4 Tech Stock Stories Ready for a Tuesday Scan
Google Inc. (NASDAQ:GOOG): Closing price $865.42
On Tuesday, Google said that it has begun adding user-generated content from Waze into Google Maps in certain countries. Vice President Brian McClendon wrote in a blog post that the standalone Waze Map Editor will now feature Google’s “Street View,” which will “make it easier to correct map errors reported by the community.”
The Waze application also has been updated with Google Search, according to the firm. Tuesday’s updates represent the first large integrations to be announced since Google paid roughly $1 billion for the mobile mapping startup in early June.
Apple Inc. (NASDAQ:AAPL): Closing price $501.07
Knowledgeable sources to Ad Age say that iTunes Radio, which marks Apple’s answer to Pandora, is on track to launch in September with some high-profile brand partners including Pepsi, McDonald’s, Nissan, Procter & Gamble, and perhaps one or two more brands.
The agreements range from the high single-digit millions of dollars to tens of millions of dollars and include a 12-month advertising campaign to run within the streaming music service for each of the participating brands. The launch partners receive exclusivity within their respective industries through the end this year. However, in January, ads on iTunes Radio will become widely available, assuming that an advertiser agrees to the minimum buy-in of some $1 million, according to the sources.
Baidu Inc. (NASDAQ:BIDU): Closing price $134.96
The number-one search engine in China signed a deal last week to acquire an operator of mobile application stores, 91 Wireless, for $1.9 billion from the online video game firm NetDragon. The purchase should help Baidu take back ground against two other Chinese Internet majors, Alibaba and Tencent, which were quicker to add mobile capabilities. On the rest of the planet, most mobile applications are distributed via official outlets such as Google Play or Apple’s App Store, but in China, dozens of so-called alternative application stores are the dominant distributors.
Lexmark International, Inc. (NYSE:LXK): Closing price $40.15
Lexmark on Tuesday announced that it will acquire Saperion AG, which develops and provides enterprise content management and business process management software in Europe, at a cash purchase price of roughly $72 million. Upon the close of the transaction, Saperion will report into Perceptive Software. The company has a n extensive installed base of customers comprised of medium-sized firms, together with global accountslike Schindler, E.ON, Fleurop, Henkel, Lufthansa, Vodafone, Daimler, and Siemens with corporate-wide rollouts.