Morning Buzz: Facebook (FB), Cree, Inc. (CREE), (AMZN), Polycom (PLCM)

Facebook (FB) — Facebook’s WhatsApp texting service said it has strengthened its encryption, making the app unreadable to anyone, including the authorities.

Shares of Cree, Inc. (CREE) are plunging by 18.14% to $23.78 in pre-market trading on Wednesday after the company lowered its Q3 guidance below analysts’ estimates noting product delays and other issues at its lighting business. (AMZN) — The Seattle online retailer will release a new Kindle e-reader with a rechargeable protective case with extended battery life, according to the WSJ.

Shares of Amazon are up nearly 4 points at $589.88 as of this writing.

Polycom, Inc. (PLCM) shares surged 10.70% to $12.00 in pre-market trading following a Bloomberg report saying the company is in advanced merger talks with Mitel Networks Corp (MITL). The deal would value Polycom at about $1.7 billion, or $12.50 a share, according to the report.

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