4 Tech Stock Stories Primed for a Weekend Download
Google Inc. (NASDAQ:GOOG): Closing price $870.21
Google has requested that United States District Judge Edward Davila in San Jose approve the resolution of a lawsuit alleging that it transferred personal information contained in user searches to third parties, such as marketers and data brokers.
The lawsuit claims that Google “consistently and intentionally” designed its searches to gather and send data, among which included names, account numbers, credit card numbers, Social Security numbers, medical information and political beliefs, and that the information was sold and resold to “countless other third parties.”
Plaintiff attorney Kassra Nassiri explained to Davila at a hearing Friday that users are worried about their privacy because that data is now put together in such a way that any single Google search “will be associated with them in the future.”
Apple Inc. (NASDAQ:AAPL): Closing price $501.02
The Department of Justice said Friday that it might wiggle somewhat on the remedies proposed for Apple after the e-books trial, but it will not move on having the company be monitored. In July, the government prevailed on an antitrust suit against Apple, and at first requested an injunction of 10 years, but the Department said it is willing to reduce that time to five years, noting that it is trying to limit the possibility that changes in the industry will lead the decree to “outlive its usefulness and unnecessarily harm Apple.”
However, the Department wants the ability to request a limited number of one-year extensions, having removed language that Apple said would impact its ability to effectively manage its App Store.
Amazon.com Inc. (NASDAQ:AMZN): Closing price $290.01
Knowledgeable sources report that Amazon.com has tested a new wireless network that would permit customers to link its devices to the Internet. The wireless network employed spectrum controlled by the satellite communications firm Globalstar Inc., according to the sources, who explained that the trial emphasizes how Amazon is moving beyond being a Web destination and hardware manufacturer. It is exploring deeper into the underlying tech for how people connect to the Internet.
Qualcomm Inc. (NASDAQ:QCOM): Closing price $67.15
On Friday, Qualcomm announced that it will divest its subsidiary Omnitracs, Inc., to the private-equity Vista Equity Partners. Though the terms, Vista will buy Omnitracs for $800 million in cash. The deal will include all Omnitracs operations in the United States, Canada, and Latin America, including Sylectus and FleetRisk Advisors, which were bought by Omnitracs in 2011.
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