Media Stocks Market Chatter: DigitalGlobe Inc. (NYSE:DGI), Overstock.com, Inc. (NASDAQ:OSTK), Linkedin (NYSE:LKND)



Shares of DigitalGlobe Inc. (NYSE:DGI) are nearly 5% higher Tuesday after Raymond James analysts said the remote sensing company will announce a major contract with a non-government organization (NGO).

Details on the size of the deal or name of the NGO were not released. Executives of the digital-imaging company are currently presenting at the Raymond James 35th Annual Institutional Investor Conference. They will also appear tomorrow at the Morgan Stanley TMT Conference in San Francisco. DigitalGlobe Inc. (NYSE:DGI) is currently trading at $32.64, with a 52-week range of $26.37 to $43.13.

Overstock.com, Inc. (NASDAQ:OSTK) gains Tuesday after saying it sold more than $1 million in product to Bitcoin users since the online shopping site started accepting the virtual currency on January 9. Of the more than 4,300 Bitcoin customers who made purchases since then, Overstock.com (NASDAQ:OSTK) estimates almost 60% to be new customers.

Overstock.com (NASDAQ:OSTK) was the first major online shopping site to accept Bitcoin, a controversial payment method according to critics that cite instability. Tokyo-based major bitcoin exchange Mt. Gox filed for bankruptcy recently after a loss of nearly a half-billion dollars. That’s forcing U.S. regulators to confront the breadth of their authority and responsibility to oversee the fledgling virtual currency.

In fact, outspoken Overstock CEO Patrick Byrne said he admires Bitcoin because it does not answer to a central authority and is similar to gold in that its supply is constrained. Overstock.com (NASDAQ:OSTK) is partnering with San Francisco-based Coinbase.com to process the payments and handle the conversion of Bitcoin into U.S. dollars. OSTK traded as high as $21.05 earlier Tuesday. It moves in a 52-week range of $10.80 to $35.60.

Japanese companies, including Panasonic (PCRFY) and Rakuten (RKUNY), will use U.S-based professional networking site Linkedin (NYSE:LKND) for recruiting, according to the Nikkei, the Japanese news agency. LinkedIn (NYSE:LKND) has more than 270 million users worldwide and is widely used to search for job applicants by U.S. companies.

LinkedIn (NYSE:LKND) stock rose 1.1% to $203.59 on Tuesday. Panasonic plans to set up its own Linkedin page by the end of the year and use it for midcareer hiring in Asia, Latin America and Europe, according to the report. Last year, Panasonic’s overseas operations hired some 1,100 people, and they are expected to employ several hundred to a thousand this year.

Rakuten will use the site to connect with a broader array of talent, expanding from just engineers to encompass almost all positions, including marketing and planning jobs, according to Nikkei. LinkedIn (NYSE:LKND) stock has a 52-week trading range of $160.20 to $257.56.

 

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