(Updates from 12:52 p.m. ET with closing information.)
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 Tumblr 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 CNBC interview.Clearwire (CLWR) was popping 4.91% to $3.42 after Sprint (S) on Tuesday sweetened its offer for its wireless-network partner to $3.40 a share, 10 cents higher than Dish Network's (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 SoftBank 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. Kyocera (KYO) 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. Youku Tudou (YOKU) rose 4% to $20.75 after T.H. Capital 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. Apple (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 Microsoft (MSFT) 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."
Closing prices: 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. Follow @atwtse Written by Andrea Tse in New York >To contact the writer of this article, click here: Andrea Tse.
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