News About Banking Industry

Alibaba to acquire Youku Tudou

Chinese e-commerce site Alibaba closed a deal Friday to acquire entertainment company Youku Tudou. Meanwhile, shares of chip maker Nvidia are surging in early trading.

Alibaba. The all-cash deal to acquire Youku Tudou has Alibaba paying $27.60 per American Depository Share (ADS), about 35% higher than the entertainment site’s closing share price. The deal will close during the first quarter of 2016.

Nvidia. Shares of the chip maker surged 12% in morning trading after reporting a 42% spike in earnings during the third quarter. Revenue also jumped 7% to $1.305 billion.

BlackBerry. Could Google help revive the ailing smartphone maker? The company launched its Priv smartphone, which ditches the BlackBerry 10 operating system for Android. The device is available through AT&T or T-Mobile wireless networks.

Activision. Fresh off its announcement it will acquire Candy Crush Saga maker King Digital, the video game publisher launches its biggest title Friday: Call of Duty: Black Ops III. Earlier this week, Activision revealed it will scoop up King for $5.9 billion.

Twitter. CEO Jack Dorsey’s other company, Square, revealed in an amended SEC filing it will price its initial public offering between $11 and $13 a share. It will trade under the New York Stock Exchange ticker symbol “SQ.”