Facebook Inc. (NASDAQ:FB): Users of the social media site can now grant upload privileges for an album to up to 50 users, each of whom can share up to 200 photos. The album’s original creator can decide whether the pictures can be viewed only by contributors, by contributors and their friends, or everyone, Mashable is reporting. ”Right now, if you were at a party and there were three different albums created, you might not be able to see all the photos [based on privacy settings], which is kind of confusing and frustrating,” Bob Baldwin, the software engineer at Facebook who spearheaded the project, said to the publication.
Best Buy Co. (NYSE:BBY): Founder Richard Schulze unveiled his plan to sell an undisclosed amount of stock in the retailer, causing shares to sink around 2 percent. The stock sales, which will be made through a Rule 10b5-1 trading plan, are “part of his personal long-term strategy for asset diversification and liquidity.” Schulze is a 20 percent shareholder in the company.
Nokia (NYSE:NOK): Nokia shares are sliding after Bernstein reports that the Finnish handset maker’s cash position is “less comfortable than it looks,” adding that that the company’s second-quarter net cash flow of 3 billion euros in its handset division doesn’t take into account “a number of hidden liabilities.” The firm adds that it “wouldn’t be surprised” if Nokia announces another restructuring and a strategy shift by the end of the year.
ImmunoGen Inc. (NASDAQ:IMGN): ImmunoGen Chief Financial Officer Gregory Perry has resigned to “pursue other interests,” according to a press release. He will leave the company September 13; CEO Daniel Junius will be acting as chief financial officer until the biotechnology company can find a replacement.
Starwood Hotels (NYSE:HOT): Starwood is gearing up for the first hotel of four planned for Iraq in 2014 under the Sheraton and Aloft brand name. Starwood will be partnering with Mase Co. as it makes its way into the Kurdistan Autonomous Region in northern Iraq and will be the first internationally branded hotel in the emerging city of Dohuk.