Google rises on acquisition of Nest Labs «
SAN FRANCISCO (MarketWatch) — Shares of Google Inc. rose in the extended session Monday after the search giant said it was buying home automation company Nest Labs Inc. for $3.2 billion.
Google /quotes/zigman/93888/delayed/quotes/nls/goog GOOG +0.62% shares rose 0.5% to $1,129 in light volume following the announcement. Nest was co-founded by former Apple Inc. /quotes/zigman/68270/delayed/quotes/nls/aapl AAPL +0.11% engineers Tony Fadell and Matt Rogers in 2010. Starting with a smart thermostat for home use, the company has since branched out into smoke and carbon monoxide detectors. At Apple, Fadell led the team that designed the first 18 generations of the iPod and the first three generations of the iPhone.
The move is seen by analysts as a deeper push into the emerging “Internet of Everything” market.
Click to Play GM, CEO-elect Mary Barra ascendant in DetroitGeneral Motors has stolen the spotlight at the Detroit Motor Show, with a sweep of the North American car and truck of the year awards and the unveiling of the 2015 GMC Canyon. WSJ’s Jeff Bennett says the show has been an auspicious beginning for GM CEO-Elect Mary Barra.
Time Warner Cable Inc. /quotes/zigman/528868/delayed/quotes/nls/twc TWC +1.96% shares rose 1.4% to $134.30 on moderate volume following a report that Charter Communications Inc. /quotes/zigman/121019/delayed/quotes/nls/chtr CHTR +2.00% has offered $132.50 a share for the cable provider. For their part, shares of Charter rose 1.2% to $136 on light volume.
Shares of Wolverine Worldwide Inc. /quotes/zigman/246776/delayed/quotes/nls/www WWW -2.44% fell 2.4% to $32.02 on light volume after the outdoor apparel maker forecast revenue below Wall Street expectations.
Wolverine said it expects fiscal year 2013 earnings at the high end of its guidance range of $1.37 to $1.42 per share on revenue of about $2.69 billion. Analysts surveyed by FactSet expect earnings of $1.42 a share on revenue of $2.72 billion.
Shares of Yum Brands Inc. /quotes/zigman/303422/delayed/quotes/nls/yum YUM -0.83% fell 1.3% to $72.49 on moderate volume after the operator of Pizza Hut, KFC, and Taco Bell reported December same-store sales rose 2% in China, with a 5% increase at KFC and a 3% decline at Pizza Hut. China same-store sales for the fourth quarter were down 4%.
Nautilus Inc. /quotes/zigman/305721/delayed/quotes/nls/nls NLS +9.43% shares rallied 10% to $9.10 in moderate trading after the fitness equipment maker’s forecast for the fourth-quarter and year exceeded Wall Street estimates.