Facebook Purchases Monoidics Assets and 2 Heavily Traded Stocks to Follow
Facebook (NASDAQ:FB): Current price $26.18
On Thursday, Facebook said that it has acquired the assets of the U.K. software-verification company Monoidics. This is not a full-company purchase, as only Monoidics’ tech team will be joining Facebook’s London engineering offices after the close. The company creates programs that check other software for bugs and problems, and the buyer will employ Monoidics’ tools to help enhance the development of Facebook’s mobile products. Facebook seems to be concentrating on this area, as it has accelerated product development for its Android and iOS apps during the past few years, because of the transition of the industry toward mobile.
Taiwan Semiconductor Manufacturing Company., Ltd. (NYSE:TSM): Current price$ 16.81
Overnight, the company posted second quarter earnings of 33c, a bit above the 32c consensus. Revenue was up by 21.6 percent year-over-year to NT$155.89 billion, while the firm’s gross margin for the quarter stood at 49 percent. TSM added that, “While we continue to expect the demand for our advanced technologies to grow strongly, we expect the IC supply chain to begin managing inventories in the second half of this year, which will moderate somewhat the overall demand for our wafers.” Accordingly, the firm predicted that third quarter revenue will be between NT$161 billion and NT$164 billion, and gross profit margin will be in a range between 47 and 49 percent. Meanwhile, shares are down almost 9 percent in late afternoon trading.
Fifth Third Bancorp (NASDAQ:FITB): Current price $16.81
Fifith Third said Thursday it has extended over $11.4 billion in new and renewed credit to business customers from April through June. In the first six months of this year, the bank lent in excess of $19.1 billion to businesses throughout its region. Executive Vice President and chief of Business Banking John Bultema said, “The needs of today’s business owners continue to change. Fifth Third works closely with customers to understand their credit needs and find the right financing solutions to meet their unique business goals.”
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