Wednesday, November 14, 2012

Tech gainers: Facebook Inc (NASDAQ:FB), Nokia Corporation (NYSE:NOK)

Nokia Corporation (ADR)(NYSE:NOK)’s CEO, Stephen Elop, has said that its relationship with partner and software giant Microsoft will not change, the Washington based company's foray into tablets and deals with rival phone makers notwithstanding.
Is Lumia A Real Turnaround Formula For NOK and Investors Should The Stock Now? Find Out Here

At the Morgan Stanley Technology, Media and Telecoms conference in Barcelona, he said that Nokia continues to have a "special" relationship with Microsoft, even as rivals launch phones with Windows Phone software, adding "They're not sitting in the priority meetings that we're sitting in."
Market experts say that if it comes out with its own smartphones, Microsoft could one day turn into a rival. There is also speculation that the Microsoft could one day take over the Finnish company.

Facebook: Another lock-up expiry
Facebook Inc(NASDAQ:FB)’s longest lock-up period expires today freeing millions of shares for possible sale in the market, the danger being that this could depress the share prices if many of the holders rush to sell.
 The freed up shares number 773 million, along with 31 million restricted stock units. In addition, about 48 million shares held by former employees of the social networking company will also be eligible for sale, taking the total to 852 million.
The previous lockup expiration was on October 29, when U.S. stock markets were closed because of Superstorm Sandy. When the market opened 2 days later, the stock fell nearly 4 percent.
Earlier, on October 24, it had registered the highest single-day gain on better-than-expected results and on detailed explanation of its mobile ad income. Mobile ads are an important revenue source as more and more users access the networking site from tablets and smartphones.
Starting from the time of the IPO, the stock, priced then at $38 has been under pressure- technical glitches on the day of debut, doubts about the site’s revenue earning capacity etc.
Shares of FB soared 9%t to $21.64.

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