Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, today announced it is investigating Facebook, Inc. (NASDAQ: FB) (“Facebook”) and its underwriters for possible violations of the federal securities laws following reports that Facebook’s lead underwriter, Morgan Stanley (NYSE: MS), selectively disclosed revised Facebook revenue forecasts during its IPO road show.

Facebook stock was initially offered at a price of $38.00 on May 18, 2012, but subsequently fell in trading over the next several days. The stock closed at $31.00 on May 22, 2012, down a total of more than 18 percent from the initial offering price.

Hagens Berman is investigating whether Morgan Stanley (NYSE:MS), JP Morgan (NYSE:JPM), and Goldman Sachs (NYSE:GS) failed to disclose material facts about Facebook’s revenue to investors in advance of the IPO, and whether this caused the stock to initially trade at an artificially high price.

“If the facts are true and Morgan Stanley and the other underwriters selectively disclosed Facebook’s revised revenue forecasts, then the IPO was riddled with fraud,” said Hagens Berman partner Reed R. Kathrein, who is leading the firm’s investigation. “Such selective disclosure, simply put, is a relic of the past and would entitle those who were in the dark to their money back.”

Investors should also be aware that a class action has been filed based on these press reports.

Investors who purchased or otherwise acquired shares of Facebook common stock and who have suffered substantial financial losses may contact Mr. Kathrein by calling (510) 725-3000.

IBM (NYSE: IBM) today announced it has completed the acquisition of Varicent Software Incorporated, a leading provider of analytics software for compensation and sales performance management. Financial terms will not be disclosed.

Varicent’s software automates and analyzes data across sales, finance, human resources and IT departments to uncover trends and improve sales performance and operations. The acquisition enhances IBM’s Smarter Analytics capabilities across line of business operations in all industries.

“Varicent advances IBM’s efforts to deliver analytics directly into the hands of front line employees, helping them uncover new ways to remain competitive and stay ahead of increasing demand,” said Les Rechan, IBM General Manager, Business Analytics. “The combination of Varicent’s software and IBM’s deep analytics expertise delivers a comprehensive approach to managing sales performance, allowing clients to make more informed decisions faster.”

Varicent software allows companies across a variety of industries including banking, telecommunications, insurance and retail to facilitate and streamline quota planning, compensation, sales assignments and managing quotas and insights into sales activities. The software is unique, taking what is traditionally a very labor intensive process, and automates and integrates all aspects of sales, client and financial performance management across the enterprise.

Varicent software, combined with IBM’s prior acquisitions in business analytics including Algorithmics, Clarity Systems, OpenPages and Cognos, and recent investments in predictive analytics such as SPSS, will provide clients with a broad range of business analytics solutions. These acquisitions are part of IBM’s larger focus on analytics, which spans hardware, software, services and research.

The news supports IBM’s long-term growth strategy to expand the company’s business analytics and optimization software and services capabilities, an area of IBM’s business that is expected to reach $16 billion in revenue by 2015.

Varicent is headquartered in Toronto, Canada with additional operations in North America, EMEA and Asia Pacific. Varicent has more than 180 customers using its software, including Starwood Hotels, Covidien, Dex One, Manpower, Hertz, Office Depot and Farmers. Consistent with its acquisition strategy, IBM will continue to support Varicent clients while allowing them to take advantage of the broader IBM portfolio.

With the closing of this acquisition, approximately 200 Varicent employees will join IBM’s Software Group.

Philips reports first-quarter sales of EUR 5.6 billion; EBITA of EUR 552 million

• Comparable sales up 4%, led by 9% growth at Healthcare • Sales in growth geographies up 9% on a comparable basis • Reported EBITA of 9.8% of sales • Net income of EUR 249 million • Free cash flow of EUR 642 million • TV joint venture with TPV completed, Senseo transaction with Sara Lee finalized • Philips sells real estate of High Tech Campus Eindhoven • Cost savings on track

Q1 financials: Good growth at Healthcare and growth businesses in Consumer Lifestyle. At Lighting, LED product sales continued to increase. Improved EBITA at Healthcare and Consumer Lifestyle while EBITA at Lighting declined.

