Facebook, Qualcomm, Apple: Tech Premarket
NEW YORK (TheStreet) -- Facebook (FB) shares crept higher in premarket trading Tuesday, gaining 0.11% to $27.07, after a judge agreed to preliminary approve a settlement between some of its users over privacy issues.
U.S. District Judge Richard Seeborg granted preliminary approval of $20 million to settle the claims that Facebook used some of its users' named without their permission, while advertising products through its "Sponsored Stories."
As part of the revised settlement, Facebook will also revise its terms so that users can better see when they are being a product endorser, particularly when they click "like" on a product or game.
The Menlo Park, Calif.-based Facebook also announced its first ever product without needing a Facebook account, Facebook Messenger for Android. Users can sign up using just a phone number.
Qualcomm (QCOM) shares ticked up 0.36% after the company agreed to invest $120 million in beleaguered technology company Sharp.
Through its Pixtronix subsidiary, Qualcomm will invest the money to help develop new power-saving screens, which are based off Sharp's IGZO technology.
"With this agreement Sharp will accelerate its strategy for growth in small-to medium-sized LCDs," Sharp said in a statement. Qualcomm will own 2.64% of Sharp's equity after the deal, making it one of Sharp's largest shareholders.
Apple announced last week that both the iPhone 5 and the Wi-Fi versions of its iPad mini and fourth generation iPad will be coming to China later this month.
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--Written by Chris Ciaccia in New York
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