Internet giant Yahoo (YHOO) late Wednesday priced a $1.25 billion offering of convertible five-year notes, boosting the funds raised by 25% a day after announcing the offering, sending shares higher Thursday. Yahoo “upsized” the deal from $1 billion, and also boosted the allowable over-allotment to $187.5 million from the $150 million it proposed late Tuesday. Yahoo stock climbed about 2.5% to 36.50 midday in the stock market today. That topped
Sprint (S) fell to last place in a Consumer Reports consumer ranking of service quality among the nation’s four biggest wireless firms, but shares were up in mid-day trading Thursday. Consumer Reports said Sprint fell to fourth from No. 2 in its annual survey of wireless service quality. “Sprint received dismal marks this year for value, voice, text and 4G reliability,” said Consumer Reports. Sprint ranked second, behind No. 1 Verizon Wireless, a
Chipmaker Qualcomm (QCOM) expects a pickup in royalty revenue in 2014 from China as the country’s wireless service providers roll out 4G wireless data networks. At an analysts’ day in New York on Wednesday, Qualcomm management also guided to stable royalty rates, easing worries that stemmed from a small decrease in Q3. The wireless chipmaker reported Q3 EPS that missed views . “Qualcomm’s royalty rate is expected to be 3.1% to 3.3% in fiscal 2014,