VTech Holdings Limited Inks Deal to Buy LeapFrog for $72M

LeapFrog

The shares of LeapFrog Enterprises (NYSE:LF), a developer of educational entertainment for children, increased more than 71%  after the company agreed to sell itself to VTech Holdings Limited, a global leader in electronic learning products and cordless telephones. The stock price of VTech Holdings declined 1.4% to HKD$ 81 per share on Friday. Merger agreement between VTech and LeapFrog Under the merger agreement, VTech Holdings agreed to acquire the Class A and Class B shares of LeapFrog for $1.00 each or approximately $72 million. The acquisition price represents a 75.4%…

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Symantec Boosts Capital Return Program to $5.5B; Shares Soar

Symantec

Symantec Corporation (NASDAQ:SYMC) boosted its capital return program to $5.5 billion after the cybersecurity company obtained a $500 million strategic investment from Silver Lake, a global private equity firm focused on technology investing. The stock price of Symantec increased 8.81% to $20.87 per share during the extended trading on Thursday. The cybersecurity company expected to complete its capital return program by the end of March 2017 through shares buyback and dividend payment. Symantec already completed an accelerated stock buyback worth $500 million in January this year. Symantec said it will…

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Martin Shkreli Invokes Fifth Amendment Right at Hearing on Drug Pricing

Shkreli

Martin Shkreli, the former CEO of Turing Pharmaceuticals invoked his Fifth Amendment right to avoid self-incrimination at the Congressional hearing on drug pricing on Thursday. Last month, the U.S. House Committee on Oversight and Government Reform subpoenaed Shkreli to answer questions in connection with the decision of Turing Pharmaceuticals to suddenly increase the price of Daraprim by 5,000% from $13.50 to $750 a pill last year, when he was still the CEO of the company. Daraprim is an antibiotic used to treat a deadly parasitic infection called toxoplasmosis, which is…

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Cisco Systems to Buy Jasper Technologies for $1.4B

Cisco Systems

Cisco Systems (NASDAQ:CSCO), the largest network equipment manufacturer announced its decision to acquire Jasper Technologies for $1.4 billion to boost its initiatives in the growing connected devices market. According to Cisco, it would pay Jasper Technologies with cash and assumed equity awards, and additional incentives. Jasper Technologies is a privately-held company engaged in providing cloud-based platform for connected devices or Internet of Things (IoT) to help enterprises and service providers launch and monetize their IoT services globally. The network equipment manufacturer described Jasper Technologies as a leading IoT service platform…

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Yahoo Pursues Strategic Plan to Drive Growth

Yahoo

Yahoo! Inc (NASDAQ:YHOO) is pursuing an aggressive strategic plan including job cuts, office closures, and a reverse spinoff of its stake in Alibaba Group Holding to drive growth. The company’s strategic plan aims to reduce operating expenses by more than $400 million and generate more than $1 billion cash from divesting its non-strategic assets this year. Yahoo also wants to boost its Mavens businesses (mobile, video, native and social) revenue to more than $1.8 billion, increase its advertiser & consumer product quality and grow its daily active users (DAUs). Yahoo…

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Alphabet Surpasses Apple as World’s Most Valuable Company

Alphabet

Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG) is set to surpass Apple (NASDAQ:AAPL) as the world’s most valuable company after its shares surged during the extended trading on Tuesday after reporting is financial results for the fourth quarter of 2015 Alphabet’s Class A shares (GOOGL) climbed more than 4% to $803.03 each while its Class C shares (GOOG) increased more than 5% to $791 a piece after-hours.  Over the past year, the conglomerate gained more than 40% in stock value. The increase in Alphabet’s stock prices brings its market value to around $568 billion,…

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Iglesia Ni Cristo Calls for Multi-Sectoral, Cross-Religious Effort to Fight Poverty

Iglesia Ni Cristo

The Iglesia Ni Cristo (Church of Christ), a global, independent, Christian religious organization declared poverty as “public enemy number one.” The Church is now calling for a multi-sectoral and cross-religious effort to fight poverty. Under the leadership of its Executive Minister Eduardo V. Manalo, the Church expanded its anti-poverty and socio-civic projects for poor Filipinos through the Lingap sa Mamamayan Program (Aid to Humanity) under the Felix Y. Manalo Foundation. Iglesia Ni Cristo said we must fight poverty relentlessly Glicerio B. Santos, Jr., a minister of the gospel and general…

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Facebook Restricts Private Gun Sales on its Platforms

Facebook

Facebook Inc (NASDAQ:FB) is restricting private gun sales on its social network platform and its photo-sharing service, Instagram. According to the social network giant, the ban does not apply to license gun dealers, gun clubs or retailers advertising on its platforms. The social network giant’s action came amid concerns that unlicensed gun dealers are increasingly using Facebook and Instagram to coordinate private, person-to-person sales of guns to circumvent the law requiring background checks on buyers. The U.S. government and other organizations advocating for stricter gun control increased pressure on social…

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Iglesia Ni Cristo Members Unite Against ABS-CBN Due To Bias Reporting

Iglesia Ni Cristo

Is ABS-CBN bias in reporting? The Iglesia Ni Cristo members say yes and they launched a campaign to stop it. The members of the Iglesia Ni Cristo (Church of Christ), a global independent religious organization originated in the Philippines stand against irresponsible journalism by some local media entities—ABS-CBN, Philippine Daily Inquirer (PDI), and Rappler. Iglesia Ni Cristo members are encouraging their brethren in the Church to boycott ABS-CBN, PDI, and Rappler citing he reason that these media entities are biased in reporting about the issues surrounding the Church. Some disgruntled…

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