King Digital Has an Underwhelming Debut in Market and Microsoft Announces Office Suite for the iPad
King Digital Entertainment Plc (NYSE: KING) went public and became the worst IPO so far in 2014. The company, who is the famous maker of the Candy Crush game, took a massive hit on their first day of trading. The “Candy Crush Saga” maker’s shares slid even more on Thursday, falling almost 4%, one day after the stock’s 16% decline on its opening day. The stock is down 18% from its $22.50 IPO price.
King Digital Entertainment plc, an interactive entertainment company, develops and publishes casual games on digital platforms. The company offers its games in a tournament format through its royalgames.com Website, as well as on mobile and social platforms, such as the Apple App Store, the Google Play Store, Facebook, the Amazon Appstore, and KakaoTalk. It has operations primarily in North America.
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Microsoft Corporation (NASDAQ: MSFT) held a press event on Thursday where the new Chief Executive Satya Nadella announced the long rumored Office suite for the iPad and revealed his vision for the company. The office suite can be downloaded on the iPad and used to read and present Office documents. Only people with an Office 365 subscription can create and edit documents however. The iPad version works differently than the iPhone, as with the iPad, the suite is split into separate apps for Word, PowerPoint, and Excel, while on the iPhone the entire suite is in one app. iPhone users don’t need an Office 365 subscription to edit and create docs.
Microsoft Corporation develops, licenses, and supports software, services, and hardware devices. Its Windows division offers Windows operating system; Windows Services suite of applications and Web services, including Outlook.com and SkyDrive; Surface RT and Pro devices; and PC accessories.
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