New features include a voice control guide, enabling Skype video calls while watching television, snap mode to move in between multiple programs at once with Explorer running side by side. This will allow you to switch to games and music instantly, or to movies.

As far as how the video game functionality is changing, that comes with a new video game hand controller that was said to be designed by gamers for gamers and a new Kinect feature with advanced camera and reading functions. The company’s SmartGlass aims to tie in other hardware devices, enabling your tablet to be a remote control.

What is obvious is that this new Xbox One from Microsoft is aimed at being the first true convergence device from the company at the launch. The Xbox 360 was added to and grown on multiple times. Even if that ends up being the case here for Xbox One, this at least looks like Microsoft’s convergence device has arrived.

More details will be available after the 11:00 AM Pacific Time.

Sirius XM ended 2012 with 23.9 million users and ended the first quarter with 24.4 million users. Today’s projection is to end the year with roughly 25.3 million subscribers.

If you want to know just how much difference the company sees between it and Pandora Media Inc. (NYSE: P) and terrestrial radio, the numbers are rather stark. Sirius XM showed $142.34 in revenue per subscriber in 2012. That compares to only $6.51 per active Pandora user and $12.91 per Clear Channel listener.

A driving force, no pun intended, is new car sales. Sirius XM says that of the 14.5 million new cars sold in 2012 the company had 67% penetration in them. The forecast used to derive the higher subscriber numbers appears to be based on expected car sales growth. The company used projections of 15.3 million new cars sold in 2013 and 15.9 million in 2014. From 2015 to 2017 it used 16.3 million cars on a static basis per year. Sirius even sees more than 100 million Sirius XM-enabled vehicles in operation in 2017 to 2018.

Financial guidance for 2013 calls for revenue of more than $3.7 billion, although we would point out that Thomson Reuters already has a consensus estimate of $3.79 billion and the street-high estimate is $3.86 billion. The company sees 2013 EBITDA above $1.1 billion and free cash flows of about $915 million. The self-pay net subscriber additions are put at about 1.6 million, and total net subscriber additions are targeted to be about 1.4 million.

Out of the company’s $2 billion stock buyback plan, Sirius XM said that it has repurchased a total of 209 million shares as of April 26. Its special dividend of $0.05 at the end of 2012 also came to a $327 million total payout to its shareholders.

Sirius XM shares are up two cents at $3.52, against a 52-week trading range of $1.80 to $3.59. Its market capitalization is currently listed as $22.4 billion.

FULL SIRIUS XM SLIDE SHOW

The balance of the top ten on the list has the usual suspects, at least among America’s super rich. At $59.2 billion, Warren Buffett sits in third place. Filthy rich conservative brothers Charles and David Koch have $55.2 billion. Oracle Corp. (NASDAQ: ORCL) founder and America Cup patron Larry Ellison has a $41.6 billion net worth. And Wal-Mart Stores Inc. (NYSE: WMT) founder Sam Walton’s children Christy and Jim have $36.1 billion.

When the Forbes list comes out, the Bloomberg one will be forgotten — at least for a day.

A May 14 letter was sent to Sony President Kazuo Hirai suggesting that Sony should create an IPO for a minority stake in Sony Entertainment. The rationale is that Sony would then have enough capital to improve on the electronics unit and on PlayStation. It is not the first, and likely will not be the last, call from outsiders that Sony has been unable to unlock the value of its entertainment unit.

Sony quickly responded that the entertainment unit is not for sale and that it is already trying to strengthen up where Dan Loeb wants improvements. Unfortunately, Sony cannot lie or sugarcoat its way out of almost a decade of losses in its television unit.

Dan Loeb may be fighting an uphill battle here. Investor activism is not given the same ear from corporate boards in Japan. Often activist efforts in Japan can be viewed by the company’s board and management as a personal offense or a dishonorable effort. Loeb’s plan also has the gimmick of the past tracking stock we saw a decade ago, and ultimately one can argue that it is simply phantom value that is created. By removing the strengths of the entertainment unit from the core operations, Sony also might be featured as an even weaker company than it is now.

Will Loeb win? It seems doubtful, but the policies presented are geared around thriving off of the new easy money monetary policy installed by Abe in Japan. Loeb does own close to a 6.5% stake, with some 64 million Sony shares.

Investors may get to unlock the value here if Loeb wins. At issue is that Loeb’s efforts simply may weaken the core electronics business, as the entertainment unit could be evaluated on its own rather than providing cover for the whole company. If you want to know just how bad things are at Sony, the ADR price might say it all. Even after a huge Abe-influenced bounce in the share price, Sony trades at less than half its prerecession share price. That same share price is only about one-sixth of its peak back in the year 2000.

