by Alyssa Oursler | June 5, 2013 10:10 am
General Motors (GM) will return to the S&P 500 at the end of the trading day Thursday, four years after bankruptcy and a government bailout led to its expulsion. InvestorPlace feature writer Dan Burrows thinks it’s a “symbolic victory” and nothing more, though.
It was announced Tuesday that Salesforce.com (CRM) will spend more than $2.3 billion to buy marketing software company ExactTarget (ET). The deal valued ET shares at $33.75, or more than 50% of their Monday closing price.
In response to the Salesforce purchase, IPO expert Tom Taulli wrote that he thought the move was just the start of M&A activity in the cloud sector. Already, he looks to be right. IBM (IBM) — the world’s largest seller of computer services — just agreed to buy SoftLayer Technologies — a cloud-computing storage provider — for $2 billion.
Zynga (ZNGA) ended 12% in the red Monday after the gaming company announced plans to slash more than 500 jobs — around 20% of its work force — and close three offices. The move will be the largest layoff in the company’s history and should save the mobile gaming company $70 million to $80 million.
Finally, Apple (AAPL) reportedly has worked out a deal with Warner Music Group, sparking speculation that its iRadio streaming music service will be launched soon, which many think could be bad news for rival Pandora (P).
Check out past “6 Stocks in 60 Seconds” clips here.
For more videos — including exclusive access to full-length interviews and early access to weekly updates — like us on Facebook or follow us on Twitter. As of this writing, Alyssa Oursler did not hold a position in any of the aforementioned securities. Follow her on Twitter: @alyssaoursler.
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