Was photo-sharing app maker Instagram really worth $1 billion? For Facebook, it may very well be from a strategic standpoint. Plus: What Netflix, Google, Amazon, and AT&T are working on.
Prominent hedge fund manager and value investor Whitney Tilson said that Nokia, Research in Motion, and First Solar are all companies to short despite low prices.
Norway-based oil exploration and development firm Det norske oljeselskap has agreed to acquire Marathon Oil Norge for NOK12.6bn ($2.1bn) and Total is set to sell its 15% participating interest in the Angola offshore block 15/06 for $750m to Sonangol.