyone take this long holiday, spend it with family and friends, and give thanks to the men and women who gave their lives for our freedom. See you next week everybody. Interested in more on HP? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull