Good morning, Austin! We've scoured the web to bring you the most buzzed-about tech news from the weekend:
Verizon buys Yahoo for $4.8 billion and plans to roll it into AOL
For anyone who remembers the 1990s Internet era, it's remarkable news that Verizon has bought Yahoo.
That's because Verizon Communications Inc. also bought AOL last year and plans to combine a lot of the functions of Yahoo and AOL. So two of the most powerful Internet companies of the 1990s and early 2000s, who were once bitter rivals, are now the same company.
The purchase price - $4.8 billion - symbolizes the "remarkable fall" of Yahoo, notes the Wall Street Journal. Yahoo once had a market capitalization of $125 billion during the height of the dot-com boom.
Verizon is technically not buying all of Yahoo. They are getting Yahoo's email service as well as its websites devoted to news, finance and sports. For Verizon, a purchase like this makes sense as part of an effort to expand into online products and digital advertising.
The rest of Yahoo - which includes its stake in China's Alibaba Group and Yahoo Japan, as well as some patents, is not part of the deal and will become a publicly traded investment company, according to the Associated Press.
And in case you were wondering, Marissa Mayer, the CEO of Yahoo, says she plans to stay with the company - meaning the part of the company that is not being sold to Verizon. But Recode reports that she is probably going to be leaving after the deal is finalized.
Nintendo stock plummets after investors learn Pokemon Go may not impact earnings
Two weeks ago we reported how Nintendo Co. stock was rising because of its financial connection to Pokemon Go. Turns out Nintendo's exposure to the success of Pokemon Go is more limited than investors realized.
As a result, Nintendo's stock, plummeted by the most since 1990,according to Bloomberg. The stock sunk 18 percent on the Tokyo stock market exchange. which is the maximum one-day move allowed by the exchange. That equals wiping out $6.7 billion in value in one day.
Before Monday, Nintendo's stock had almost doubled, adding $17.6 billion in market capitalization to the company.
Nintendo is a shareholder in Niantic Inc., which developed the game, and Pokemon Co. But the company said late Friday that income generated from its 32 percent stake in Pokemon Co. would be limited and that it wasn't revising its earnings outlook, Reuters reports.
Why Dell and HP are taking opposite tactics in their approach to winning business customers
The Wall Street Journal takes a look at the business strategies of rivals Dell Inc. and Hewlett-Packard and reports that they are taking opposite approaches to winning business customers.
Dell Inc., which is the process of buying data storage company EMC Corp., is betting that having a broad, diverse portfolio will make the combined company a "one-stop shop for large companies," the Journal reports.
HP is taking the opposite approach by breaking apart and creating a PCs-and-printers company called HP Inc. and a separate company called Hewlett Packard Enterprise focused on servers, storage and networking. They believe this will allow them to be more nimble.
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