Schaeffer's Trading Floor Blog

Buzz Stocks: Netflix, Inc., SINA Corp, RF Micro Devices, Inc., and BlackBerry Ltd

Today's stocks to watch in the news include NFLX, SINA, RFMD, and BBRY

by 2/24/2014 9:22 AM
Stocks quoted in this article:

Futures are pointed slightly higher this morning, with the Dallas Fed's manufacturing survey scheduled for release shortly. In company news, here are some stocks to watch today:

  • According to The Wall Street Journal, Netflix, Inc. (NASDAQ:NFLX) has agreed to pay Comcast Corporation (NASDAQ:CMCSA) in order to get direct access to its broadband network, rather than going through intermediaries. The deal will allow users to stream NFLX content at higher speeds, after experiencing a dramatic slowdown in recent months. (CNET)

  • The upcoming initial public offering of SINA Corp's (NASDAQ:SINA) microblogging service, Sina Weibo, will be managed by Credit Suisse and Goldman Sachs, the Financial Times reported. The IPO will involve about $500 million in shares of Sina Weibo, which is estimated (in total) to be worth upwards of $4.3 billion. (Reuters)

  • RF Micro Devices, Inc. (NASDAQ:RFMD) and TriQuint Semiconductor (NASDAQ:TQNT) have agreed to merge in an all-stock transaction, expected to close later this year. RFMD CEO Bob Bruggeworth will head up the combined company, with TQNT CEO Ralph Quinsey serving as nonexecutive chairman; meanwhile, the board of directors' 10 seats will be evenly split between the two firms. (MarketWatch)

  • Ford Motor Company (NYSE:F) has reportedly chosen BlackBerry Ltd (NASDAQ:BBRY) over Microsoft Corporation (NASDAQ:MSFT) to implement the next generation of F's in-car, voice-activated Sync technology system. Separately, BBRY announced its BBM messaging platform will be coming to MSFT's Windows Phone and Nokia Corporation's (ADR) (NYSE:NOK) Nokia X. (Bloomberg Businessweek; ZDNet)

  • Also, HSBC Holdings plc (ADR) (NYSE:HSBC) reported quarterly earnings. (Reuters)

  • Finally, CNN has canceled prime-time news show Piers Morgan Live, just three years after Morgan took over for longtime host Larry King. "It's been a painful period and lately we have taken a bath in the ratings," Morgan said during an interview. (The New York Times)


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