eBay’s PayPal Plans to Reduce Workforce and 4 Hot Stocks Moving Now
Texas Instruments Inc. (NYSE:TXN): Amazon.com (NASDAQ:AMZN) is in advanced talks for the purchase of mobile chip business, Texas Instruments, reports Israeli financial newspaper Calcalist, according to Reuters.
Abbott Laboratories (NYSE:ABT): According to Bloomberg, Abbott Hepatitis C drugs have cleared the virus in 99 percent of patients.
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Yongye International, Inc. (NASDAQ:YONG) announced that its board received a preliminary, non-binding, proposal letter with the date of October 15 from Zishen Wu, which is the company’s chairman and CEO, Full Alliance International Limited, MSPEA Agriculture Holding Limited, and Abax Global Capital, on behalf of funds managed and/or advised by it and its nominee entities and its and their affiliates, for the acquisition of all outstanding shares of the company’s common stock that is not currently owned by the Buyer Parties in a going private transaction of $6.60 per share of common stock in cash, subject to certain conditions.
eBay Inc.’s (NASDAQ:EBAY) PayPal unit intends to cut as much as 3 percent of its workforce, or 300-400 employees, Reuters reports. The cuts will probably be in product development, technology, and marketing.
Microsoft Corporation’s (NASDAQ:MSFT) next blockbuster game, Halo 4, was leaked online and is now being pirated, according to Business Insider. The game, made by Microsoft’s 343 Industries, is scheduled to be released on Xbox beginning on November 6. Microsoft claims that it is working along with its security teams and law enforcement to find a solution.