(Updates from 12:52 p.m. ET with closing information.)
NEW YORK (
) -- The tech-heavy
closed higher Tuesday as
(YHOO - Get Report)
shares rose 1.88% to $27.08.
The Silicon Valley internet company announced Monday the complete upgrade of its popular
Flickr photo sharing service
, and the leasing of new space for a Yahoo! New York office.
The news followed the Internet giant's announcement earlier Monday it reached a deal to buy microblogging site
for $1.1 billion. Yahoo!'s acquisition of Tumblr is not just about the audience, it's about
the possibilities for the two companies,
Yahoo! CEO Marissa Mayer said during a
was popping 4.91% to $3.42 after
on Tuesday sweetened its offer for its wireless-network partner to $3.40 a share, 10 cents higher than
(DISH - Get Report)
bid. The improved proposal represents a 14% premium to Sprint's previous proposal and values Clearwire at $10.7 billion.
Sprint Nextel gained 1.17% to $7.38 after being granted a disclosure waiver by third-largest Japanese mobile phone company
that would permit the company to explore a $25.5 billion proposal from Dish Network. Sprint is currently in a deal to sell a 70% of itself to SoftBank for $20.1 billion. Dish was higher by 1.65% to $39.33 as the development unfolded.
was rising 2.67% to $107.92 after the Japanese electronics firm said Tuesday that it has expanded its Hydro Series of waterproof smartphones with the introduction of the Hydro XTRM and Hydro Edge, two new Android smartphones.
rose 4% to $20.75 after
analyst Tian Hou maintained a "buy" rating on the Chinese Internet TV company and raised its price target to $28. "We believe YOKU has already become the highest recognized name in China's online video market and has become the first choice among online video vendors for viewers. We believe such brand advantage is the result of accumulated efforts in content operating over the years, and it is hard for other vendors to catch up," she wrote.
(AAPL - Get Report)
was down 0.56% to $440.46 as CEO Tim Cook appeared before Congress Tuesday, as reports show the tech giant
used Irish subsidiaries to avoid paying taxes
on more than $70 billion in profits over the past three years.
Apple's Brand Is a Hidden Asset
was down 0.63% to $34.86 as the software giant got ready to unveil its next-generation Xbox console Tuesday, rumored to be called "Infinity" or "Xbox 720."
: YHOO ended Tuesday up 1.6% to $27, S rose 1.4% to $7.39 and DISH was 3.2% higher at $39.93. KYO was up 3% to $108.23, YOKU was 2.9% higher to close at $20.91, AAPL fell 1% to $439.66 and MSFT was down 1% to $34.85.
Written by Andrea Tse in New York
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