Microsoft $26.2B deal to buy LinkedIn; Twitter posting gains; Airline stocks falling after Orlando attack
Midday stock movers: today's big winners and losers
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LinkedIn (LNKD) – Microsoft (MSFT) is buying LinkedIn for $26.2 billion in cash. The deal, which has already been approved by both boards, still needs to get regulatory approval.
Twitter (TWTR) – Shares are moving higher after news broke that Microsoft is buying LinkedIn, as the agreement is a sign that dealmaking in Silicon Valley is picking up again. Since Twitter is seen as a possible acquisition target, this could be good news for the company.
American Airlines (AAL) - The stock is falling following the attack in Orlando, due to concern that people will become less likely to travel. American Airlines is not the only stock under pressure in the sector. Hawaiian Airlines (HA), Southwest Airlines (LUV) and Delta Air Lines (DAL) are all trading in the red.
Blackberry (BBRY) – President Obama is ditching his BlackBerry. He told Tonight Show host Jimmy Fallon that with less than a year left in his term, he was given a new smartphone.
Facebook (FB) – Short seller Andrew Left from Citron Research is making a call on Facebook. In a phone interview with CNBC, Left said the social media giant is losing an “extensive amount of relevancy” and that he is short the stock.