Microsoft’s CEO Snafu, Qihoo’s Huge Quarter, and 3 More Hot Stocks
Microsoft Corp. (NASDAQ:MSFT): Shares are settling a bit after last week’s rush in the wake of CEO Steve Ballmer’s departure announcement, which, according to AllThingsD, was ”neither planned nor as smooth as portrayed.” Sources told the publication that Ballmer’s timeline for leaving his post was bumped up “drastically” and signaled that Bill Gates may not have been as supportive of chief executive as he once was.
Qihoo 360 (NYSE:QIHU): A strong earnings report has helped fuel a 10 percent-plus surge in shares. The company reported earnings per share of 40 cents (beating by 14 cents), and revenue of $151.7 million (beating by $7.51 million). Qihoo expects its third-quarter revenue to fall in at $181 million-$183 million, well above a $162.9 million consensus projections. Impressively, Qihoo estimates 95 percent penetration among Chinese PC Web users for its PC security products and 70 percent penetration among Chinese smartphone users for its mobile security products.
America Movil SA (NYSE:AMX): America Movil will support KPN’s sale of its German mobile unit E-Plus to Telefonica Deutschland (NYSE:TEF) after the Spanish-owned telecom operator improved the deal terms. America Movil is a 30 percent stake holder of KPN and is looking to acquire the rest of the company. KPN will now receive 20.5 percent in Telefonica Deutschland instead of the previously discussed 17.6 percent, raising the value of the transaction to 8.55 billion euros ($11.4 billion) from 8.1 billion euros, Seeking Alpha reports.
Amgen (NASDAQ:AMGN): Amgen announced Sunday that it will acquire Onyx Pharmaceuticals (NASDAQ:ONXX) for $125 per share, or $10.4 billion. This makes the purchase the fifth-largest biotechnology deal in history and puts a 4.2 percent premium on Amgen’s earlier offer of $120 per share. Amgen will now have access and full rights to Kyprolis, a potential blockbuster treatment for multiple myeloma.
AstraZeneca Group (NYSE:AZN): AstraZeneca has arranged to purchase U.S. biotech Amplimmune for up to $500 million, giving AstraZeneca another channel in its expanding pipeline of cancer treatments. Amplimmune, a privately held label, is based in Maryland and is “focused on developing novel therapeutics in cancer immunology.”
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