Founder's false news increase share value

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An Apple ( AAPL ) cofounder erroneously saying the Cupertino, California company acquired a software manufacturer sent that producer's stock up - despite the fact that co-founder also since has moved on from Apple.

Online video footage of Apple co-founder Steve Wozniak telling an interviewer last Thursday that his former company acquired Nuance Communications ( NUAN ) viralled, The Boston Globe reports . In turn, investors helped shares increase from $17.11 at Monday closing to $19.19 on Tuesday. That's a 12 percent increase based on false news.

Wozniak, who no longer is with the company he helped found with Steve Jobs 34 years ago, acknowledged he had misspoken. During the same interview, he made reference to a company that Apple did purchase earlier this year.

Nuance, whose market value is more than $5 billion, declined to comment on "rumor or speculation", according to a company spokesman. Apple also declined comment.

Since Jobs returned to Apple in 1997, the company has made 14 acquisitions. Four of those purchases have been this year.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Personal Finance , Business

Referenced Stocks: AAPL , NUAN

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