June 4, 2014 – Shares of Groupon (NASDAQ:GRPN) fell down to knees almost 6.46% ($0.38) to end at $5.50 on Jun 2, 2014 after the restoration of an Illinois sales tax law. In the start, Illinois had implemented a tax on out-of-state Internet retailers, which was originally aimed at Amazon (AMZN).That is why it is normally referred to as the “Amazon tax.”
Shares of Skyworks Solutions Inc. (NASDAQ:SWKS) were higher 4.96% to $45.21 following the firm, an creator of high performance analog semiconductors, boosted its financial guidance for the third quarter of fiscal 2014. The firm now predicts present quarter revenue of $570 million, a 31% percent year-over-year hike and 19% sequential growth.
Following the Connecticut telecom regulator launched AT&T’s (NYSE:T) 2013 financial statements, BMO Capital reported that the revenue and EBITDA of AT&T’s wireline assets in the state, which are being purchased by Frontier, overtook the firm’s predictions. The company now thinks that Frontier’s revenue and EBITDA outlook for the assets is radically conservative. It keeps a $6 price target and Outperform rating on Frontier.
MediaMath, the maker of the TerminalOne Marketing Operating System™ for digital marketers, on Tuesday declared a $73.5 million Series C financing round, led by Boston-based growth equity firm Spring Lake Equity Partners, previously the private equity arm of Tudor Investment Corporation. On top to the Series C financing, MediaMath hiked its debt facility to $105 million, for a total funding of more than $175 million. The Series C financing also involve participation from new investor, Akamai Technologies, Inc. (NASDAQ:AKAM), and existing investors Safeguard Scientifics (SFE), Catalyst Investors, and Observatory Capital. The firm debt facility was led and syndicated through Silicon Valley Bank.
Marvell (NASDAQ:MRVL) on Tuesday declared adding two new smart digital LED driver included circuits (ICs) – 88EM8189 and 88EM8803 – further growing its end-to-end smart lighting platform into LED lamps and fixtures.