Internet Company News
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Asian stocks rose the first time in three days, with a regional gauge set for the highest close since June 2008, after U.S. consumer sentiment beat estimates and Tokyo Electric Power Co. led Japanese utilities higher.
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Yandex NV will extend gains from a 20-month high as Russia’s biggest Internet company boosts its dominance of the search market, according to Sberbank Investment Research’s Anna Lepetukhina, the most accurate analyst covering the stock.
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Jon Brod, chief executive officer of AOL Inc.’s local-news division Patch, is stepping down from the role and will return to AOL Ventures, the investment arm.
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Emerging-market technology stocks rose on better-than-estimated earnings at Tencent Holdings Ltd. Russian and Brazilian shares fell led by commodity producers.
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Sina Corp., owner of China’s largest Twitter-like service, posted a first-quarter loss as an advertising slowdown damped revenue and the company spent more on developing mobile applications.
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Chinese stocks fell for the first time in three days in New York, led by NQ Mobile Inc. and NetEase Inc., on concern slowing foreign investment will delay a rebound in the world’s second-largest economy.
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Tencent Holdings Ltd., China’s largest Internet company, will introduce games aimed at mobile users of its WeChat messaging service in the next few months to boost revenue after posting profit that beat analyst estimates.
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Dan Loeb, the hedge-fund manager who successfully pushed for an executive shakeup at Yahoo! Inc., is taking his activism overseas for the first time with a $1.1 billion stake in Sony Corp., seeking change in a country where few U.S. investors have succeeded with that approach.
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Do our eyes deceive us? A wireless company looking for ways to lower our smartphone bills?
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Carson Block, the short-seller who runs Muddy Waters LLC, said he’s betting against the debt of Standard Chartered Plc because of “deteriorating” loan quality, triggering a 13.5 percent jump in the cost of insuring against losses on the debt of the British lender.
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