Healthcare comparable sales were 9% higher year-on-year, with very strong growth of 27% in growth geographies. Comparable equipment order intake grew 7% year-on-year, with the strongest contribution from Patient Care & Clinical Informatics (PCCI). EBITA margin for the quarter was 10.2%.

Consumer Lifestyle sales decreased 1% on a comparable basis as strong growth at Personal Care, Health & Wellness, and Domestic Appliances combined was offset by a decline at Lifestyle Entertainment. Reported EBITA margin for the quarter was 20.1%, as a one-time gain from extending the partnership with Sara Lee impacted results positively.

Lighting comparable sales increased 2% year-on-year; mid-single-digit sales growth in all businesses was partly offset by a decrease at Lumileds. LED-based sales grew 22% compared to Q1 2011, and now represent 16% of total Lighting sales. Lighting achieved high-single-digit sales growth in its growth geographies. Results were impacted by operational issues at Consumer Luminaires and Lumileds, as well as a one-time loss on the sale of assets. Reported EBITA was 3.0%.

We have completed 43% of our EUR 2 billion share buy-back program since the start of the program in July 2011.

Moving forward on Accelerate!, Philips’ change and performance improvement program

In the first quarter of 2012 our multi-year Accelerate! program continued to gain traction, with much potential still to be realized. The implementation of the granular performance management approach is resulting in improved performance and market share gains in many Business Market Combinations. We have completed the strengthening of the leadership teams in all our important markets. Programs to improve the cost, speed and effectiveness of the end-to end customer value chain are making good progress. The actions to deliver on our announced overhead cost reduction program are on track; incremental savings in the first quarter of 2012 amounted to EUR 37 million. Cumulative savings to the end of 2012 are expected to be EUR 400 million. Additionally, in order to drive the company towards a performance culture, close to 200 of our leaders have participated in an immersive behavior change program, with encouraging feedback.

CEO quote:

I am encouraged by our results in the first quarter of 2012, which is a further step in the right direction for Philips on our path to value to achieve the mid-term 2013 financial targets. Accelerate! is beginning to impact the company’s performance, and cost-saving initiatives are on track. Healthcare sales and order intake showed robust growth, and the growth businesses of Consumer Lifestyle continued to perform well. After a declining trend over the past seven quarters, I am quite pleased with the sequential performance improvement at Lighting, as organizational changes and operational improvements began to show positive results.

Very importantly, during the quarter, we completed the formation of the TV joint venture as planned, which was a top priority.

I am also pleased with two great additions to our Executive Committee: Eric Rondolat, who will run our Lighting business, and Deborah DiSanzo, who will lead Healthcare. Eric brings a wealth of experience from the energy management industry and is well-positioned to lead our transformation to LED lighting solutions. And Deborah is a Healthcare veteran who, with her highly successful track record in Philips, provides continuity to our largest sector.

We remain cautious about the remainder of 2012 given the uncertainties in Europe, particularly in the healthcare and construction markets, and the slowing growth rate in the global economy. As we have stated earlier, we expect our results in 2012 to be impacted by restructuring charges and one-time investments aimed at improving our business performance trajectory, as part of the multi-year Accelerate! program. Notwithstanding these one-time charges, we expect the underlying operating margins and capital efficiency in the sectors to improve in the latter part of 2012.

Frans van Houten, CEO of Royal Philips Electronics

Baidu, Inc. (NASDAQ: BIDU), the leading Chinese language Internet search provider, today announced its unaudited financial results for the first quarter ended March 31, 2012

First Quarter 2012 Highlights

• Total revenues in the first quarter of 2012 were RMB4.264 billion ($677.1 million), a 75.0% increase from the corresponding period in 2011.
• Operating profit in the first quarter of 2012 was RMB2.091 billion ($332.1 million), a 75.1% increase from the corresponding period in 2011.
• Net income attributable to Baidu in the first quarter of 2012 was RMB1.883 billion ($299.0 million), a 75.9% increase from the corresponding period in 2011. Diluted earnings attributable to Baidu per ADS for the first quarter of 2012 were RMB5.38($0.85); diluted earnings attributable to Baidu per ADS excluding share-based compensation expenses (non-GAAP) for the first quarter of 2012 were RMB5.48 ($0.87).

