Google Inc. (NDAQ: GOOG) released the beta version of its Chrome web browser last week that will compete directly with market leader Internet Explorer 7, FireFox 3, and Safari 3 browsers. The search giant's latest project is seen by many reviewers as being simpler, faster, and less prone to crashing. The question now is: How will this new browser affect the search giant's bottom line.

When it comes to numbers, Google makes the lionshare of its profits from search advertising. Its Google AdWords program generates more than 95% of the company's revenues, helped by peer publishing via Google AdSense. Moreover, the vast majority of Google's side projects not only lose money, but also do not generate any substantial website traffic.

Many experts see Chrome as not only a web browser, but an effort to take control of Windows users via their most-used application. FireFox's quick market share move against Internet Explorer has already shown that Microsoft can be beaten. Now, with a huge public corporation behind it, many are hoping that Google can do more to take further market share.

So, while the new web browser will do little to impact Google's bottom line right now, it may help them further solidify their lead in search while also moving users out of Microsoft's arms and into theirs. This makes Chrome a new technology that is definitely worth a second look- both for investors and internet users.

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Many investors are losing money in today's market, but at least one appears to be minting it. William Ackman's well-timed bet on Longs Drug Stores (NYSE: LDG) may have netted him several hundred million in mere weeks, but the famous activist is now questioning whether it deserves more. Pershing Square, which he manages, threatened to vote against the deal amid concerns that CVS may not be paying full price for Long's real estate assets.

Real estate is the crown jewel in CVS' deal to acquire Long's. Newly public reports show that CVS put a "conservative" value of $1 billion on 200 Long's retail stores, three distribution centers, and three office buildings. Further, CVS noted that it intends to make money off the assets by either selling them or generating cash through sale-leaseback transactions. Several investors have threatened to vote against the merger by refusing to tender their shares.

The real estate story may also explain why Ackman was interested in the first place. One of the activist investors favorite strategies is to push for value to be unlocked through the same transactions mentioned by CVS above. Target, for example, is one company he owns where he sees the real estate as being worth as much as the entire company if not more. Now that CVS has beat him to the punch, he and other investors are likely to put up a fight.

Arbitrage investors - those that bet on takeovers - have already begun to bet that CVS will increase its bid as shares are trading above the takeover premium. The other options are the CVS will extend the timetable of its tender offer or walk away from the deal altogether. The law firm behind the complaint, BLB&G, has a history with CVS too. The law firm helped force the chain to pay an additional $7.50 per share in its acquisition of Caremark in 2006.

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Yahoo Inc. (NDAQ: YHOO) shareholders are in a world of hurt these days- how would a $33/share offer look now? This question has some people asking whether or not it is time for Microsoft Corporation (NDAQ: MSFT) to come back to the table with its $24/share offer. Microsoft even has some help on the board in the form of an activist shareholder - Carl Icahn - who now has a direct hand in any decision to sell the giant to Microsoft.

Carl Icahn has already talked of selling Yahoo's search business to Microsoft as part of a complex alliance. Under the plan, Yahoo would sell its search business for $1 billion in cash and Microsoft would also become the exclusive search provider on all Yahoo sites for a term of five years. In return, Microsoft would guarantee Yahoo $2.3 billion per year as compensation for search queries generated from Yahoo properties so long as Yahoo meets certain traffic requirements.

The move comes after Microsoft had already broke off merger talks with Yahoo after its board rejected a $33 per share buyout bid, which is about double the current share price. Initially, Yahoo also rejected the idea of Icahn's plan, but quickly had a change of heart when the activist investor launched a proxy contest. To satisfy the dissident investor, he was given a seat on the board and an ability to push the agenda that so many area awaiting now.

What happens now remains to be seen, but perhaps Microsoft will see new opportunity...

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