Facebook’s $3 Billion Offer for Snapchat Said to Be Upped By Google and 2 Other Hot Stocks to Watch
Facebook Inc. (NASDAQ:FB): Current price $49.16
According to The Verge, the idea that Facebook tried to acquire Snapchat at $3 billion was just settling in when a new report by Valleywag implies that Google beat the offer with a $4 billion bid. This rumor was tweeted by GigaOm founder Om Malik before Valleywag completed the story. According to the latter, at about the same time as the Facebook offer, Snapchat Chief Executive Evan Spiegel looked to Google for “strategic investment” in his instant messaging photo application, but then decided to pass up both Google and Facebook’s offers, thinking that at the pace its traffic is growing, Snapchat might soon be valued even higher.
General Electric Co. (NYSE:GE): Current price $27.21
GE wants to spin off a portion of its North American retail finance arm in 2014 as a separately traded public company in a long-term endeavor to generate more profit from manufacturing and less from the volatile financial sector. The company said on Friday that it will float some 20 percent of the retail finance division in the initial public offering. The unit oversees private-label credit cards, or loans for customers at Pep Boys, AGCO Corp’s Massey Ferguson, La-Z-Boy Inc., and Wal-Mart Stores, among others.
The Western Union Co. (NYSE:WU): Current price $16.29
On Friday, Western Union introduced a new transactional website in Russia. The company now has online transactional services in 24 countries, allowing consumers to send money to more than 200 countries and territories worldwide. The new online service in Russia was begun in cooperation with Moscomprivatbank (banking group PrivatBank). Friday’s announcement extends the scope of online capabilities available to consumers in Russia as a result of that relationship.