Ya­hoo buys more mo­bile ex­per­tise in deal

The price growth is adding mo­men­tum in the hous­ing re­cov­ery.

Austin American-Statesman - - BUSINESS - NAM Y. HUH / AS­SO­CI­ATED PRESS Econ­omy

SAN FRAN­CISCO — Ya­hoo has bought an­other Sil­i­con Val­ley mo­bile startup as CEO Marissa Mayer tries to cre­ate more com­pelling prod­ucts for smart­phones and tablet com­put­ers.

Tues­day’s ac­qui­si­tion of On­TheAir fol­lows Ya­hoo’s re­cent pur­chase of a mo­bile startup called Stamped. In both cases, Ya­hoo was drawn more by the en­gi­neer­ing tal­ent work­ing at the star­tups than the ser­vices that they have been of­fer­ing.

Ya­hoo Inc., which is based in Sun­ny­vale, Calif., didn’t dis­close how much it paid for On­TheAir, which is based in San Fran­cisco.

The ser­vice en­ables users to hold on­line video chats in a talk-show for­mat. Ya­hoo didn’t say whether it in­tends to con­tinue On­TheAir’s ser­vice.

Ya­hoo is in the process of clos­ing Stamped’s ser­vice just six weeks af­ter an­nounc­ing that ac­qui­si­tion so the engi­neers picked up in that deal can fo­cus on other projects.

Five of the 11 Stamped em­ploy­ees used to work for Google Inc., where Mayer was a top ex­ec­u­tive be­fore Ya­hoo lured her away to be­come its CEO in mid-July. WASHINGTON — A mea­sure of U.S. home prices rose 6.3 per­cent in Oc­to­ber com­pared with a year ago, the largest yearly gain since July 2006. The jump adds to signs of a come­back in the once-bat­tered hous­ing mar­ket.

Core Logic also said Tues­day that prices de­clined 0.2 per­cent in Oc­to­ber from Septem­ber, the sec­ond drop af­ter six straight monthly in­creases. The monthly fig­ures are not sea­son­ally ad­justed. The real es­tate data provider says the de­cline re­flects the end of the sum­mer home­buy­ing sea­son.

“The hous­ing re­cov­ery that started ear­lier in 2012 con­tin­ues to gain mo­men­tum,” said Mark Flem­ing, CoreLogic’s chief econ­o­mist. “The re­cov­ery is ge­o­graph­i­cally broad-based with al­most all mar­kets ex­pe­ri­enc­ing some ap­pre­ci­a­tion.”

On Wall Street, stocks were lit­tle changed Tues­day as bud­get talks con­tin­ued in Washington.

The Dow Jones in­dus­trial av­er­age closed down 13 points at 12,951 af­ter trad­ing in a nar­row range of just 82 points. The Stan­dard and Poor’s 500 was down 2 points to 1,407 and the Nas­daq com­pos­ite was down 5 points at 2,996.

Steady home price in­creases are help­ing fuel a hous­ing re­cov­ery. They en­cour­age more homeowners to sell their homes. And they en­tice would-be buy­ers to pur­chase homes be­fore prices rise fur­ther.

An ‘un­der con­tract’ sign in­di­cates a pend­ing sale at a home in Glen, Ill., one of just five states where home prices de­clined, an­other sign that the hous­ing mar­ket is en­joy­ing a re­cov­ery.

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