3 Tech Stock Stories Raising Eyebrows on Tuesday
Google Inc. (NASDAQ:GOOG): Closing price $919.61
Google has contacted media firms in regards to licensing their content for an Internet TV service that would stream traditional television. It this happens, Google would join a number of other tech companies that plan to offer the so-called “over-the-top” services, which would supply cable TV-style packages of channels via broadband connections. Intel (NASDAQ:INTC) intends to introduce its service by the end of 2013, while Sony (NYSE:SNE) and Apple (NASDAQ:AAPL) are also developing similar offerings.
Telecom Italia (NYSE:TI): Closing price $6.39
Late Monday, Telecom Italia SpA said it is postponing its plan to spin off its fixed-line copper network subsequent to the regulator AGCOM’s proposal to lower the rates that rivals must pay in order to access Telecom’s fixed-line network. Following an unusual board meeting, the company said the continuation of the project is subject to verification of regulatory aspects. Telecom Italia said in a statement that “Before proceeding with further stages of implementation of this plan, the consistency of its content and the regulatory path…must be verified.”
Accenture (NYSE:ACN): Closing price $75.29
Accenture will acquire the privately held Mortgage Cadence, which provides loan origination software and electronic document management services in the U.S. The transaction will contribute an advanced tech platform to reinforce Accenture’s mortgage business-process outsourcing services, and permit it to provide software to mortgage lenders who want to increase efficiency and lower costs. Financials of the transaction were not reported.