Facebook, Yahoo

Facebook Inc. and Yahoo Inc. shares gained modest ground late Friday after the companies said they?ve settled their legal disputes and have formed a new online advertising alliance.

Facebook shares (US:FB) were up 0.3% at $31.83 and Yahoo (US:YHOO) gained 0.6% at $15.87. The social-networking company and the online search provider in a joint statement said all pending patent claims between them have been settled. They?ve also struck a new ad deal, which includes a patent portfolio cross-license agreement. Financial terms weren?t disclosed.

A formal announcement of the deal was released after the end of the regular trading session, but had been reported earlier in the day by the AllThingsD technology blog.

Facebook shares closed the regular session up 0.8%, while Yahoo shares slipped 0.4%.

The day session ended with U.S. stocks in the red following a tepid monthly jobs report. Read more in Market Snapshot.

The Dow Jones Industrial Average (US:DJIA) dropped 124 points, or 1%, to 12,772.47. It fell 0.8% for the week. The S&P 500 Index (US:SPX) lost 0.9% to end at 1,354.68, ending 0.6% lower for the week. The Nasdaq Composite Index (US:COMP) slumped 1.3% to 2,937.33. However, it posted a weekly gain of 0.1%, the index?s fifth-consecutive weekly rise.

Source : Market Watch


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