Tech: Nokia Gains Momentum (BIDU, OCZ, HPQ, BKS, NOK)
Baidu.com Inc (ADR) (NASDAQ:BIDU) jumped over 0.94% to $113.28 on a traded volume of 17k shares. Deutsche Bank has restated hold rating of the Company’s stock. However, analysts have forecasted $4.68 earnings per share for the current fiscal year. The 52 week trading range for the company is $99.71 – $154.15. The market capitalization of the stock remained 39.20 billion and the P/E ratio of 28.79.
OCZ Technology Group Inc (NASDAQ:OCZ) moved up 6.91% to $ 3.56 on a traded volume of 12k shares. Recently, the Chief Executive Officer, Ryan Petersen has resigned from his position. The Board of Directors has appointed Alex Mei, Executive Vice President and Chief Marketing Officer as Interim Chief Executive Officer, effective immediately. Mr. Mei’s appointment follows the Board’s acceptance of Ryan Petersen’s resignation. Mr. Mei will also maintain his current responsibilities as EVP and Chief Marketing Officer until a permanent CEO has been selected.
Hewlett-Packard Company (NYSE:HPQ) jumped up 0.18% to $ 17.15 at a traded volume of $2.34 million shares. The market capitalization remained 33.76 billion. Jefferies & Co lowered the rating on the stock from hold to underperform. The firm maintained a price target of $14 target price on the stock. The Company disclosed two new HP ProLiant Generation 8 four-socket servers.
Barnes & Noble Inc (NYSE:BKS) declined 1% to $12.86 on a traded volume of 343k shares. The Company announced the launching of a movie streaming and download service called Nook video. The Nook Video service will allow shoppers to buy movies and television shows from Viacom, Warner Bros, HBO, and others. The Company entered into partnership with Sainsbury’s to bring the NOOK reading experience and digital products.
Nokia Corporation (ADR) (NYSE:NOK) increased 1.35% to $ 2.62 on a traded volume of 4.38 million shares. The market capitalization of the stock is 9.83 billion. The Company has introduced a new application named “City Lens Point”. This will assist the customers to find out different places and get directions. Nokia has launched this application for its Lumia phones and some other smartphones.
Recently, BMO Capital Markets has lowered the rating of the stock from a market perform rating to an underperform rating.