Here’s the latest action:

HP applies for “Palmpad” trademark — Another major sign that Hewlett-Packard will pursue a tablet computing strategy dropped today, with the company filing to trademark the word “Palmpad.” Crunchgear has more.

Texas Instruments sees profits soar — The major chip vendor has seen a dramatic incline in sales and profits during the second quarter of 2010, a 42 percent increase compared to Q2 of last year. Second quarter income amounted to $769 million, or 62 cents per share.

Bad mobile romanceWired magazine takes an in-depth look at the relationship between AT&T and Apple and how it has led to network disasters and millions of unhappy customers.

IBM stands strong in Q2 — The computing giant announced income of $3.4 billion on revenue of $23.7 billion for the second quarter, slightly beating analyst expectations. ZDNet has the breakdown.

Corbis signs deal with startup Inflows — Part of a trend toward more small startups partnering with massive companies, stock photo site Corbis, owned by Microsoft Chairman Bill Gates, has signed a deal with Inflows, a startup offering technology to identify and track digital objects as they move across the web. The New York Times has the story.

Firstmark onboards venture partners
Early-stage venture capital firm FirstMark Capital announced today that it has added several new partners, Andy Macdonald, Scott Switzer and Nick Marsh.

British Airways intros mobile checkin — The British Airways application for the iPhone, which formerly only allowed users to view departure and arrival times, has introduced new features, including booking management, flight changes, and mobile boarding passes.

E-books trounce hardcovers on Amazon — The major retailer said today that in the last three months, it has sold more books for its Kindle e-reader than it has traditional hardcover books.

Bit.ly becomes acquisition bait
Yahoo is one of several major web players that may soon buy URL shortening service Bit.ly. Since Bit.ly raised $3.5 million in new funding in March, interest in it as a possible acquisition has increased.

Tumblr breaks 6M users — The user-friendly blogging service has exceeded 6 million users, counting 1.5 billion page views a month, according the Quantcast.