Shares of Amazon.com Inc. (AMZN) are higher by nearly 2% to $511.20 in early morning trading on Tuesday after the e-commerce giant announced plans to sell a $50 tablet with a 6-inch screen in time for the holiday season. The tablet would be one of the least-expensive ones on the market and half the price of the company’s current Fire HD 6-inch tablet.
Microsoft Corporation (MSFT) shares surged 2.42% to $43.64 in early trading after the software giant confirmed the acquisition Tuesday of Israeli cloud cybersecurity start-up Adallom.
The two companies did not disclose the size of the deal but a source close to the situation told CNBC it is “one of the largest” of the group’s recent acquisitions, and that the price tag is “quite a few hundred million dollars”.
Shares of Apple Inc. (AAPL) are up $3.11, or 2.85%, at $112.38. The tech giant is expected to hold a product event on Wednesday Sept. 9 at 13:00 p.m. ET. The main item that will be introduced is the iPhone 6S and iPhone6S Plus. These iPhones are expected to be similar to the prior model, but one notable feature is expected to be ‘Force Touch’ capability. Other general additions we may see in the new iPhone include a faster processor and a new rose gold color option. That said, the event is going to be about a lot more than the iPhone 6S, and could also include important updates on Apple TV.
Concord Healthcare – The Canadian specialty hospital management solution provider announced it will acquire rare disease drug maker Amdipharm Mercury for about $1.9 billion.
Including debt, the deal is valued at $3.3 billion.
Meredith Corporation (MDP) shares are up 9% to $50.16 in early morning trading. The move comes on a big volume too with the issue currently trading more than 1 million shares, compared to the average volume of 253K shares.
Media General (MEG) said it will acquire all the outstanding shares of Meredith in a cash and stock deal valued around $2.4 billion to create the third largest TV station company in the U.S.
The cash-and-stock transaction for Meredith represents a PPS of $51.53, a 12% premium over Friday’s closing price of $45.94. Including debt, the deal is valued at $3.1 billion.