Microsoft Pulls Plug on MSN TV and 2 Other Hot Stocks To Watch
Microsoft Corporation (NASDAQ:MSFT): Current price $34.18
Microsoft is pulling the plug on MSN TV, the set-top box tech that it bought as WebTV for $425 million in 1997, and then rebranded as MSN TV four years later. The service permitted users to surf the Internet from their televisions, and its last day will be September 30, according to a report by AllThingsD on Sunday. Microsoft gave the reasons behind the closure as “WebTV (later called MSN TV) started in 1996 with the goal to bring new people ‘online’ and to give those already online an easy, hassle-free means of accessing the Internet from the comfort of their homes. Later, MSN TV 2 was released with vastly greater power and features. Since then, the web has continued to evolve at a breathtaking pace, and there are many new ways to access the Internet.”
Citigroup (NYSE:C): Current price $49.68
The Wall Steet megabank has appointed former Ernst & Young Chairman and Chief Executive James S. Turley and Operating Partner at General Atlantic Gary Reiner to its board of directors. Turley and Reiner will join the board of banking subsidiary Citibank NA, according to a statement released by Citi on Monday, which also reported that Turley will join the board’s audit committee as well. These appointments bring the number of directors to 13, which is the minimum suggested in the bank’s corporate-governance guidelines.
Boston Scientific Corporation (NYSE: BSX): Current price $9.28
Boston Scientific will acquire Bard EP, the electrophysiology arm of C.R. Bard, at a cash price of $275 million. The purchased unit is to be integrated into the buyer’s existing electrophysiology business, which is under its rhythm management division. Boston Scientific believes that the net impact of the transaction on earnings per share will be “immaterial” for this year, and around accretive by one cent in 2014 on a non-GAAP basis. The transaction should close in the second half of 2013.