“We’ve started the year with solid financial results and steady business progress,” said Robin Li, chairman and chief executive officer of Baidu. “Although this is usually a seasonally slow quarter, our effective sales and marketing efforts enabled us to expand our SME customer base significantly.”

Mr. Li continued, “China’s Internet landscape is evolving quickly and we are very excited about fast-emerging opportunities in areas such as mobile and Cloud Computing. We believe that Baidu is uniquely positioned to capture this immense growth potential in the Chinese online market.”

Jennifer Li, Baidu’s chief financial officer, commented, “We kept up our pace of investment in talent and network infrastructure in the first quarter in support of our long-term growth initiatives. We are committed to this aggressive investment strategy for the year ahead and will maintain our focus on managing operational efficiency to ensure sustainable growth.”

First Quarter 2012 Results

Baidu reported total revenues of RMB4.264 billion ($677.1 million) for the first quarter of 2012, representing a 75.0% increase from the corresponding period in 2011.

Online marketing revenues for the first quarter of 2012 were RMB4.261 billion ($676.5 million), representing a 75.0% increase from the corresponding period in 2011. Baidu had about 321,000 active online marketing customers in the first quarter of 2012, representing a 17.2% increase from the corresponding period in 2011 and a 3.2% increase from the fourth quarter of 2011. Revenue per online marketing customer for the first quarter was approximately RMB13,300 ($2,112), a 49.4% increase from the corresponding period in 2011 and a 7.6% decrease compared to the fourth quarter of 2011.

Traffic acquisition cost (TAC) as a component of cost of revenues was RMB331.3 million ($52.6 million), representing 7.8% of total revenues, as compared to 8.2% in the corresponding period in 2011 and 7.9% in the fourth quarter of 2011.

Bandwidth costs as a component of cost of revenues were RMB222.6 million ($35.4 million), representing 5.2% of total revenues, compared to 5.0% in the corresponding period in 2011. Depreciation costs as a component of cost of revenues were RMB233.4 million ($37.1 million), representing 5.5% of total revenues, compared to 5.0% in the corresponding period in 2011. These increases were mainly due to an increase in network infrastructure capacity.

Selling, general and administrative expenses were RMB478.5 million ($76.0 million), representing an increase of 43.9% from the corresponding period in 2011, primarily due to an increase in personnel-related expenses.

Research and development expenses were RMB443.2 million ($70.4 million), an 85.2% increase from the corresponding period in 2011. The increase was primarily due to an increase in the number of research and development personnel.

Share-based compensation expenses, which were allocated to related operating costs and expense line items, were RMB35.2 million ($5.6 million) in the first quarter of 2012, compared to RMB31.3 million in the corresponding period in 2011 and RMB46.6 million in the fourth quarter of 2011.

Operating profit was RMB2.091 billion ($332.1 million), representing a 75.1% increase from the corresponding period in 2011. Operating profit excluding share-based compensation expenses (non-GAAP) was RMB2.127 billion ($337.7 million), a 73.5% increase from the corresponding period in 2011.

Income tax expense was RMB331.2 million ($52.6 million), compared to an income tax expense of RMB181.3 million in the corresponding period in 2011. The effective tax rate for the first quarter of 2012 was 15.1% as compared to 14.5% for the corresponding period in 2011 and 16.5% in the fourth quarter of 2011.

Net income attributable to Baidu was RMB1.883 billion ($299.0 million), representing a 75.9% increase from the corresponding period in 2011. Basic and diluted earnings per ADS for the first quarter of 2012 amounted to RMB5.39 ($0.86) and RMB5.38 ($0.85), respectively.

