3 Tech Stock Stories Ready for a Monday Download
Yelp Inc. (NYSE:YELP): Closing price $50.75
The online reviews site Yelp on Monday reported that it will start displaying 90-day notices on pages for businesses that it suspects might be supplying false or misleading content in a gambit to entice more positive reviews. Yelp said it will begin posting this new type of alert in regards to suspicious activity as part of its “Consumer Alerts” program launched in October. Yelp will also check to see if multiple reviews have been posted from the same computer, which would be an indication that those reviews might not have originated with a real customer. Yelp wrote on its blog Monday that “A Consumer Alert message with hyperlinked evidence will be posted on these businesses’ Yelp listings for 90 days.”
Telecom Italia (NYSE:TI): Closing price $6.81
The European Commission advised Italy’s telecommunications regulator to suspend an order that Telecom Italia SpA reduce the fees it insists upon from rivals for using its fixed-line network, Bloomberg reports. The commission has frozen the order for up to three months while it reviews whether Agcom, as the watchdog is known, followed correct procedures when it failed to prepare a separate market analysis on the potential impact of its July 11 verdict, according to a Monday statement.
Tessera Technologies Inc. (NASDAQ:TSRA): Closing price $19.24
Tessera announced Monday that FLIR Systems Inc. has purchased a significant amount of assets of the former’s Micro-Optics business based in Charlotte, North Carolina. Total consideration paid by FLIR came to roughly $15 million. Interim Tessera Technologies CEO Thomas Lacey said in a release: “This transaction is one of the substantive structural changes we announced we would make in the second half of 2013 as we continue to refine our focus on our differentiated MEMS-related technologies. I would like to thank the Micro-Optics employees for their contributions and efforts and believe this transaction is the right step forward for the future of that business.”
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