eBay & Sotheby’s
If you’re in the market to buy fine art, placing a bid will soon be a click away. eBay and Sotheby’s are teaming up to build an online platform to make it easier to buy collectibles online. The auction house and the online marketplace plan to broadcast live auctions from Sotheby’s New York headquarters that will allow real-time bidding from anywhere in the world. The terms of the deal weren’t disclosed. Shares of eBay fell slightly to $51.16. Sotheby’s was up one percent to $40.09.
Shares of Riverbed Technology tumbled after the network equipment maker cut its second quarter revenue forecast. It blamed lower sales in North America because of a delay in closing some of its large deals. Following the announcement hedge fund Elliot Management reaffirmed its bid to buy the company. The stock dropped 8.5 percent to $18.60.
Home Depot will start selling Stratasys’ 3D printers at its stores beginning today. The home improvement retailer will have the products in 12 of its locations in California, Illinois and New York. Customers can use the printers to create parts like cup holders, making 3D printing a little more mainstream. Shares of Stratasys edged up slightly to $104.62.
Domestic steel producers like U.S. Steel could face renewed price competition from China. The World Trade Organization ruled that U.S. tariffs violated global trade rules and improperly imposed duties on Chinese steel products. It also said the U.S. must change its taxes on certain Indian steel products. That sent shares of U.S. Steel down more than five percent to $26.16.
Manchester United and Adidas have agreed to a record-breaking $1.3 billion uniform deal. The 10-year contract will begin in 2015 when Nike’s deal with the soccer team expires. For the hefty fee Adidas will get free advertising on one of the world’s most popular soccer uniforms and it will be the exclusive distributor of the team’s merchandise. Shares of Manchester United popped nearly five percent to $18.64.
Shares of Exelixis soared on word its experimental skin cancer treatment that it’s developing with Roche is showing positive trail results. The company says the drug helped people with an advanced form of skin cancer live longer without the disease worsening when combined with another treatment. The stock surged nearly 23 percent to $4.09.