Sony ADRs hit a new 52-week high of $22.22 earlier on Tuesday, and the stock is still up 8.5% at $20.50 after about two hours of trading. The trading volume of 17.5 million shares in New York is already closing in on six-times normal trading volume.

If you will recall, the first Microsoft deal for $300 million took Barnes & Noble much higher. B&N shares screamed higher to about $26 for a peak the last time around, with shares peaking around $23 last week on the rumored deal. More reports have surfaced which question or even refute the rumored transaction last week.

The big risk here by our take is that Microsoft might have been risking too much credibility. Calls are out every week to call for the ouster of Steve Ballmer as CEO. Bill Gates is all but history as far as his promotion of the company now. The software giant took a huge $6.2 billion non-cash accounting writedown on the aQuantive just last year.

The dollar amount matters little, because the company has billions upon billions of dollars to play with. What mattered at the time was that Microsoft said its expectations for future growth and profitability were lower than previous estimates and it admitted that the aQuantive acquisition did not accelerate growth to the degree anticipated.

If online media and advertising wasn’t enough, how could reproducing paper books on a device be a huge help for Microsoft? The Nook already faces massive challenges from Amazon.com inc. (NASDAQ: AMZN) via the Kindle and Apple Inc. (NASDAQ: AAPL) from the iPad. Others are coming on strong into the tablet market as well.

Maybe Microsoft just does not want another egg to be thrown in its face. Shares are of Barnes & Noble are down 12.6% at $20.40 in active trading. Microsoft shares are up 0.25% at $32.78 so far this Monday.

The incident should result in the dismissal of long-time Bloomberg editor-in-chief Matthew Winkler. In response to the scandal, he wrote, “Our reporters should not have access to any data considered proprietary. I am sorry they did. The error is inexcusable.” That set of errors happened on his watch.

The Federal Reserve and Treasury Department are investigating the practice. It is entirely possible that Bloomberg reporters collected sensitive data illegally, which would undermine the reputation of Bloomberg reporters among its terminal customers and financial media consumers in general.

The largest wireless carriers continue to be locked in a war over a market saturated by subscribers. Few athletes or celebrities have the drawing power and command the TV time that Woods does. AT&T was right to sponsor him. Verizon Wireless would be wise to pick up Woods for the same reasons AT&T was. As 4G and new smartphones from Samsung and Apple Inc. (NASDAQ: AAPL) revolutionize the market, Verizon needs more marketing leverage.

Accenture competes with several other global consulting firms for corporate and government customers. It invested millions of dollars in ad campaigns centered around Woods. Accenture’s major competitor — PcW — is already a large PGA tour sponsor. As a matter of fact, it was the title sponsor of the Players Championship, which Woods just won. Its commitment to the sport is already in place. Woods is the logical face of PcW as its extends it participation in the sport.

Coca-Cola Co.’s (NYSE: KO) Powerade is Gatorade’s primary competitor. All of its endorsement deals are with major athletes, including LeBron James and Derrick Rose. Given the prices these athletes command for their associations with Powerade, the drink already invests tens of millions of dollars in endorsements. Woods would be an ideal athlete to round out its stable, based on the fact that he dominates his sport the way that James does.

General Motors Co.’s (NYSE: GM) Buick division dropped Woods before the scandal. Its fortunes crumbled ahead of it entering Chapter 11. Ford Motor Co. (NYSE: F) and Chrysler compete with Buick. Either one of them could turn to Woods to build its brand. Chrysler in particular relies on the U.S. market, because it has little presence overseas.

Woods had what was once estimated to be several hundred million dollars in sponsors. He has won seven of his most recent 21 PGA starts, and four so far this year. During most tournaments, he is on television for several hours — just the kind of exposure major sponsors crave.

Jeffries had asked all of their TMT analysts to present one controversial stock or theme ahead of the conference. They requested stocks or themes where the analysts felt that information or data presented at the conference may have an impact.

Micron Technology Inc. (NASDAQ: MU) was a featured stock. Always volatile, as DRAM chip pricing tends to fluctuate, Jefferies sees capacity restraint translating into long-term pricing stability. The Jefferies price target for this stock is $15. The Thomson/First Call consensus estimate is $12. The stock has traded up since last week and appears to be breaking a triple top at $10.25.

Cognizant Technology Solutions Corp, (NASDAQ: CTSH) was also a focus stock. Cognizant provides information technology (IT), consulting, and business process outsourcing services worldwide. The issue to be discussed was a pending immigration bill proposed in the Senate that could affect work visas for offshore hiring. Jefferies has a price target for this stock of $80. The consensus target is even higher at $86. The stock posted record earnings yesterday.

