Tech Stocks In News (FB, RBCN, BIDU, VELT, LDK)
Facebook Inc (NASDAQ:FB) went up 0.93% to $21.73 on a traded volume of 5.96 million shares. Capstone maintained a buy rating on the stock with the price target of $26. The firm said that the Company user’s growth totaled 1.5% throughout the past month, as user growth continued to increase.
According to partners using the social network’s ad service, Facebook Inc is doing a better job than Google Inc in getting Web surfers to click on advertising based on browsing history.
Rubicon Technology Inc (NASDAQ:RBCN) increased 3.83% to $9.77.ThinkEquity upgraded the rating on the stock from hold to buy with a price target of $14.00. B. Riley upgraded the rating on the stock from neutral to buy with a price target of $10.50.
Baidu.com Inc (ADR) (NASDAQ:BIDU) slipped 0.74% to $112.42 on a traded volume of 515k shares. The stock is down as the Company is facing tough competition from its business rivals like SINA, SOHU and YOKU. All these rival companies are taking their best initiative to get maximum mileage for making revenue out of online business.
Velti Plc (NASDAQ:VELT) surged up 13.61% to $9.77. The Company has closed a $27 million deal. This is a 2-year deal to provide its mobile marketing technology to a major U.S. brand. The deal is expected to commence in the next few weeks. This program will drive increased engagement with and long-term loyalty of the brand’s existing customers.
LDK Solar Co Ltd (ADR) (NYSE:LDK) surged up 1.67% to $1.22 30. The Company reported second quarter loss of $254.3 million or $2 per share compared to loss of $87.7 million or 62 cents per share in the prior year period. However, analysts expected a loss of $1.42 per share. Revenue declined 53% to $235.4 million. The Company expects market conditions to continue to be tough in the third quarter.