Amazon.com Among Friday’s Hottest Stocks in Market Action
Amazon.com, Inc. (NASDAQ:AMZN): Texas Comptroller of Public Accounts Susan Combs and Amazon.com announced an agreement that will lead to the creation of thousands of new jobs in Texas. According to the agreement Amazon plans over the next four years to create at least 2,500 jobs and make at least $200M in capital investments in the state and will begin to collect and remit Texas sales tax on July 1. The agreement resolves all sales tax issues between Texas and Amazon. Combs said, This is an important step in leveling the playing field in Texas; however, Congress should enact federal legislation that will give states access to revenues that are already due, which would resolve this issue fairly for all retailers and all states. Amazon’s Vice President of Global Public Policy Paul Misener said, We strongly support the creation of a simplified and equitable federal framework, because Congressional action will protect states’ rights, level the playing field for all sellers, and give states like Texas the ability to obtain all the sales tax revenue that is already due. Shares of Amazon.com, Inc. are trading 12.43% higher today.
Expedia Inc (NASDAQ:EXPE): Lazard Capital raised its price target for Expedia citing the company’s strong Q1 results and keeps a Buy rating on the stock. Shares of Expedia Inc are trading 27.52% higher today.
Warner Chilcott Plc (NASDAQ:WCRX): After the Times of London reported that Bayer (BAYRY) may make a $32 per share offer for Warner Chilcott (NASDAQ:WCRX), Cantor says a potential deal would make strategic sense for Bayer. Further, the firm believes a takeout would represent an ideal exit for Warner Chilcott, as the company faces challenges from a government marketing investigation and generic overhangs. Shares of Warner Chilcott Plc are trading 10.35% higher today.
Aware, Inc. (NASDAQ:AWRE): Aware announced that it has signed an agreement for the sale of selected patents and patent applications to Intel (NASDAQ:INTC) for approximately $75M, subject to customary closing conditions and any required regulatory approvals. The patents and patent applications relate to WiFi 802.11n/ac, LTE and Wireline Home Networking. The sale is part of our patent management operation’s efforts to sell and/or license portions of our patent portfolio. Global IP Law Group, LLC represented Aware in this transaction. Shares of Aware, Inc. are trading 54.54% higher today.
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