Mid-Day BUZZING STOCKS: Microsoft to Announce Tablet Plans, Facebook Investors Gain HOPE
Shares of Microsoft Corp. (NASDAQ:MSFT) are up over 2 percent this afternoon. Sources tell AllThingsD that the tech company will unveil plans to make its own Windows 8 tablets at an L.A. event on Monday. AllThingsD says, “Sources say that Microsoft concluded that it needs its own tablet, with the company designing both the hardware and software in an effort to better compete against Apple’s (NASDAQ:AAPL) strengths. Microsoft’s tablets may include machines running ARM-based processors as well as models running on traditional PC processors, sources said.”
GameStop Corp. (NYSE:GME) shares dropped nearly 3 percent in early trading, though the stock has evened out this afternoon. A new report by the NPD shows that U.S. retail sales of video-game hardware, software and accessories plunged 28 percent in May to $517 million. It is the sixth consecutive month of declines.
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Investors appear to have more confidence in Facebook’s (NASDAQ:FB) ability to monetize users. Shares of the social-media giant edged have edged up 2.26 percent so far today, after jumping 3.74 percent on Thursday and breaking through resistance at $28 per share. Facebook recently announced plans to launch Facebook Exchange, a real-time bidding platform for advertising on its site.
Dendreon Corp. (NASDAQ:DNDN) shares increased 0.80 percent in morning trading, but had problem holding onto gains, and fell more than 1 percent by mid-afternoon. John Johnson, chief executive officer, has talked of the possibility of the company seeking a marketing partner in Europe for its Provenge cancer therapy in an effort to boost sales. Shareholders have been unhappy about the biotechnology company’s falling fortunes, with the stock tumbling as much as 82 percent in the past year.
Family Dollar Stores Inc. (NYSE:FDO) shares were down 0.70 percent in afternoon trading The company received a downgrade from Barclays (NYSE:BCS) to Equalweight from Overweight, with a price target of $73 on shares. Shares hit as high as $74.73 on Thursday, representing a new all-time high, and currently traded just shy of $73.
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