Biz Break: Facebook spends millions for Yahoo patent fight while profit dips, Netflix plummets after earnings report
Monday, 23 April 2012
Today: Facebook pays Microsoft more than half a billion dollars for AOL's patents while fighting Yahoo lawsuit, then reports a decline in first-quarter profits. Also: Netflix earnings beat projections, but talk of slowdown in subscription growth causes stock to slide; and Apple falls again as Wall Street dips.
Stocks edged higher on Friday, again driven by strong corporate earnings that partially offset a weaker-than-expected reading on economic growth, extending three days of gains. Amazon's first-quarter earnings surprise sent shares of the No. 1 e-retailer s