Priceline.com came close Friday to becoming the first stock in the Standard & Poor’s 500 index to ever cross $1,000. Priceline’s stock ended the day with a gain of $36.14, or almost 4 percent, at $969.89 after earlier reaching an all-time high of $994.98 in the wake of the company’s second-quarter results late Thursday. The online travel company reported a profit of $437 million, or $8.39 a share, on $1.68 billion in revenue. During the same period a year ago, Priceline reported a profit of $352 million, or $6.88 a share, on sales of $1.33 billion.
Tumblr founder to get $81 million to stay
Yahoo’s recently completed acquisition of Internet blogging service Tumblr includes an $81 million payment to Tumblr founder David Karp, 27, as long as he remains on the job for the next four years. Karp and Tumblr investors agreed to sell the service for $1.1 billion in May.
Tyson won’t buy cattle fed supplement
Tyson Foods Inc. told cattle feeders this week it will no longer buy animals fed a supplement that’s designed to bulk them up before slaughter, citing experts who suggest the drug may be causing cattle to become lame. Merck Animal Health, which makes the drug, Zilmax, said in an emailed statement that its product is safe for use in cattle. Merck said it will work with Tyson to help identify other causes for the lameness.
Apple wins patent case against Samsung
Apple Inc. won its patent- infringement case against Samsung Electronics Co. and an order limiting U.S. imports of certain products that Apple claims “slavishly copied” its iPhone and iPad tablet computers. Samsung violated Apple patent rights, the U.S. International Trade Commission in Washington said in a notice posted on its website today. The import ban is subject to review by President Barack Obama.