Though many are concerned about the looming threat of the fiscal cliff, telecom companies are actually ramping up spending, as demand for smartphones and tablets continues.
AT&T will spend $8 billion a year to continue expanding its 4G network by 2014, and an additional $6 billion on wireline equipment that serves business customers.
Pricline.com (PCLN) made a surprise acquisition of Kayak Software (KYAK) for $40 per share in cash and stock late on Thursday. Shares of Priceline.com closed the week 1.4% lower at $625.87, while Kayak soared 11.8% to finish at $39.67.
Next week we have earnings from Cisco (CSCO), Dell (DELL), Intuit (INTU) and others in tech. Enjoy your weekend! Interested in more on Priceline.com? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull