Nokia Corporation (NYSE:NOK): According to DigiTimes, Spreadtrum Communications (NASDAQ:SPRD) and MediaTek are expected to wing large feature phone orders soon from international brands. Samsung (SSNLF) could possibly source 2.5G/75G handset solutions from Spreadtrum, and MediaTek will probably receive phone solution orders from Nokia. Spreadtrum could also dip its hand in 4G and quad-core smartphone solutions before the year’s end.
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Wells Fargo & Company (NYSE:WFC) was upgraded by Sterne Agee due to consistent operating results, positive operating leverage, balance sheet growth, and capital deployment. Wells Fargo has a $38 price target.
Research In Motion Limited (NASDAQ:RIMM) continues to have issues as the Canadian company was made to pay a $147.2 million fine for patent infringement to New Jersey-based technology firm Mformation Technologies
Alpha Natural Resources, Inc. (NYSE:ANR) along with Arch Coal (NYSE:ACI) have fallen lower in premarket trading following the downgrade of both companies to Underperform at BMO capital. The downgrade is due to a weak demand for Appalachian coal, high levels of debt, and deteriorating margins. ANR is down 5.4 percent and ACI is down 5.8 percent premarket.
Intel Corporation (NASDAQ:INTC) has purchased Whamcloud, a commercial purveyor of the open-source Lustre file system, in order to fortify its position in the high-performance computing (HPC) market. The deal’s terms have not yet been announced.
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