Baidu.com Inc (ADR) (NASDAQ:BIDU) went down 1.01% to $108.20. Jefferies Group restated buy rating on the stock in a research report. Credit Suisse lowered the price target on Baidu.com from $123.00 to $118.00 in a research note.
Nokia Corporation (ADR) (NYSE:NOK) jumped up 5.89% to $2.79. Nokia Siemens Networks is in discussion with a variety of companies in an effort to sell its business support systems unit. According to report from Reuters, chief executive of Nokia Siemens, Rajeev Suri said that the Company is looking to channel some product lines and will focus on mobile broadband.
Palo Alto Networks Inc (NYSE:PANW) decreased 8.75% to $65.35 after the Company released fourth quarter results. The revenues were $75.6 million compared to $40.2 million in the prior year period. However, analysts estimated revenues of $71.33 million for the quarter. The loss was $4.6 million or $0.18 per share compared to $6.0 million or $0.40 per share in the prior year period. In July, Palo Alto raised $215.4 million from its initial public offering. The company sold about 7.1 million of its common shares.
Zynga Inc (NASDAQ:ZNGA) plunged 1.42% to $2.78 on a traded volume of 24k shares. The Company added nine developers to its publishing portfolio of 24 companies. This will bring in a potential new source of revenue for the struggling Company.
The Company announced the launch of four partner games on Zynga.com and welcomes nine new partners on the Zynga Platform. The games from third party developers will be available on Zynga’s own destination for play for the first time.
The Company is a provider of social game services with 240 million average monthly active users over 175 countries.
Majesco Entertainment Co (NASDAQ:COOL) slipped 3.33% to $1.68 after the Company released third quarter results. Net revenues were $9.1 million compared to $19.5 million in the previous year period. The operating loss was $3.6 million compared to operating income of $0.9 million in the third quarter of 2011. Net loss for the third quarter was $3.1 million versus net income of $1.9 million in 2011. The diluted net loss per share was $0.08 compared to diluted net income per share of $0.05 in the prior year period.
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