Shares of Youku Tudou Inc. (YOKU) are up 23.64% this morning on news Alibaba Group Holding (BABA) is offering to buy shares of video-streaming website Youku Tudou it doesn’t already own for $4.6 billion, or $26.60 p/share. The offer represents a premium of more than 30% of YOKU’s last closing price on the NYSE.
The e-commerce giant already owns 18.3% of Youku Tudou which is also known as ‘China’s YouTube’.
Advanced Micro Devices, Inc. (AMD) shares are up $0.01 to $1.98 in pre-market trading Friday after the company reported its third-quarter earnings results.
The chipmaker posted a loss of ($0.09) per share on revenues of $1.06 billion, down 25.8% from a year ago. Analysts were expecting EPS of ($0.12) on revenues of $995.82 million.
Looking ahead, AMD guided Q4/15 revenues of $955 – $1.29 billion, as compared to analysts’ expectations of $996.19 million.
Shares of the Sunnyvale, Calif.-based company currently print a yoy loss of 24.52%, and a year-to-date loss of around 26%.
SFX Entertainment, Inc. (SFXE) shares surged 42.31% to $1.48 in the pre-market trading session after CEO Robert F.X. Sillerman disclosed a 39% active stake in 13D filing. On October 14, 2015, Mr. Sillerman delivered a non-binding letter to co.’s board of directors offering to acquire all shares he doesn’t already own for $3.25/share.
Schlumberger Limited (SLB) reported third-quarter EPS of $0.78, compared to the consensus estimate of $0.77. Revenues slumped 33% from last year – hurt by oil prices – to $8.47 billion. Analysts expected revenues of $8.57 billion.
“[T]he market outlook for the coming quarters looks increasingly challenging with activity expected to be reduced further, as lack of available cash flow exhausts capital spending for a number of our customers, leading them to take a conservative view on 2016 E&P [exploration and production] spending in spite of any gradual improvement in oil prices,” CEO Paal Kibsgaard said in a statement.
SLB is currently down $1.45 to $74.71 on 185K shares.