LinkedIn Denies Wrongdoing, Trends Should Benefit Salesforce, and 3 More Hot Stocks
LinkedIn (NYSE:LNKD): LinkedIn shares are sliding somewhat as the company denied allegations in a lawsuit that it breaks into members’ accounts, and insisted it never sends invitations to join the service on a user’s behalf without permission. Four members who are seeking damages on behalf of all LinkedIn users filed the suit; they allege the company is collecting the addresses of their contacts and spamming them with multiple requests to sign up.
Salesforce.com (NYSE:CRM): Research firm Gartner estimates that by 2017, the largest portion of corporate IT spending will be controlled by chief marketing officers rather than CIOs. This could greatly benefit Salesforce, according to CLSA’s Ed Maguire, particularly following its $2.5 billion deal to acquire ExactTarget. Maguire also notes that Salesforce’s data integration deal with Workday (NYSE:WDAY), combined with its previous deal with Oracle (NASDAQ:ORCL), “reinforce [Salesforce’s] prominence as a de facto CRM standard.”
Walt Disney Co. (NYSE:DIS): The House of Mouse continues to move its film strategy away from big high-risk, high-return tentpole films and instead rely more heavily on franchise films from Lucasfilm and Marvel Entertainment, Seeking Alpha notes, adding that “the top brass at Disney will increasingly seek to avoid any costly mistakes, a plan that could mean pushing out the release window of even more films and some box office revenue as a result.” Disney just recently ended its ongoing partnership with producer Jerry Bruckheimer.
Lockheed Martin (NYSE:LMT): Lockheed has landed a $3.9 billion contract that charges the defense contractor to produce elements of the Terminal High Altitude Area Defense weapons system for the Missile Defense Agency and the United Arab Emirates. The terms include the manufacturing and delivery of a maximum of 110 interceptors for the U.S. Army; Lockheed is already under contract for five THAAD batteries for that division.
eBay Inc. (NASDAQ:EBAY): PayPal is close to buying rival online payments platform Braintree, according to statements from sources acquired by The Wall Street Journal. TechCrunch reported earlier this month that Braintree was “shopping itself around” and had talked with PayPal and others, but was asking $1 billion, which TechCrunch deemed to be “unrealistic.”