Measurement Specialties announced that the company's Board of Directors has adopted a program to repurchase from time to time at management's discretion up to $7M of the shares of the company's common stock in the open market or in private transactions at prevailing market prices. As of July 20, the company had 15,409,462 shares of common stock outstanding. Repurchases will be made under the program using the Company's own cash resources. Needham & Co. will act as agent for the company's stock repurchase program.
Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social …