Facebook CEO to Seed Fund Panorama Education and 2 Other Hot Stocks to Watch
Facebook Inc. (NASDAQ:FB): Current price $54.05
Startup Panorama Education is set to announce Monday that, through Startup: Education, Mark Zuckerberg will co-lead a $4 million round of seed funding to help it grow its business. Panorama employs surveys of parents, teachers, students, and staff to provide school districts feedback about various topics. At the moment, Panorama says that it is working with more than 4,000 schools. Panorama intends to use the new funding in part to offer a new tool without charge to individual teachers and add analytics features to its platform.
J.C. Penney & Co. (NYSE:JCP): Current price $6.78
J.C. Penney shares are down about 2.6 percent Monday, having set another 52-week low, at $6.65, after analyst Mary Ross-Gilbert at Imperial Capital cut her price target on the stock from $5 to $1. She warned that the historic retailer could seek bankruptcy protection in 2014, writing in her investor note that recent news reports say J.C. Penney has indeed hired a bankruptcy attorney and is no longer receiving credit from Canada’s export agency. While these reports may be inaccurate or misleading, Ross-Gilbert said they “appear to be wearing down” J.C. Penney’s management and its vendors. The stock has fallen by almost 50 percent in the past month.
Tellabs Inc. (NASDAQ:TLAB): Current price $2.46
Newman Ferrara LLP has initiated an inquiry into potential claims against Tellabs’s board concerning a proposed acquisition of Tellabs by the investment firm Marlin Equity Partners. Tellabs will be purchased by Marlin in deal valued at around $891 million, through which Tellabs shareholders will receive $2.45 per share in cash for each share of stock owned. However, the offer price represents a premium of only 4.3 percent over the close on Friday and is well below its 52-week trading high of $3.63 per share. The offer price is also below Tellabs’s book value of $2.80 per share as of June 13.