Net income attributable to Baidu excluding share-based compensation expenses (non-GAAP) was RMB1.918 billion ($304.6 million), a 74.1% increase from the corresponding period in 2011. Basic and diluted earnings per ADS excluding share-based compensation expenses (non-GAAP) for the first quarter of 2012 amounted to RMB5.49 ($0.87) and RMB5.48 ($0.87), respectively.

As of March 31, 2012, the Company had cash, cash equivalents and short-term investments of RMB16.115 billion ($2.559 billion). Net operating cash inflow for the first quarter of 2012 was RMB2.367 billion ($375.9 million). Capital expenditures for the first quarter of 2012 were RMB298.1 million ($47.3 million).

Adjusted EBITDA (non-GAAP), defined in this announcement as earnings before interest, taxes, depreciation, amortization, other non-operating income and share-based compensation expenses, was RMB2.442 billion ($387.8 million) for the first quarter of 2012, representing a 76.0% increase from the corresponding period in 2011.

Outlook for Second Quarter 2012

Baidu currently expects to generate total revenues in an amount ranging from RMB5.335 billion ($847.2 million) to RMB5.460 billion ($867.0 million) for the second quarter of 2012, representing a 56.2% to 59.9% year-over-year increase. This forecast reflects Baidu’s current and preliminary view, which is subject to change.

Rolls-Royce Motor Cars has announced that the company is seeking candidates for its Apprenticeship Programme. The successful applicants will join the programme at the end of August 2012, working alongside skilled craftspeople in leather, wood, paint, electrical engineering, mechanical engineering, assembly and finesse roles.

The company’s Apprenticeship Programme was successfully launched in 2006 and provides people aged 16-24 with the opportunity to train with the Goodwood-based manufacturer of the world’s best-selling super-luxury cars. The apprenticeships last for up to four years and combine on-the-job training with studying for nationally recognised qualifications. The programme has been designed in conjunction with the Learning Skills Council (LSC) and Chichester and Northbrook colleges.

The selection process is designed to guarantee recruitment of the very best candidates who could have the opportunity to further grow with the company following a successful apprenticeship period. Since the programme’s launch in 2006, more than 30 young people have been employed following completion of their apprenticeship. In 2011, the programme was extended to the business areas and the first business apprentice was recruited.

In addition to the Apprenticeship Programme, more than 50 young men and women were employed with the company in 2011 on industrial placements ranging in duration from six to twelve months; further positions are likely to be available this year. The company also runs a successful graduate programme, with new positions made available each year.

Potential candidates for all Rolls-Royce Motor Cars positions should apply online at www.rolls-roycemotorcars.com/careers.

Groupon, Inc. (NASDAQ: GRPN) today announced the initial public offering of 35,000,000 shares of its Class A common stock at a price of $20 per share.

In addition, Groupon has granted the underwriters a 30-day option to purchase up to an additional 5,250,000 shares of Class A common stock to cover over-allotments, if any. All of the shares of Class A common stock are being offered by Groupon.

The company’s shares are expected to begin trading on The NASDAQ Global Select Market on November 4, 2011 under the ticker symbol “GRPN.” Available content includes corporate b-roll.

Nissan North America, Inc. (NNA) today reported September U.S. sales of 92,964 units versus 74,205 units a year earlier, an increase of 25.3 percent. Nissan Division sales increased 28.2 percent for the month with 84,485 units. Sales of Infiniti vehicles increased 2.1 percent from the prior year, to 8,479 units.

Nissan vehicles posted September sales of 84,485 units, an increase of 28.2 percent over the 65,900 units sold in September 2010.
Strong combined sales of Nissan cars – including the Altima, Sentra, Maxima, and Versa – were up 32.3 percent versus the prior year at 55,751 units, setting a September record for total car sales.
Versa saw a record September, with sales of 11,800 units increasing 68.1 percent over the prior year – helped by a strong start for the all-new Versa sedan, which had its first full month of sales in September.
Strong sales of the Nissan Altima continue, with 24,356 units marking a September increase of 21.7 percent over the prior year, while Maxima sales jumped 26.3 percent to 6,133 units.
The Rogue crossover vehicle continues to gain momentum, with sales of 10,740 units marking a 29.1 percent increase over last year – also a record September.
Sales of the 100-percent electric Nissan LEAF totaled 1,031 units in September, with total sales of 7,217 units of the innovative, zero-emissions vehicle since its December 2010 U.S. debut.

