ASML Holding N.V. (ADR) (NASDAQ:ASML) slipped 3.46% to $56.01. Samsung Electronics Co Ltd has agreed to acquire a 3% stake in the Company for €500 million. The cash will be used to develop new lithography machines to make more powerful, cost-effective and energy-efficient chips.
Pioneer Southwest Energy Partners L.P. (NYSE:PSE) plunged 2.31% to $25.81. UBS lowered the rating on the stock from neutral to sell and the price target unchanged at $24. The Company deals in the production of oil and gas in the United States.
Facebook Inc (NASDAQ:FB) went up 0.42% to $19.23. According to report from Reuters, U.S. Federal Trade Commission cleared the acquisition of Instagram. Facebook intends to buy Instagram in a cash and stock deal for $1 billion in April. Under the terms of the agreement, Facebook will acquire Instagram for $300 million in cash and around 23 million shares of Facebook common stock.
Qihoo 360 Technology Co Ltd (NYSE:QIHU) slipped 7.01% to $21.35 after the Company reported second quarter results. Revenues were $72.8 million compared to $35.1 million in the second quarter of 2011. Cost of revenues was $6.6 million against $3.7 million in the second quarter of 2011. Operating income was $9.9 million compared to $12.8 million in the second quarter of 2011. Operating margin was 13.6% compared to 36.3% in the second quarter of 2011. Net income was $7.0 million compared to $11.1 million in the second quarter of 2011. Diluted Earnings per ADS Diluted EPADS for the second quarter of 2012 were $0.06. The Company expects revenues to be between $81 million and $82 million for the third quarter.
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AK Steel Holding Corporation (NYSE:AKS) decreased 7.35% to $5.24 on a traded volume of 4.93 million shares. UBS Securities lowered the rating on the stock to sell from neutral. The firm said that the rating is lowered due to pricing pressure.