Market Minute: Microsoft, Google Head to Court; Amgen Snaps Up Onyx

Microsoft and Google battle in court, and Amgen makes a major acquisition. Those stocks and more are what's in business news Monday.

The Dow Jones industrial average (^DJI) edged lower last week, its third straight weekly loss. The Standard & Poor's 500 index (^GPSC) rose half a percent, and the Nasdaq composite index (^IXIC) gained 1.5 percent

US software giant Microsoft CEO Steve Ballmer speaks to the press in Tokyo on May 23, 2013. Micrsoft announced plans to expand enterprise cloud service Windows Azure in Japan and set new data centers in Tokyo and Osaka.    AFP PHOTO / Yoshikazu TSUNO        (Photo credit should read YOSHIKAZU TSUNO/AFP/Getty Images)
Yoshikazu Tsuno, AFP/Getty ImagesMicrosoft CEO Steve Ballmer
Shares of Microsoft (MSFT) surged 7 percent Friday after Chief Executive Officer Steve Ballmer announced his plan to resign, and the stock will be back in the spotlight today. The company starts the second of two landmark trials with a unit of Google (GOOG) over patent rights for certain smartphone and Internet technologies. Microsoft was considered the winner in a split decision in the earlier case.

Onyx Pharmaceuticals (ONXX), after rejecting several takeover attempts from Amgen (AMGN), has accepted a sweetened bid from the biotech giant. The Amgen bid is valued at $10.4 billion, or $125 a share. That's up about $5 a share from the original offer. Onyx is being sought for its pipeline of drugs to treat cancer. This is one of the biggest deals ever for a biotech firm.

Separately, European drug giant AstraZeneca (AZN) agreed to pay up to $500 million to buy a privately held U.S. based biotech firm, Amplimmune.

Anadarko Petroleum (APC) is selling part of its stake in an oil and gas property off the shores of Mozambique. That deal is valued at $2.6 billion. Anadarko will retain a stake of 26 percent in the project.

Facebook, Google and IBM are working on developing their own hardware in order to avoid paying others. The Wall Street Journal reports those companies could replace chips and switches made by the likes of Intel, Advanced Micro Devices (AMD) and Cisco Systems (CSCO).

The Financial Times reports that Goldman Sachs (GS) has placed four senior technology specialists on leave. This follows last week's trading mishap that's expected to cost the company tens of millions of dollars.

-Produced by Drew Trachtenberg.

Apps That Manage Your Money For You
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Market Minute: Microsoft, Google Head to Court; Amgen Snaps Up Onyx

Mint made the Mac App Store's Best of 2012 list for a reason. This simple, clean app shows how much you are spending in each category of your budget by monitoring all of your transactions. We love signing in and getting a quick, dirty rundown of where our money has gone over the last week, and using their personalized budget tools to stay on track. We highly recommend adjusting your budgets for summer months. You might spend less on transportation when the weather is nice, and chances are you could use that extra cash to flesh out that restaurant tab, right?

Price: Free

Available for Apple and Android.

This is the all-in-one financial organizer. Manage all of your accounts, from credit cards to magazine subscriptions, in one place and even make custom accounts for your rent or cleaning service. Get reminders for bill payments, and monitor all of your travel reward points, too. You'll always know what you owe, how much money you have and can plan for upcoming bills and expenses without having to sift through tons of paperwork.

Price: Free

Available for Apple and Android devices.

If you want to isolate the expense tracker function of Mint in a super simple day-to-day app, then DailyCost is a great buy. A wide variety of categories lets users input all of their daily expenses. Holding your phone horizontally, you will be able to see graphs and statistics on your spending. The app also tracks your weekly and monthly spending by category and can be backed up to iCloud for Mac users, so you'll never lose your data.

Price: $1.99

Available for Apple only.

If you're a heavy traveler, Toshl is an excellent expense and budget tracker. It works with any currency and lets you separate your travel budget from your day-to-day expenses. It comes with all the trappings of a regular money management app, too, such as bill organizer and alerts, and can be synced across all your devices.

Price: Free

Available on Apple and Android devices.

Next time you organize a group activity, Tricount will split up the expenses for you. Create the expense report on your phone and organize by person, how much they owe, and then share via email so everyone knows their share. With options for expenses, balance, share, and configuration, the app does all of the math for you.

Price: Free

Available for Apple and Android devices.

Never miss a bill payment again. This app reminds you when your payments are due, and lets you pay on the spot from a bank account or credit card, or you can schedule a payment for the future. Connect all of your accounts to the encrypted app and then view them all in one place for easy access and payment options. You'll never overdraft or miss a payment again.

Price: Free

Available on Apple and Android devices.

Make and share payments with friends. This app uses the same technology to pay as LivingSocial, Uber and Airbnb. Pay with your debit card or transfer funds from a linked bank account, right to a friend's Venmo account. It is Verisign Certified.

Price: Free

Available on Apple and Android devices.

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  • DJI25914.1065.230.25%
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    Hang Seng29409.01396.751.37%
  • USD (PER EUR)1.130.00130.11%
    USD (PER CHF)1.000.00100.10%
    JPY (PER USD)111.420.00000.00%
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