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Investors look past Crimean secession vote, await Yellen remarks; Castlight shares skyrocket after IPO; Twitter CEO goes to China

Hot Stock Minute

Investors appear to be looking past a nearly-unanimous vote for Crimea to secede from Ukraine and join Russia. U.S. and European officials say the referendum is illegal and will not be recognized. The question now is what form of economic sanctions will be levied against Russia in response to the vote. While investors wait and watch for those developments, they're also awaiting this week's Federal Reserve meeting and Fed Chair Janet Yellen's first news conference as Chair.

British-based Vodafone Group, the world's second-largest wireless carrier, has agreed to buy Spanish cable company Ono for 7.2 billion euros - or about $10 billion - including debt. In addition to giving Vodafone about 1.9 million additional wireless customers, the deal will allow Vodafone to compete in Spain's high-speed broadband cable market. The agreement came ahead of a planned IPO for Ono which was expected to value the company at around seven billion euros. It's Vodafone's first big deal since selling its $130 billion stake in Verizon.

The first draft of a bipartisan bill was released giving details on how Fannie Mae and Freddie Mac would be replaced. The proposal, released on Sunday by the leaders of the Senate Banking Committee, details plans to wind down the two entities over five years. Fannie and Freddie would be replaced by a group of private entities along with a privately-held but federally-regulated utility. The overhaul could face resistance in the Senate and the House.

One of the stocks we’re watching today is Castlight Health (CSLT) after its stellar debut Friday. The cloud-based maker of software for healthcare companies soared 149% after its initial public offering Friday. The company priced shares at $16, above an already-raised expected price range of $13 to $15 a share. Castlight raised $178 million in the offering. In his piece for Yahoo Finance’s The Exchange, technology reporter Aaron Pressman called this IPO "the craziest deal since the heights of the Internet bubble."

Twitter’s CEO Dick Costolo arrives in Shanghai today for his first visit to China. Twitter and other social media sites have been mostly banned in China since 2009. Costolo has said he would love to be able to "run Twitter as Twitter" in China, but wouldn't sacrifice the principles of the platform in order to do so. Today’s poll question asks, should American social media companies expand into China even with censorship in place? Cast your vote and post your comments as well.

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