Top Stories of Week 7-5 to 7-11: Micron Technology, Inc. (MU) Continues To Trade Down, Positive Progress for Tesla Motors Inc (TSLA)
After two weeks of deadlock, there was some respite for investors as Greece sent a new proposal for bailout which would require creditors to make an effort to re-structure long term debt in exchange for reforms. The S&P 500 closed the week with gains of 1.2 percent.
Micron Technology, Inc. (NASDAQ:MU) continued its downward journey amid skepticism. However, things don’t look that bad for the semiconductor company. The company is working on deploying advanced process technology in order to gain competitive advantage compared to its peers.
Fitbit Inc (NYSE:FIT)’s fitness tracker continues to gain positive traction. The market for fitness bands is in early stages and the growth is expected to accelerate. RBC Capital Market’s analyst Mark Sue expects fluid wearable’s technology market to double to $50 billion in long run.
Tesla Motors Inc (NASDAQ:TSLA) did well to beat sales expectations in the second quarter. However, the future of the company would depend a lot on launch of Model X and sales in China. Also, how the company handles the retirement of CFO Deepak Ahuja.
A lot has changed for Google Inc (NASDAQ:GOOGL)’s YouTube since 2012 to till now. The watch time on the site has increased to 500 million hours from 300 hours.
There were rumors of BlackBerry Ltd (TSE:BB)(NASDAQ:BBRY)’s Venice running on Google Inc (NASDAQ:GOOGL)’s Android OS. However, the rumor not yet confirmed by the company. Hence, the news has to be taken with a grain of salt.
Nokia Corporation (ADR) (NYSE:NOK) after selling its device and service segment to Microsoft Corporation (NASDAQ:MSFT) has come a long way. The company’s recent tie up with Alcatel Lucent SA (ADR) (NYSE:ALU) for acquisition got a big push after the deal got clearance from Department of Justice (DOJ).
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