Facebook Inc (NASDAQ:FB) announced that it has reached a definitive agreement to acquire Oculus VR, Inc., the leader in immersive virtual reality technology, for a total of approximately $2 billion. This includes $400 million in cash and 23.1 million shares of Facebook common stock (valued at $1.6 billion based on the average closing price of the 20 trading days preceding March 21, 2014 of $69.35 per share). The agreement also provides for an additional $300 million earn-out in cash and stock based on the achievement of certain milestones. Facebook Inc (NASDAQ:FB) shares after opening at $64.74 moved to $64.95 on last trade day and at the end of the day closed at $60.38. Company price to sales ratio in past twelve months was calculated as -18.86%. Facebook Inc (NASDAQ:FB) showed a negative weekly performance of -11.50 %.
Twitter Inc (NYSE:TWTR) is moving to look more like Facebook in the photo sharing world. The social media company announced that it will now give users the option of photo tagging, one of two new photo features that are a part of its updated mobile app, launched on Wednesday. Twitter Inc (NYSE:TWTR) shares fell -7.21% in last trading session and ended the day on $44.43. Twitter Inc (NYSE:TWTR) return on equity ratio is recorded as -105.10% and its return on assets is -41.20%.
Baidu Inc (ADR) (NASDAQ:BIDU), the world’s leading Chinese search engine and developer of award-winning PC, Web and mobile products, announced that its PC security software Baidu Antivirus was named this year’s “most promising antivirus” in Softonic.com’s Big Antivirus Comparison. In addition to the award, Baidu Antivirus also claimed third place in system performance out of the many top PC security products evaluated in the comparison. Baidu Inc (ADR) (NASDAQ:BIDU) shares moved down -2.52% in last trading session and was closed at $152.12, while trading in range of $ 152.03 – 159.82. Baidu Inc (ADR) (NASDAQ:BIDU) year to date (YTD) performance is -14.48%.
Google Inc (NASDAQ:GOOG) Senior Vice President Sundar Pichai said the company hopes developers will build new apps for more devices than just smartwatches, including apps even for jackets with sensors. Google Inc (NASDAQ:GOOG) weekly performance is -5.61%. On last trading day company shares ended up $1,131.97. Google Inc (NASDAQ:GOOG) distance from 50-day simple moving average (SMA50) is -3.99%. Analysts mean target price for the company is $1329.36.