Apple Gears Up for WWDC: Tech Weekly
The board of the Nasdaq OMX Group has approved a "voluntary accommodations fund" of approximately $40 million. The Securities and Exchange Commission still has to review the proposal, but approximately $13.7 million would be paid in cash to member firms. Original estimates put the payout as high as $100 million, or perhaps greater.
The rest of the money would go toward crediting members to reduce trading costs. The payments are expected to be delivered within six months for the vast majority of firms, the exchange operator said.
Shares of Facebook fell sharply during the week, closing down 2.24% to wind up at $27.10. Nasdaq shares edged higher, closing the week up 3.46% at $22.12.
Buddy Media, which counts Ford(F) , HP(HPQ) and L'Oreal among its customers, helps firms exploit their social media marketing with a technology platform that measures the effectiveness of their efforts and lets them test new initiatives.
The Buddy Media deal adds a key string to the Salesforce.com social media bow, according to CEO Marc Benioff.
"Salesforce.com now has the number one players in social listening and marketing - Radian6 and Buddy Media," he explained, in a statement. "With CMOs surpassing CIOs in spend on technology within the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity."
Salesforce will pay approximately $687 million in cash and Salesforce.com equity for Buddy Media. The acquisition is expected to close during the company's fiscal third quarter.
Shares of Salesforce ended the week up 4.2% at $136.49.