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Articles tagged with: Stocks

eBay Acquires E-commerce Startup, Magento

eBay announced on Monday that it has agreed to overtake Magento (an open source ecommerce platform), an LA-based company with nearly 300 employees. eBay before only had a minority stake in the company, but has since then decided to go big or go home. Neither company stated how much the deal will go for, but it is expected to close in the third quarter of this year upon approval.

Magento offers tens of thousands of merchants control over the user experience, catalog, content, and functionality of their online store. The company’s “Go” platform offers a software-as-a-service (SaaS), offering both small and growing merchants the online tools they need, from payments to inventory management.

Apple Stock Gets Downgraded – Shares Drop

JMP Securities has downgraded Apple this morning from “market outperform to market perform.”

The reason for the downgrade that JMP states is, “A notable deceleration in its primary manufacturing partner Hon Hai.” With the deceleration of Hon Hai’s sales growth, they believe Apple’s business could follow. Hon Hai is the parent company of Foxconn, Apple’s manufacturer. JMP also believes the iPhone sales could just be in line with expectations this year, as well as seeing iPad sales replacing Mac sales.

With Apple’s track record…

Hackers Break Into NASDAQ’s Computers

The Wall Street Journal has reported that the computers for the Nasdaq Stock Market exchange were compromised during the past year. Essentially the computers for the Nasdaq OMX Group were targeted and hacked but the trading platform was unaffected. However, it was unclear which other parts of Nasdaq’s computer network was accessed.

Federal investigators speculate on a number of potential motives around it, but intentions are likely for unlawful financial gain and theft of trade secrets designed to damage the exchange.

According to the report, the investigation is being conducted by the Federal Bureau of Investigation (FBI) and the U.S. Secret Service. The attacks is worrying investigators, who are unsure whether all potential holes have been closed, considering the attackers are seeking new ways to breach the systems.