Apple Relaxes: Weekly Tech Recap

News of Apple and HP moved tech stocks this week. Here's a roundup of TheStreet's top tech stories.
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NEW YORK (TheStreet) -- Apple (AAPL) - Get Report let go a little bit on Thursday and announced that it was -- finally -- easing some of the restrictions it puts on developers and the programming tools they use to create mobile apps for its iOS.

While likely to fuel the love between the company and the developers that supply Apple's App Store,

Apple's easing of the rules

also benefits

Google

(GOOG) - Get Report

, whose AdMob software had been effectively banned until this week.

Adobe

(ADBE) - Get Report

, whose flagship

Flash technology was famously shunned by Apple

CEO Steve Jobs earlier this year, also won a small battle as Apple's new rules allow Flash programmers to build software for Apple products.

While Adobe shares rallied up as high as 12% Thursday, tech watchers are wary of long-term upside for

Adode stock

, which could be vulnerable against increased competition and a weak PC outlook.

Adobe shares closed down 66 cents on Friday to $32.20 while Apple went up 34 cents to $263.41.

Hewlett-Packard's

(HPQ) - Get Report

story continued to grow to soap opera proportions when, after its former

CEO Mark Hurd took a job with Oracle

, it said it was

suing Mark Hurd

over alleged breach of contract.

HP's interim CEO Cathie Lesjak told analysts at a conference that

HP's partnership with Oracle is now strained

. "We have not filed suit against Oracle, we have filed suit against Mark," she said, reiterating HP's worry that

Hurd will spill trade secrets at Oracle

.

On Tuesday,

Oracle

(ORCL) - Get Report

shares shot up 6% when the market heard of Hurd's new gig; by Friday Oracle's shares were up 11.28% for the week. They closed up nearly 3% to $25.05 while HP closed down 1.39% at $38.28. HP shares were down only 0.74% for the week.

The mystery behind Google's morphing logo was revealed at a press event on Wednesday. The tech giant

unveiled Google Instant

, a new search process that shows users results as they type and is intended to save users two to five seconds each time they perform a Google search. Collectively, said Google, the new search will save people more than 3.5 billion seconds a day, or 11 hours saved each second.

Google closed a bit down Friday, 0.01% to $476.14.

In a move to help bolster its stateside presence against Apple's iPhone and Google Android,

Nokia

(NOK) - Get Report

announced Friday that it had hired an ex-

Microsoft

(MSFT) - Get Report

exec, Steve Elop, to replace its CEO.

With Android quickly usurping U.S. and world smartphone OS market share,

Nokia needs a lifeline

. Elop, who revamped Office while at Microsoft, is a software guy and takes the reins at Nokia at a time when software capability is becoming a huge differentiator in the smartphone space.

Nokia, which rallied 5% early Friday, then closed up 18 cents to $9.94.

Chipmakers

Texas Instruments

(TXN) - Get Report

and

National Semiconductor

(NSM)

gave investors an insight into the tech recovery this week,

with both companies citing spending weakness.

Texas Instruments said that the PC, hard disk drive and TV chip markets are underperforming this quarter.

From the networking and gear side, however, it's a different story. Optical networking specialist

Ciena

(CIEN) - Get Report

said that it is still optimistic about tech spending

after posting a narrower-than-expected third-quarter adjusted loss.

Texas Instruments closed down 14 cents to $23.70 Friday. Ciena closed up 26 cents to $14.18.

The M&A rumor mill continued to spin this week, with

Symantec

(SYMC) - Get Report

shares surging on Wednesday following

chatter that the security software maker could be a Microsoft acquisition target.

One company that is categorically not on the auction block, however, is

Blue Coat Systems

(BCSI)

. Mike Borman, the company's CEO, told

TheStreet

that

that he plans to double the company's revenue and stay independent.

Symantec shares closed up 24 cents to $14.86 and Blue Coat closed down a bit at $20.96.

Tech's week ahead

Gartner's refreshed prediction that Nokia and Google Android operating systems will rule the world in four years doesn't necessarily come as a big surprise, but some tech watchers are wondering if

Research In Motion's

(RIMM)

new BlackBerry 06 -- combined with some magical handset we've yet to see -- could keep the enterprise customer-heavy company from bleeding too much market share.

There might be a clue on Thursday, when RIM reports its August quarter earnings. Analysts surveyed by Thomson Reuters expect RIM to report earnings per share of $1.35 on revenue of $4.48 billion.

Tune into

TheStreet

; we'll publish the numbers as they come out and will be live-blogging RIM's conference call (sign up for a reminder to the event below). And while we'll be sure to try and squeeze the question in, we don't think RIM will be willing to comment on recent reports that big corporate customers like JP Morgan are testing out the iPhone.

--Written by James Rogers in New York.

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