This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apple Gears Up for WWDC: Tech Weekly

Speaking of Facebook, the IPO continues to be labelled a disaster, as the fallout from the troubled offering continues. On Tuesday NASDAQ OMX Group (NDAQ - Get Report) announced that it's working to compensate investors for the exchange's technological blunders.

The board of the Nasdaq OMX Group has approved a "voluntary accommodations fund" of approximately $40 million. The Securities and Exchange Commission still has to review the proposal, but approximately $13.7 million would be paid in cash to member firms. Original estimates put the payout as high as $100 million, or perhaps greater.

The rest of the money would go toward crediting members to reduce trading costs. The payments are expected to be delivered within six months for the vast majority of firms, the exchange operator said.

Facebook launched its own app store, named App Center, on Thursday. The move represents a clear sign of competition with Apple and Google (GOOG), which have their own app stores.

Shares of Facebook fell sharply during the week, closing down 2.24% to wind up at $27.10. Nasdaq shares edged higher, closing the week up 3.46% at $22.12. (CRM - Get Report) finalized its acquisition of Buddy Media on Monday, purchasing the social enterprise software company for $689 million.

Buddy Media, which counts Ford (F), HP (HPQ) and L'Oreal among its customers, helps firms exploit their social media marketing with a technology platform that measures the effectiveness of their efforts and lets them test new initiatives.

The Buddy Media deal adds a key string to the social media bow, according to CEO Marc Benioff.

" now has the number one players in social listening and marketing - Radian6 and Buddy Media," he explained, in a statement. "With CMOs surpassing CIOs in spend on technology within the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity."

Salesforce will pay approximately $687 million in cash and equity for Buddy Media. The acquisition is expected to close during the company's fiscal third quarter.

Shares of Salesforce ended the week up 4.2% at $136.49.
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.09 -1.80%
CRM $76.46 1.40%
CSCO $27.35 -2.20%
FB $118.30 1.30%
NDAQ $61.95 -1.40%


Chart of I:DJI
DOW 17,825.76 +52.12 0.29%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs