Apple Averts iTunes Antitrust Lawsuit and 2 More Heavily Traded Stocks to Follow
Apple Inc. (NASDAQ:AAPL): Current price $488.58
In a Tuesday decision, the United States Court of Appeals in San Francisco said that Apple does not have to face an antitrust lawsuit brought by customers who claimed that it maintained a monopoly over music downloading via its iTunes stores. The court upheld a lower-lower court judge’s dismissal of the case. The customers had alleged in the suit that Apple attempted to block competition, and charge more by disallowing users from playing some iTunes music on non-Apple devices. However, the appeals panel said that Apple’s downloaded song prices stayed the same even after competitors moved into the market.
Dell Inc. (NASDAQ:DELL): Current price $13.77
As it searches out investor backing to take the company private at $13.88 a share, Dell said that its most recent offer has obtained renewed backing of the top three shareholder-advisory firms. Glass, Lewis & Co., Institutional Shareholder Services Inc., and Egan-Jones Ratings Co. have all released reports reiterating their endorsement of the buyout, according to a Dell statement Tuesday. Founder Michael Dell and partner Silver Lake Management LLC upped their offer to $13.88 in August by adding an extra dividend of 13 cents.
Yahoo! Inc. (NASDAQ:YHOO): Current price $27.78
On Tuesday, Yahoo! announced that the former AOL Networks Chief Executive Ned Brody has been named chief of the its advertising business in the Americas. Brody will report to Yahoo! Chief Operating Officer Henrique de Castro, according to the firm. Yahoo! shares were up by 2.5 percent in heavy afternoon trading.