Microsoft's got the hots for Nook

Microsoft joins forces with Barnes & Noble, LG competes with iCloud, and Dell says there's big demand for the XPS 13 ultrabook.

Every weekday afternoon, CNET Update delivers the top tech stories of the day. The show keeps a close eye on emerging trends, hot devices and new apps. And it's all in less than three minutes.

In today's show, Microsoft's got the hots for Nook, LG has its head in the cloud, and we're battling pigs in space! (space! space! space!):

Microsoft is investing $300 million in a new Barnes & Noble subsidiary that will handle digital and college business. With this investment, expect the Nook to become a stronger player against the Kindle and iPad.

A Dell executive says demand is greater than expected for the XPS 13 ultrabook . It's thin and light, but heavy on the wallet.

Walmart will begin selling U Prepaid-brand phones in May.

Nintendo gives the 3DS a new color option with Midnight Purple, available May 20th.

Groupon sells 1.5 million Groupon Now deals in the first year.

LG is taking on the iCloud and launching LG Cloud Beta on Tuesday.

More than 50 million people have downloaded Angry Birds Space since it launched (pun intended) a month ago.

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