Facebook’s Instagram ACQUISITION Complete and 4 Tech Titans on the Move
Facebook, Inc. (NASDAQ:FB): Following a long wait, Facebook finally owns Instagram. On Thursday, both companies announced the closing of the constantly talked about acquisition. The Federal Trade Commission, which was scrutinizing and reviewing the deal since it was announced in April, approved it last month. At a time, the cash-and-stock deal was worth $1 billion. However, due to the fall in Facebook’s stock since then, at Wednesday’s closing price of $18.58, the deal would be worth only $727 million. The shares traded up $0.32 (1.70%) recently at $18.90.
Apple Inc. (NASDAQ:AAPL) iPhone sales have decreased lately, a trend research firms like Gartner and IDC state that it is most likely consumers postponing purchases while they wait for the iPhone 5. However, the wait is near an end. While the Samsung Galaxy S III seems to be outselling the Apple iPhone 4S, next week, Apple will hold a press conference for the introduction of what’s widely expected to be the iPhone 5. And early signs point to strong sales. The shares traded up $7.61 (1.14%) recently at $677.84.
Google Inc. (NASDAQ:GOOG): According to new research, Facebooks’s (NASDAQ:FB) U.S. mobile-advertising revenue should quintuple next year, which will push it into the top ranks of the mobile-ad business behind Google (NASDAQ:GOOG). In a report that will be released today, eMarketer Inc. predicts that Facebook will bring in nearly $72.7 million in U.S. revenue this year from advertising on mobile devices, the Wall Street Journal reports.The shares traded up $18.08 (2.66%) recently at $698.80.
Microsoft Corporation (NASDAQ:MSFT) intends to hire 1,000 additional staffers in China and increase its pace of investment in the fast-growing market while it makes a new push in a country where it trails competitors like Apple Inc. and Google Inc. The shares traded up $0.90 (2.96%) recently at $31.29.
Intel Corporation (NASDAQ:INTC): Huawei signed a memorandum of understanding (NYSE:MOU) with Intel, indicating that the two companies intend to work together in several fields. The firms will collaborate on new server, called datacentre, storage and cloud computing products, with a view to selling them in Huawei’s home market of China and elsewhere, the pair announced on Thursday. No further details on the new products were given. The shares traded up $0.58 (2.38%) recently at $24.97.
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