Qualcomm Sells Omnitracs to Vista Equity Partners and 2 More Heavily Traded Stocks to Follow
Qualcomm Inc. (NASDAQ:QCOM): Current price $67.07
Qualcomm said Monday that it will sell its subsidiary Omnitracs Inc. to the private equity firm Vista Equity Partners, which will pay $800 million in cash for the purchase. The transaction should close by the fourth quarter, which is the first quarter of Qualcomm’s fiscal 2014, subject to usual regulatory approval. Omnitracs makes chips and accessories to supply data and other systems for the transportation and logistics business.
Yahoo Inc. (NASDAQ:YHOO): Current price $27.76
The operator of Japan’s most-visited Web portal, Yahoo! Japan Corp., is placing that country’s smartphone advertising and online shopping firms on alert as it searches out growth at home. During the past five years, its sales growth was one-third of the average among peers, according to data compiled by Bloomberg, while the company failed to extend its dominance to smartphone services.
Marvell Technology Group Ltd. (NASDAQ:MRVL): Current price $12.03
A federal judge on Firday turned aside Marvell Technology Group’s request to declare a mistrial in a patent infringement case in which a jury awarded $1.17 billion in damages to Carnegie Mellon University. Carnegie Mellon brought a suit against Marvell in March 2009 regarding patents issued in 2001 and 2002 linked with how accurately hard disk-drive circuits read data from high-speed magnetic disks.