Yesterday, I wrote on the potential lawsuits that could come as a result of Facebook’s (NASDAQ:FB) acquisition of Instagram back in April for $1 billion. Some believe that Twitter could make a case for the alleged “verbal agreement” that Instagram CEO Kevin Systrom made for a $525 … [Read more...]
Apple Attempts to Put the Squeeze on Samsung and Gets Denied
Just in time for the holidays, Apple Inc. (NASDAQ: AAPL) and Samsung Electronics Co. may be reaching a truce of some sort in their global litigation over smartphone patents. A San Jose Calif. court ruled Dec. 17 that Apple had not proven its case requesting an injunction barring the … [Read more...]
Morgan Stanley Fined for Blowing Facebook (FB) IPO
Morgan Stanley was hit with a $5 million fine for brazenly breaking the law in their role as the lead underwriter for Facebook's (FB) IPO. The Secretary of the Commonwealth of Massachusetts, William Galvin, levied the fine for what he described as, "...a clear violation of the global … [Read more...]
Analyst Downgrade Apple Stock but it Fights Back
Apple stock (AAPL) trending news again, as it plunged below $500 a share at $499.22, down $10.57, or 2.07% in trading early Monday morning for the first time before recovering to a price of $518 a share at close and $532.52 at the time of this post (12:44EST) on Tuesday. … [Read more...]
Will Instagram Founder Kevin Systrom Face Criminal Charges
In April of this year, Facebook (NASDAQ:FB) acquired the photo sharing site, Instagram for $1 billion. What we did not originally know is that Twitter was reportedly bidding on Instagram for $525 million, according to an article in the New York Times. … [Read more...]
Sprint Nextel Secures Clearwire Deal and Stock Prices Don’t React
Sprint Nextel Corp. (NYSE: S) announced Dec. 17 Clearwire Corp. (NASDAQ: CLWR) accepted its bid to buy the remaining 50-percent stake in the company it does not already own for $2.97 per share—an increase over its original Dec. 13 offer of $2.90 a share. The $2.2 billion price is 128 … [Read more...]
Rumors that John Boehner Will Give into Higher Tax Rates are Circulating
President Barak Obama and House Speaker John Boehner will continue fiscal cliff talks at the White House as of Monday morning according to reports issued from the White House. The meetings, however, remain shrouded in a sense of anticipation, however, as no other information was … [Read more...]
Apple Stock (AAPL) Feels the Pressure of iPhone 5 Sales
Apple (AAPL) unveiled its iPhone 5 in China Friday and quickly sold 2 million units. These sales over the weekend almost match the entire third quarter sales for the IPhone 4S, which was 2.1 million units. However, the company's stock still dropped by almost 4%. Apparently, Wall … [Read more...]
Federal Reserve Implements Radical New Policy to Keep Interest Rates Low
Federal Reserve Chairman Ben Bernanke announced a radical new policy the Fed will being using. The new policy is getting unprecedented support, but it is so far afield from past policies it may take many off guard. Federal Reserve Bank of Richmond president Jeffrey Lacker was the only … [Read more...]
Freddie Mac Reports Mortgage Interest Rates Near Record Low
As of Thursday, Freddie Mac has reported that interest rates have reached near record lows, with rates on 30 year mortgages dropping as low as 3.32 percent from last week’s average of 3.34 percent and last year’s average fixed rate of 3.94 percent. This means rates are hovering just … [Read more...]
Federal Reserve Limits Bank Deals to Avoid Another Bailout
A major problem in 2008 was the fact that we had large banking institutions with big balance sheets and the Federal Reserve response was to save these institutions via taxpayer bailout. This is where the term “too big to fail” comes from. Over four years later, Chairman Ben Bernanke … [Read more...]
Should Obama Help Unions Oppose Right-to-Work Laws
President Obama broke his silence on right-to-work laws last week when he spoke out against the labor battle transpiring in Michigan. “We should do everything we can to keep creating middle-class jobs that help folks rebuild security for their families,” Obama said in a Dec. 10 … [Read more...]
Lowest Gas Prices of the Year Just in Time for the Holidays
With this Christmas travel season expected to be the busiest in years, lower gas prices will be a welcome change for travelers. According to industry analysts, the average U.S. gas price is expected to dip below the $3.28 per gallon average that Americans saw at the beginning of the … [Read more...]
Fiscal Cliff Looming Over US as Tax Increase Battle Heats Up
With the fiscal cliff looming ever nearer, talks between Republican House Speaker John Boehner and President Barak Obama are appearing to increase in tension. Reports indicate that the wedge issues that cannot be resolved in negotiation are tax hikes for the wealthiest 2 percent of … [Read more...]
Senate Considers Extending Deposit Insurance Program (TAG)
During the eye of the Great Recession, it appeared that everything was headed for disaster. Banks were failing, credit was frozen, markets were falling off a cliff, etc. Congress took the opportunity to extend deposit insurance to over $250,000 limit in an effort to prevent bank … [Read more...]
Health Care Reform Causing Businesses to Cut Employees to Part Time
After receiving heavy criticism, Darden Restaurants—parent company of Olive Garden, Red Lobster and Longhorn Steakhouse—has retracted its threat to cut employee hours part time in order to avoid offering health insurance. In October Darden announced its plans to “experiment” with … [Read more...]
Best Buy (BBY) Stock Plummets 15% on Schulze Buyout News
Best Buy (NYSE: BBY) and its co-founder, and largest shareholder, Richard Schulze have agreed to extend the deadline on the Schulze buyout offer until after the holidays. The talks spurred a 15% jump in the company's stock price yesterday, but news of postponing the consummation of … [Read more...]
Yahoo Making Moves with PayPal Co-Founder Max Levchin
Yahoo! Inc. (NASDAQ: YHOO) has definitely been experiencing a transition year this year as many executives are leaving and being replaced. The biggest position change came at the CEO position for the company, when Marissa Mayer took the reigns earlier this year. Additionally, Daniel … [Read more...]
Freddie Mac: Mortgage Rates Near Record Lows, Home Prices Up in November
The housing market may have a long to reach full recovery, but it’s certainly bouncing back from the Great Recession. According to a new report from Freddie Mac, rates for 30-year mortgages have dropped to just 3.32 percent, barely more than the record low dating back to 1971. … [Read more...]
Greece to Get 34.3 Billion Euros in Bailout Money
The Eurogroup, a meeting of the finance ministers of all the members of the Eurozone, agreed to doll out 34.3 billion euros to Greece as part of a larger bailout plan that has famously included austerity measures that have met with much resistance. “The disbursement today will allow … [Read more...]
