Microsoft INVESTS in Facebook and 2 HOT Weekend Stories Not to Miss
Chief Executive Jamie Sokalsky of Barrick Gold Corporation (NYSE:ABX) apparently thinks his company’s shares are a good investment, as he purchased 50,000 shares last week at $32.59 each while a director bought 100,000. Perhaps the timing of the purchases was deliberate, since only days ago the firm missed its second quarter estimates, lowered its production outlook and admitted that capital costs at its Pascua-Lama project might have reached $8 billion.
A bankruptcy judge will allow CME Group Inc. (NASDAQ:CME) to pay $130 million to the trustee who is responsible for liquidating MF Global Holdings (MFGLQ.PK), which will then cause customers and other creditors to be payed. The said trustee calculates that a $1.6 billion deficit between available and owed money still exists, but distributions that cover some 80 percent of the funds missing from commodity customer accounts will be made.
Microsoft Corporation (NASDAQ:MSFT) currently does not intend to divest its 26.2 million share, 1.7 percent investment in Facebook (NASDAQ:FB) when the lock-up expires next week, according to Bloomberg. The stake was acquired in 2007 for $240 million, and holds a complex strategic value to Microsoft. Bing results are included in Facebook’s search engine; Microsoft sells Facebook ads; and finally, Bing added public Facebook content to its results not so long ago.