Yahoo Finance Rude awakening for DreamWorks; Deal chatter drives Syngenta higher
Time for your daily dose of trending tickers, the stocks you're following based on your Yahoo Finance ticker searches.
Syngenta
On Wall Street speculation is enough to move a stock. And on Friday speculation drove Syngenta (SYT) 13 percent higher. According to a Bloomberg report, Monsanto (MON), the world’s largest seed company has approached rival Syngenta with an offer to buy the company. If the deal goes through, Monsanto would become the largest player in the space. The reports also says the companies talked about a merger last year but ultimately Syngenta stepped away from the table.
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DreamWorks Animation
Elsewhere in the market a long position in DreamWorks Animation (DWA) seemed like a bad dream for anyone holding the stock. Shares tumbled over 6 percent after the company reported a bigger than expected loss. CEO Jeffrey Katzenberg cited continuing fallout from “The Penguins of Madagascar,” as one of many factors behind the weakness. To cut costs, the company plans to eliminate about 500 jobs, or about one-fifth of its workforce.
Finally, shares of LinkedIn (LNKD), the popular job networking site, tumbled almost 20% on Friday despite earnings that topped estimates. The selling was triggered by the company's forecast, which LinkedIn slashed due to slower revenue growth. Also, the company’s loss increased. On the news, investors ran for the exits, as is often the case when the rate of growth is called into question for a growth stock.
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