Facebook IPO Steals Show: Tech Weekly

NEW YORK (TheStreet) -- Facebook's(FB) IPO came and went on Friday, amid mixed reviews.

Many were hoping for a massive pop, but shares opened trading at $42.05, after pricing at $38 per share. The offering raised more than $16 billion in the largest tech offering in U.S. history. Facebook and its existing shareholders sold 421.2 million shares in the offering.

The stock jumped up to $45 right away, then ran down to its pricing level of $38 but never went negative. Shares closed their first day of trading up 0.6% at $38.23 on 573 million shares.

Facebook also acquired e-commerce startup Karma following the close of trading on Friday.

Hedge funds filed their 13-F's this week, with a few of them cutting their exposure to technology stocks including Intel(INTC) and Apple(AAPL) .

Legendary value investor Warren Buffett cut his stake in Intel while adding some shares of IBM(IBM) during the first-quarter, his filing showed.

As of March 31, Buffett and his firm Berkshire Hathaway(BRK.A) held 7.745 million Intel shares, down from 11.495 million shares in the previous filing. Buffett added approximately 489,000 shares of IBM during the quarter.

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Apple was a mixed topic this week, with both George Soros and Renaissance Technologies paring their stakes in the Cupertino, Calif.-based technology giant, while David Einhorn talked up the company.