• 

  Hot on the heels of layoffs comes news that Yahoo is shutting down eight products, including MyBlogLog, Yahoo! Picks, AltaVista, Yahoo! Bookmarks, Yahoo! Buzz and Delicious. Meanwhile, other products like Fire Eagle and Yahoo People Search will be merged, and Yahoo! Alerts and Yahoo! Calendar will be turned into features which will presumably be implemented elsewhere. (AllThingsD)

• Federal prosecutors charged five Silicon Valley workers with illegal insider trading, or reportedly using information obtained about technology companies like Dell, Apple, AMD and Flextronics to profit off their shares. The consultants responsible for leaking the info reportedly got more than $400,000 out of the dealings. (VentureBeat)
• Groupon is reportedly looking to raise several hundred million dollars after its recent rejection of Google’s $6 billion or so buyout offer. (Bloomberg)
• Oracle’s second quarter earnings topped analyst expectations: $8.6 billion in revenue, or $0.37 per share, compared with the predicted $8.3 billion, or $0.46 per share. For some perspective, that’s an estimated revenue jump of 47% compared with numbers from the same time last year. (Business Insider)
• Facebook voluntarily shut itself down for half-an-hour yesterday after code for several new products, presumably the new Brand pages and “Memories” photo section leaked. (Wired)
• Though Amazon’s share of the paid digita-download market rose to 13.3% last quarter, iTunes’ share also rose from 63.2% to 66.2% (Wall Street Journal)
• 
  Bonobos, the popular online men’s apparel company, raised $18.5 million during its latest round of funding led by Accel and Lightspeed.
• Apple analysts upped their estimates for the company’s first fiscal quarter significantly: revenues raised by $1.12 billion, iPad sales by 1.27 million units, iPhone sales by 1.05 million units and Mac sales by 290,000 units. (Fortune)
• Despite MySpace’s recent struggles, MySpace and Google renewed their multi-year agreement which will provide the recently-revamped entertainment hub with Google web search and search advertising. (MySpace)
• Sony announced a Playstation app for Android and iOS which will allow Playstation players to check Playstation Network tropies, keep  track of friends’ games and online statuses, discover news games and news, and share info with Facebook friends and Twitter follows. No actual gameplay support from the looks of things (yet). (Fortune)

Update: In an earlier version, there was an error in the Oracle’s second quarter earnings item. We regret the mistake.