Facebook Inc(NASDAQ:FB) stock dropped -0.05% in today’s pre market session with the price of $113.89. Over the last one month and over the past three months, Facebook, Inc’s shares lost -5.26% and gained 3.69%, respectively. Furthermore, the stock has gained 8.88% since the start of this year. The company’s shares are trading -1.51% above their 50-day moving average. Additionally, Facebook, Inc has an RSI of 37.91 and beta of 0.74.
May 26, 2016 Microsoft and Facebook (FB) announced an agreement to build a new, state-of-the-art subsea cable across the Atlantic. The new “MAREA” cable will help meet the growing customer demand for high speed, reliable connections for cloud and online services for Microsoft, Facebook and their customers. The parties have cleared conditions to go Contract-In-Force (CIF) with their plans, and construction of the cable will commence in August 2016 with completion expected in October 2017.
Microsoft and Facebook are collaborating on this system to accelerate the development of the next-generation of Internet infrastructure and support the explosion of data consumption and rapid growth of their respective cloud and online services. MAREA will be the highest-capacity subsea cable to ever cross the Atlantic – eight fiber pairs and an initial estimated design capacity of 160Tbps. The new 6,600 km submarine cable system, to be operated and managed by Telxius, Telefónica’s new telecommunications infrastructure company, will also be the first to connect the United States to southern Europe, from the data hub of Northern Virginia to Bilbao, Spain and then to network hubs in Europe, Africa, the Middle East and Asia. This route is south of other transatlantic cable systems, thereby helping ensure more resilient and reliable connections for customers in the United States, Europe, and beyond.
Microsoft and Facebook designed MAREA to be interoperable with a variety of networking equipment. This new “open” design brings significant benefits for customers: lower costs and easier equipment upgrades which leads to faster growth in bandwidth rates since the system can evolve at the pace of optical technology innovation.
Cellcom Israel Ltd.(NYSE:CEL) stock on Friday’s pre market session gained 3.11% at price of $6.97. Over the last one month and the previous three months, Cellcom Israel shares lost -9.50% and gained 15.36%, respectively. Additionally, the stock has surged 9.03% since the beginning of 2016. The company’s shares are trading below their 50-day and 200-day moving averages by -12.01% and -2.27%, respectively.
June 13, 2016, Cellcom Israel Ltd. has taken note that the controlling shareholder of Hot Mobile Ltd. (“Hot”), another Israeli cellular operator, announced a non-exclusive long term agreement for the provision of hosting services to Golan Telecom on the network used by Hot, and financing arrangements to be provided by Hot and its controlling shareholders (the “Hot Agreement”), subject to the Israeli regulators’ approval and instructions. The Company has notified Golan Telecom and its shareholders that the Hot agreement constitutes material breaches of the Share Purchase Agreement (“SPA”) and National Roaming Agreement (“NRA”) between the Company and Golan Telecom, including a service exclusivity obligation and obligations not to materially change the business to be purchased. The Company further notified Golan Telecom and its shareholders that the breach of the SPA and the breach of the NRA (resulting with the transfer of any Golan’s customers traffic on Hot’s network), if not cured, would allow the Company to terminate the SPA and demand the immediate payment of the NIS 600 million + VAT National Roaming Gap (as defined in the SPA), demand the recovery of additional substantial discounts provided to Golan Telecom under the NRA and conditioned upon such exclusivity, which under preliminary calculations amount to approximately NIS 300 million, and demand compensation for future payments until the end of such exclusivity. The Company notified Golan Telecom and its shareholders that should Golan Telecom and its shareholders fail to remedy all such breaches within the time frame set in the agreement, the Company will take all actions available to it under the SPA, NRA and applicable law, against them.