Barnes & Noble in Strategic Partnership With Microsoft: Hot Trends
Microsoft will make a $300 million investment in a new Barnes & Noble subsidiary. The new company will focus on developing a Nook e-reader application for Windows 8. Microsoft will obtain about 17.6% of the new company through its investment, while Barnes & Noble will own the remaining roughly 82.4%. The company has not yet been named.
The companies said they have settled their patent litigation.
Hologic said the acquisition is an effort to expand its diagnostic business, specifically its tests for sexually transmitted diseases.
Gen-Probe shareholders will receive $82.75 a share under the deal. Hologic expects annual cost synergies of about $75 million within three years of the deal's closing. It expects cost synergies of about $40 million in the first year. The transaction will add about 20 cents a share to Hologic's earnings during the first fiscal year after the deal's close.
The transaction is expected to be completed in the second half of this year.
Nokia(NOK) is another popular search. The cellphone maker is reportedly in talks to sell off its luxury subsidiary Vertu.
Vertu makes some of the world's most expensive mobile phones, many of which feature real crystal, gemstones and other precious metals.
In December, Nokia indicated it would possibly sell Vertu. Now, reports that private-equity group Permira are at an advanced stage of a possible purchase of Vertu are surfacing. Reports say that sale would potentially raise about €200 million ($265 million).
Vertu, based in the U.K., was started by Nokia in 1998 in an effort to appeal to wealthy consumers looking for status symbol mobile phones.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move.
-- Written by Brittany Umar.