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Trending – US jobs data and Facebook

US jobs data dominated the latter part of the trading day, as investors scurried to make sense of a mixed report and mulled what it may mean for Fed thinking.
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Facebook's Mark Zuckerberg...

US jobs data dominated the latter part of the trading day, as investors scurried to make sense of a mixed report and mulled what it may mean for Fed thinking.

Many in the UK could have been left wondering what Facebook (NASDAQ:FB.) was thinking in terms of tax, when it recently emerged that it paid only £4,327 in corporation tax in the UK in 2014, despite the country being one of its biggest markets outside the USA.

But now it looks like the company will dig deeper into its pockets  after an overhaul of its tax structure.

Facebook revealed it would stop booking sales to major UK clients via an Irish subsidiary and report sales agreed by UK staff in Britain.

Big cos and UK taxes have been topical in recent weeks

Google, now part Alphabet, in January agreed to pay £130 million in UK back taxes but the figure was roundly slated in some quarters as being too little too late, with Labour's shadow finance minister calling it derisory.

Facebook shares lost 1.09% to US$108.39.

SHARE RISERS

Intuit (NASDAQ:INTU), up 1.5& to US$99.18 as it sells its Quicken business to private-equity firm HIG Capitat.

Seadrill (NYSE:SDRL) , up over 121% to US$5.98 because of  increased speculation company is about to receive a cash infusion from its chairman.

Hewlett Packard (NYSE:HPQ) up .63% to US$11.18 after it posted better-than-expected results in its first quarter since its spinoff from parent company.

 

FALLERS

Vitae Pharma (NASDAQ:VTAE), down over 52% to US$4.68 after as downgrade from broker Stifel.

Blue Earth (NASDAQ: BBLU) down 42% to US $0.05 as it was given a notice of default by Jackson Investment Group, a senior lender of the company.

Symantec Corp (NASDAQ:SYMC), down around 19% to US$16.61 as it said it closed the previously announced transaction with Silver Lake, pursuant to which Silver Lake made a $500 million strategic investment in Symantec.

 

 


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