3 Tech Stock Stories for a Savvy Friday Download
Apple Inc. (NASDAQ:AAPL): Closing price $424.95
Market chatter has it that Apple might want to buy 55- and 65-inch Ultra HD TV panels from LG Display, but the rumors also say that Apple is still evaluating the technology, and has so far not finalized its orders with LG. There is also speculation that Sony Corp. is in discussions with LG regarding the panels, together with AU Optronics, which is expected to make high-end Ultra HD TV panels by next year. The chatter also maintains that Apple may consider Sharp as another potential supplier.
Sina Corp. (NASDAQ:SINA): Closing price $65.10
The Beijing News is reporting that Sina Corp. is entering the banking business. The firm announced Friday that it has introduced a new platform named WeiBank, which will permit users access to web-based banking services, such as bank transfers, investment management, remittances, credit card repayment, and expense management.
Yelp Inc. (NYSE: YELP): Closing price $42.13
On Friday, Yelp said that it will purchase the web- and iPad app-based reservation solution for the restaurant and nightlife categories by SeatMe Inc. With SeatMe’s solution, more local restaurants and bars can provide an easier way to book online reservations, improving the consumer experience for those who use Yelp to find a superior local business. Through the terms, Yelp will acquire SeatMe for roughly $2.2 million in cash, and up to around 263,000 shares of its Class A common stock, for an aggregate purchase price of about $12.7 million, subject to the usual working capital adjustments. The transaction should close on or near July 24, and the purchase price will be recorded in Yelp’s third quarter 2013 financial statements.
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