Infiniti today reported U.S. sales of 8,479 units for September, an increase of 2.1 percent versus 8,305 units a year earlier. Calendar year-to-date Infiniti sales of 72,181 are down 3.5 percent compared to the 74,797 units sold during the same period last year.

Infiniti sales highlights for the month include:

Infiniti G Sedan sales of 3,940 marked an increase of 28.9 percent for the month, and the model’s best September
With sales of 1,206 units, an increase of 46.7 percent, the Infiniti QX full-size luxury SUV had its September since 2005, supporting a year-over-year increase of 15.1 percent

“September marks a return to the year-over-year sales growth Infiniti experienced during the first quarter of this year,” said Ben Poore, vice president, Infiniti Americas. “With our retailers having full inventory, and the 2012 Infiniti FX arriving in showrooms this month, we expect our sales to continue on an upward trend through the end of the year.”

The updated Infiniti FX luxury performance crossover has a new front fascia, wheels and instrument cluster, and is also available in a Limited Edition model with an exclusive Iridium Blue exterior and special charcoal-colored 21-in. wheels.

Mercedes-Benz Reports Highest September on Record With Sales of 23,897

Mercedes-Benz USA (MBUSA) today reported September sales of 23,897 vehicles, a 15.6% improvement over September 2010 (20,666) and the company’s highest September volume on record. On a year-to-date basis, the 182,314 vehicles sold represent a 10.3% increase over the 165,355 vehicles sold during the same period last year.

The highest volume performers for the month were the C-Class and E-Class model lines. The all-new 2012 sporty C-Class – and gateway to the Mercedes-Benz brand for younger and first-time Mercedes-Benz buyers – led the pack with sales of 6,865, up 32.1% from September 2010. The 9th generation E-Class followed with sales of 5,122 and the full-sized SUV, the GL-Class, finished third in volume with monthly sales of 2,541. Additionally, sales of the newly launched 2012 CLS-Class posted a 399.3% increase for the month and sales of the new SLK roadster were up 50.8% over September 2010.

At the high end, the company sold 25 of its supercar — the SLS AMG — bringing its year-to-date sales to 454.

Sales of Sprinter Vans also increased by 121.3% for September with sales of 1,779 – bringing a year-to-date total of 12,452 (up 121.3 %).

Sales of the smart fortwo totaled 469 vehicles for the month (compared to the 422 vehicles sold in September 2010).

Separately, through the Mercedes-Benz Certified Pre-Owned (MBCPO) program, MBUSA sold 5,707 vehicles in September 2011, a decrease of -8.6%. On a year-to-date basis, MBCPO sold 57,359 vehicles, a decrease of -5.9% over the comparable period last year.

Hyundai Motor America today announced sales of 52,051 vehicles in September, a 12 percent total sales increase compared with the same period a year ago, and a 16 percent retail sales increase over last September.

Year to date, Hyundai sales are up 20 percent versus 2010 in total, and up 31 percent at retail. Sales to fleet accounts represent 11 percent of the total sales year-to-date and just 10 percent for the month of September. Thirty-seven percent of Hyundai vehicles sold in September achieved 40 MPG fuel economy ratings.

Santa Fe and Tucson, the heart of Hyundai’s crossover line-up, registered sales increases of 67 and 36 percent, respectively. Equus, the highest-ranking premium luxury car in the 2011 J.D. Power and Associates APEAL study, delivered another strong month and has already exceeded its first full-year sales target.

Hyundai achieved a record corporate average fuel economy level of 36.5 MPG in September, and 35.9 MPG for the year-to-date, while selling an industry-leading 19,373 vehicles (Elantra sedan, Sonata Hybrid, 2012 Accent and Veloster) with 40 MPG window label highway fuel economy ratings.