Workday Inc. (NYSE: WDAY) had a recent and highly successful initial public offering that hit the radar at Jefferies. The interest at the conference was in the corporate switch from old line HR companies like Automatic Data Processing Inc. (NASDAQ: ADP) handling HR/payroll outsourcing to new cloud-based competitors. Workday is a stock to buy, with a $76 price target. The consensus target is much lower at $60. Workday has traded up 5% since our story a week ago and was initiated as a stock to buy at Oppenheimer late yesterday with an $80 price target.

Red Hat Inc. (NYSE: RHT) was another stock that was looked at closely. The market fears that Red Hat’s strong growth rate may be slowing. Management was expected to outline the strength of current bookings and how Linux workloads are outperforming Windows workloads. The Jefferies price target for the stock is $65, while the consensus is lower at $59. Red Hat is also up more than 5% since our story last week.

Data networking and wireline equipment stocks were among featured sectors at the conference. Jefferies has three solid stocks to buy, but they did not post their price targets in the report.

Broadsoft Inc. (NASDAQ: BSFT) released earnings on Tuesday and beat expectations on the top and bottom line. The shift by enterprises from premise-based PBX solutions to cloud-based, mobile-centric unified communications is proving to be a significant opportunity for the company. The consensus target price for the stock is $31.

Calix Inc. (NYSE: CALX) impressed the Jefferies analysts in their presentation at the conference. Calix provides broadband communications access systems and software for fiber- and copper-based network architectures. The company has enjoyed a steady increase in gross margin from the low 30s to the high 40s, and believes this trend will continue to the low 50s. The consensus price target for the stock is $9.90.

Infinera Corp. (NASDAQ: INFN) provides optical networking equipment, software and services to communications service providers, Internet content providers, cable operators and subsea network operators worldwide. Their presentation at the conference was very positive on future growth prospects. The consensus price objective for the stock is $8.50, which is below where it is currently trading.

Often the featured stocks at a Wall Street firm’s conference trade higher as new or game-changing data is presented. Investors may want to keep their eyes open for names they like that are presenting at conferences this summer and in the future.

The company’s adjusted operating income rose by 12%, even as costs rose 8%. The rise in operating costs was attributed to a 21% increase in traffic acquisition costs (TAC). AOL’s TAC declined sequentially, from 29% to 21%, and global advertising revenue growth also was weaker sequentially, down from 13% in the fourth quarter of 2012 to 9% in the first quarter.

The company’s CEO said:

AOL’s strategy of being the first scaled media and technology company is clearly represented in our results today, and we will continue to aggressively drive the company toward near-and long-term growth.

Revenue in AOL’s membership group — the company’s largest revenue generator — fell 10% year-over-year, while the brand group (with properties like AOL.com and Huffington Post) saw a 14% jump in revenues. The brand group’s adjusted operating income rose 71%, but it still lost nearly $5 million. The membership groups adjusted operating income fell 8% but provided $146.4 million in income, the only one of the company’s divisions to post a profit.

AOL’s challenge is to replace its shrinking membership revenue and profit with higher revenue and profit from its brand and network groups. Both are near break-even on profit, but that will not be good enough or fast enough to replace lagging profits from memberships.

We will have to wait for the conference call for any guidance, but the consensus estimate for the current quarter calls for EPS of $0.32 on revenues of $541.93 million. For the full year, the estimate for EPS is $1.61 on revenues of $2.24 billion. Full-year estimates have risen since AOL reported results for the fourth quarter.

AOL’s shares are trading down about 2.8% in the premarket this morning, at $40.25. The stock’s 52-week range is $23.58 to $43.93. The consensus target price for the shares was around $41.60 before today’s report.

Revenues grew by 10% to $10.554 billion, also slightly above the $10.48 billion consensus. In short, Disney bear earnings estimates and beat revenue estimates. Disney’s Interactive segment remains a money-loser but this was only -$54 million. Here is a breakdown of the gains in sales per unit:

• Media Networks up 6% to $4.957 billion
• Parks and Resorts up 14% to $3.302 billion
• Studio Entertainment up 13% to $1.338 billion
• Consumer Products up 12% to $763 million
• and Interactive up 8% to $179 million

Shares of Disney rose 1.55% to $66.07 today and the stock hit a new all-time high of $66.09. The stock was initially indicated up 0.5% at $66.40 and then more recently was down 0.2% at $65.91 after the stock market close. It is just too soon to tell if this earnings report is going to drive a new all-time yet again.

The one issue we would bring up is that the valuations have gone above what Wall Street analysts are comfortable with. The consensus price target from Thomson Reuters is just over $64.50 on Disney’s stock, so either analysts will have to play catch-up with higher price targets or they will start to say that Disney shares have reached a fair value now that the stock trades at about 19 times expected 2013 earnings.