Google Inks Deal With Flextronics and 3 Hot Stocks Changing Hands
Google Inc. (NASDAQ:GOOG): Flextronics (NASDAQ:FLEX) and Motorola Mobility LLC, owned by Google Inc., announced yesterday that the companies have signed an agreement under which Flextronics will purchase Motorola’s manufacturing operations in Tianjin, China, and will also assume the management and operation of their Jaguariuna, Brazil, facility. After the transaction closes, employees and assets at both locations will transfer to Flextronics. In addition, the agreement includes a manufacturing and services agreement for Android and other mobile devices. The companies expect to complete closing activities by the first half of 2013, subject to customary closing conditions including regulatory approvals. Financial terms of the agreement have not been disclosed.
Genworth Financial Inc. (NYSE:GNW): After their board of directors selected Thomas J. McInerney as the company’s president and Chief Executive Officer, Genworth Financial Inc. is trading higher. McInerney most recently served as an adviser to The Boston Consluting Group and previously served as the Chief Operations Officer of ING Groep (NYSE:ING) and President of Aetna Financial Services (NYSE:AET). McInerney’s appointment is effective as of January 1, 2013 and he will also be elected to Genworth’s board of directors. The company says James S. Riepe will continue to serve as non-executive chairman. Acting CEO Marty Klein will re-assume his full-time role as Chief Financial Officer when McInerney becomes CEO. Genworth shares rose 33c, or 4.91%, to $7.05 in early morning trading.
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Morgan Stanley (NYSE:MS): According to the Wall Street Journal, Morgan Stanley, for the first time in more than four years, might ask United States regulators to let the securities firm buy back shares. The bank could make their request as soon as January, as part of the annual “stress-test” process.
Liberty Media Interactive (NASDAQ:LINTA) and TripAdvisor (TRIP) announced that Liberty has purchased a total of 4,799,848 shares of common stock of TripAdvisor from Barry Diller and The Diller-von Furstenberg Family Foundation at a price of $62.50 per share.
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