4 Tech Stock Stories Making a Buzz On a Short Trading Day

Verizon Communications (NYSE:VZ): Closing price $51.01

An independent telecommunications attorney has filed a petition with the Federal Communications Commission alleging that Verizon Wireless grossly understated the amount it collected from false data charges on customer bills when the company said that it would refund the levies in 2010. Attorney Arthur V. Belendiuk of Washington said in a petition for investigation that Verizon and FCC documents obtained through a Freedom of Information request contained evidence that indicated that Verizon might have taken some $240 million or more from the false charges, which more quadruples the nearly $53 million it agreed to refund. Verizon spokesman Torod B. Neptune called the allegations without merit and would not comment further.

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VZ

Google Inc. (NASDAQ:GOOG): Closing price $886.43

YouTube renewed its arrangement with the music video distributor VEVO. The accord permits YouTube to keep VEVO’s videos on its site and mandates that Google invest in the company. The terms of the deal have not been reported, but Billboard estimated in February that its value is between $40 million to $50 million and would give Google a 7 percent interest in Vevo. In a statement, YouTube said: “We made an investment in Vevo. We are excited by their future prospects and to provide YouTube users with the best possible music experience.”

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GOOG

Taiwan Semiconductor Manufacturing Co. (NYSE:TSM): Closing price $18.12

Sources at fabless IC firms say the company’s sales prospects for the second half still appear promising as the foundry house’s output capacity for its 28nm and 40nm processes has been fully booked through the third quarter. TSMC continues to enjoy an acceleration in orders from Qualcomm, MediaTek, and Broadcom, which have transferred their focus to the quickly growing low-cost smartphone market in emerging economies, according to the sources. IC demand for low-end to midrange smartphones has been impressive given a recent slump in demand for high-end models from Samsung Electronics and HTC.

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TSM

Apple (NASDAQ:AAPL): Closing price $420.80

The news that the high-end fashion house Yve420.80s Saint Laurent was losing its CEO, Paul Deneve, has caused a bit of dismay in the fashion world. At first, the announcement was that Deneve was exiting to join the high-tech industry, but now it is known that he is joining one of the largest companies in that industry. Bloomberg was able to confirm Wednesday that Apple hired Deneve in an executive role. Details are presently lacking, but the word is that Deneve will report directly to Apple CEO Tim Cook as a vice president for developing special projects.

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AAPL

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