Reuters  Google Inc’s stock surged more than 20% on Thursday after the search giant said it expects to sell its $1.8 billion acquisition of Motorola Mobility Inc for about $1 billion in cash.

The company also said it would buy about $8 billion in shares of its other U.S. wireless carrier, Sprint Nextel, for about a $600 million price tag.

The news came as Google said it expected to raise its full-year earnings estimate for fiscal 2017 by $5 billion to $7 billion.

Shares of Google climbed nearly 3%, while Microsoft Corp fell nearly 1% to $68.66.

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Google said it will sell Motorola Mobility and Sprint Nextels.

Shares rose as much as 1% at the close in New York, with Google shares up about 4% on the Nasdaq in the wake of the announcement.

Shares of Google, Microsoft and Apple all rose after the news.

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