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Vodafone Jumps on Verizon Talks: Tech Winners & Losers (Update 1)

(Updates from 11:56 a.m. ET with closing information.)

NEW YORK ( TheStreet) -- Salesforce (CRM ) shares are up slightly ahead of releasing its second-quarter results, rising 0.51% to $43.00.

Analysts polled by Thomson Reuters expect Salesforce will earn 7 cents a share on earnings of $939.25 million. In the same quarter 2012, the cloud computing company, the world's number one provider of customer relations management software, earned 11 cents a share on $731.65 million.

In June 2013, Salesforce purchased cloud computing company ExactTarget in cash for $2.5 billion or $33.75 a share, a 52% premium.


Vodafone (VOD ) shares spiked 8.10% to $31.79 after confirming talks with Verizon.

Vodafone owns a 45% stake in Verizon Wireless, its joint venture with Verizon. Today, the British telecom company confirmed that it is in talks with Verizon to sell that stake, worth a reported $130 billion.

The sale would present an attractive deal for Verizon, granting them full control of the world's top wireless carrier and saving them the nearly $10 billion they pay to Vodafone in wireless dividends.

Verizon (VZ ) shares are also up, rising 4.24% to $48.54.


Shares of Zillow (Z ) jumped 7.08% to $95.30 after the completion of its acquisition of StreetEasy.

The Seattle-based online real estate company paid $50 million in cash for StreetEasy, a New York City-based real estate website with about 1.2 million monthly unique users. The deal was announced on August 19.

"We're very excited to officially welcome StreetEasy into the Zillow family," Zillow CEO Spencer Rascoff said in a statement. "StreetEasy has cracked the code in New York City, and its strong, recognized local brand is a complement to Zillow's leading national brand." Michael Smith, the cofounder of StreetEasy, added that the acquisition would allow StreetEasy to "leverage Zillow's expertise, knowledge and resources to continue to bring New Yorkers the best, most accurate and timely real estate data."


Closing prices: CRM rose 2% to $43.65, VOD jumped 8.1% to $31.80 and VZ was 2.7% higher at $47.82.

-- Written by Laura Berman in New York

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