4 Tech Stock Stories Buzzing Along on Thursday

Nokia Corp. (NYSE:NOK): Closing price $4.03

Nokia shares closed unchanged on the day after reporting lower-than-anticipated revenue and a break-even profit when Wall Street had expected a loss. The stock has received one downgrade so far, from the analyst Charlie Wolf at Needham & Co, who lowered his Buy to Hold, writing that “We were too early, if not wrong on our Nokia upgrade.” Wolf reduced his estimate for 2013 to 25.39 billion euros in revenue from an earlier 30.41 billion euros and cut his earnings estimate to 11 cents from 30 cents. For 2014, he foresees 29.08 billion euros and 25 cents a share, down from his previous 35.93 billion euros and 50 cents.

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NOK

Baidu Inc. (NASDAQ:BIDU): Closing price $111.20

The Chinese search giant is shelling out $1.9 billion for an app store, an amount almost double the market value of Barnes & Noble, the largest U.S. bookstore chain. Beyond that, Baidu’s deal values the app store, 91 Wireless, higher than the market caps of Office Depot and OfficeMax, retail chains more than 20 years old that also sell software. The game maker NetDragon Websoft, the majority shareholder in 91 Wireless, said its app store was worth a mere $115 million in 2012, according to Lulu Yilun Chen at Bloomberg.

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BIDU

ReneSola Ltd. (NYSE:SOL): Closing price $3.73

ReneSola reported Thursday that its Polycrystalline Silicon Terrestrial PV Module line has been listed by Underwriters Laboratories as satisfying the applicable standards of the Japanese market. This attainment follows ReneSola’s Japan Photovoltaic Expansion Center and Japan Electrical and Environment Technology Laboratories certifications earlier in 2013, which mark two of the largest administrative hurdles for foreign firms moving into Japan’s solar market. ReneSola is the first PV company to receive this certification on a worldwide basis.

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SOL

AOL Inc. (NYSE:AOL): Closing price $37.35

According to Business Insider, there is chatter among industry sources that AOL has extended an offer ranging between $375 million and $425 million to acquire the video ad tech startup Adap.tv. The publication’s source says that Adap.tv has not yet advised AOL if it will accept the deal. Purchasing Adap.tv would permit AOL to expand its business into video advertising, in which the prices are far higher. However, AOL currently only has $467 million in cash on its balance sheet.

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AOL

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