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Bidness Etc’s Weekly Tech Roundup

Bidness Etc’s Weekly Tech Roundup
By: George Zack
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Apple Inc. (AAPL) offered to pay $450 million in damages to settle the e-book price-fixing suit filed against it last year. The company has been accused of violating antitrust laws by conspiring with five major publishers to fix prices.

Google Inc (GOOG) shares rose after it reported its second-quarter results. Even though the company missed earnings estimates, there was a lower-than-expected decline in cost per click (CPC). Google was up 2.75% this week and closed at $595.8.

LinkedIn Corp (LNKD) rose on the back of its Newsle Inc acquisition that aims to make the LinkedIn user feed more meaningful. The cost of the acquisition has not been disclosed. LinkedIn was up 2.19% this week to close at $159.99

Twitter Inc (TWTR) announced its acquisition of CardSpring, which would go a long way in making the company a dominant player in the e-commerce arena. CardSpring allows its users to link their credit card accounts with merchants and deals. Twitter was down 3.37% this week and closed at 37.05.

Facebook Inc (FB) sped up efforts to get a foothold in the e-commerce business as well; the social media giant announced that it is testing out a new ‘Buy’ button that will allow users to buy merchandise directly off the website. Facebook was up 3.14% this week to close at $68.42.

Amazon.com, Inc. (AMZN) launched an E-book subscription service which allows its users to access thousands of e-books and audio books at a monthly fee of $9.99. Amazon was up 3.6% this week and closed at $358.66.

Intel Corporation (INTC) reported strong second-quarter earnings for FY14. The company beat both revenue and EPS estimates. This is good news for the tech world as Intel is considered a barometer for the overall tech industry. Intel was up 7.84% this week to close at $33.7.

International Business Machines Corp. (IBM) exceeded expectations for both revenue and earnings per share for its second quarter of FY14. However, the growth rate of the software segment was lower than expected. IBM was up 2.39% this week and closed at $192.5

On the ETF front, Technology SPDR (ETF) (XLK) gained 1.31% this week to close at $39.43. Vanguard Information Technology ETF (VGT) was up 1.35% this week to close at $98.5

You can read detailed pieces on each of these developments on Bidness Etc News.

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