News Corp & Move Inc.
News Corp is expanding its digital presence with its latest acquisition. The media company is buying Move Inc. the owner of Realtor.com for $950 million. The company owns one of the most trafficked websites for property listings in the U.S., giving the Wall Street Journal a chance to expand into the real estate market. Shares of News Corp fell two percent to $16.11. Move Inc. surged 37 percent to $20.96.
Netflix is going to the movies. The video streaming site announced its first original movie “Crouching Tiger, Hidden Dragon: The Green Legend,” which is set to premier in August of 2015. The film will be released simultaneously on Netflix and in some IMAX theaters, shaking up the traditional movie-going experience. Shares rose a fraction to
European Union regulators revealed details in a letter today of why they believe tax deals granted to Apple in Ireland were illegal. Authorities claim Ireland avoided international tax rules by letting Apple shelter profits worth tens of billions of dollars from revenue collectors, in return for maintaining jobs. Apple says it has received no selective treatment, Despite that, shares of Apple were up slightly to $100.75.
Microsoft lifted the veil on the next version of Windows. The follow on to the current Windows 8 operating system will be known as Windows 10, the tech company skipped number 9 in naming the new software. The next version of the flagship product, which still runs most personal computers, is aimed at recapturing the lucrative business market. Shares were off slightly to $46.36.
Walgreen posted a loss of nearly $420 million in its fourth quarter after a huge accounting charge from its recent acquisition of the Swiss beauty company Alliance Boots. It also warned that profits will continue to struggle because of lower drug reimbursement rates and higher costs for generic drugs. The stock lost 33 cents closing at $59.27.