Facebook CFO Sells Huge Share Block by Prearrangement and 2 Other Hot Stocks to Watch
Facebook Inc. (NASDAQ:FB): Current price $47.64
By a prearranged selling plan, Facebook CFO David Ebersman sold close to 1 million shares of stock on Tuesday, which was more than all the stock he had sold cumulatively since Facebook’s 2012 initial public offering. Ebersman’s sale of 911,700 shares brought him around $43 million, according to a U.S. Securities and Exchange Commission filing. The shares came to 8.5 percent of Ebersman’s equity in Facebook including un-exercised stock options and unvested shares, according to a company spokesman.
Microsoft Corp. (NASDAQ:MSFT): Current price $37.20
Microsoft on Wednesday debuted the new version of its Visual Studio tools for developers at an event in New York. The update contains several user interface improvements, more efficient tools for examining existing code in its context, and support for Windows 8.1 application development. A surprise announcement was the launch of Visual Studio Online, a set of development services that run on Windows Azure, concentrating on agile team collaboration, Application Lifecycle Management, and support for Windows Azure.
Extended Stay America Inc. (NYSE:STAY): Current price $23.18
In its Wednesday IPO, shares of Extended Stay America are up by more than 16 percent after raising $565 million. The stock had risen by 12 percent to $22.39 at 9:41 a.m. Eastern Time after selling 28.25 million shares at $20 apiece. The company, based in Charlotte, North Carolina, initially offered the stock at between $18 and $21. Extended Stay, which was held equally by Blackstone Group LP, Centerbridge Partners LP, and Paulson & Co., will use proceeds to pay debt, according to a regulatory filing. None of those firms sold any of their shares.
Don’t Miss: Here Is Netflix’s New Look.