Facebook’s Zuckerberg Talks Engagement, Sirius Gets Sued, and 3 More Hot Stocks
Facebook (NASDAQ:FB): During his talk Wednesday night, CEO Mark Zuckerberg said that Facebook engagement stronger on mobile than PCs, “countering the view that matching Facebook’s huge share of PC usage on mobile will be tough due to the fact it’s simply one of many installed apps on user devices,” he said. He also reiterated that the company isn’t folding the Facebook Home interface for Android phones despite the criticisms and beat-downs it received in the app store.
Sirius XM Radio (NASDAQ:SIRI): Sony, Universal, and ABKCO are reportedly filing a lawsuit against Sirius XM on the basis that the satellite radio service used recordings from before 1972 without permission. The core issue at hand revolves around a federal copyright protection law that only went into effect in 1972; if it loses, Sirius will become increasingly vulnerable to other suits of the same nature.
Verizon Communications (NYSE:VZ): Verizon apparently received orders for $100 billion of new bonds from more than 1,000 investors, as it sold $49 billion worth of debt to make for the largest corporate bond offering in U.S. history. Moreover, everyone turned out winners in the deal: Verizon received a huge block of the money it needs, and at relatively low rates, to pay for the $130 billion acquisition of Vodafone’s 45 percent stake in Verizon Wireless; the banks involved made $265 million in fees — about $41 million apiece. Investors, meanwhile, walked away with a higher-yielding debt from a strong U.S. company.
Chesapeake Energy Corp. (NYSE:CHK): Chesapeake will be paying up to $7.5 million to settle a class-action lawsuit with Pennsylvania landowners, who said that the energy company was deducting large fees from their royalty checks. The settlement terms reimburse the plaintiffs who had “market enhancement” clauses in their leases and bars Chesapeake from deducting certain percentages of fees from plaintiffs’ royalty checks in the future.
Royal Dutch Shell (NYSE:RDSA): Shell has appointed John Abbott as refining director to succeed Ben van Beurden, who will become CEO in January. Abbott is a 30-year industry veteran and has been running about 30 refineries and petrochemical plants for Shell.