Intel Corp. posted a 51% surge in fourth-quarter profit but sounded a cautious note about business conditions in the first quarter and the rest of the year.

The forecast by the giant chip maker, whose results are seen as a gauge for global technology demand, sent its shares down more than 14% in after-hours trading.

We all know what it means when someone is ready to cut some jobs, and in this case its Sprint. Sprint Nextel Corp. plans to lay off several thousand employees as newly installed Chief Executive Officer Dan Hesse seeks to show investors a new commitment to efficiency and cost discipline at the nation's No. 3 wireless carrier, people familiar with the matter say.

Israel based CellGuide, designer and manufacturer of integrated GPS chips for mobile devices, has completed a second round of $8 million

Trader Thoughts has eight internet/tech stock picks for 2008. Below is a brief summary, check out the link to read the full reasoning.

Akamai Technologies' (AKAM) Q3 indicated that the it has witnessed strong growth across all its core markets. AKAM reported a 45% YOY revenue growth to $161.2M, up 6% from the second quarter 2007.