Microsoft Charged By the EU, Facebook Mega-Pops: Tech Business Roundup
Shares of Nokia Corporation (NYSE:NOK) continue down as on Monday, the company completed a €750 million five-year convertible bond issue at an annual coupon of 5 percent. The original conversion price is €2.61 and the maximum number of shares which can be issued upon conversion is 7.7 percent of Nokia’s issued stock.
Microsoft Corporation (NASDAQ:MSFT) has been charged by the European Commission with failing to comply with a 2009 order to provide a choice of web browsers on its Windows 7 operating system. The firm had agreed to the order to resolve an antitrust inquiry and has blamed tech problems for it not being fulfilled. In the worst case, Microsoft might face fines of 10 percent of its worldwide revenues.
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Apple (NASDAQ:AAPL) shares move generally up, following AT&T’s (NYSE:T) announcement that it activated 4.7 million iPhones in the third quarter, a number far above the second quarter’s 3.7 million. The new figure is despite the latter’s admission that iPhone 5 supply limits impacted its postpaid net adds.
Tuesday night’s results have Facebook (NASDAQ:FB) shares are already in orbit Wednesday (pushing 20 percent late afternoon), and they got a booster shot with upgrades at BAML and Citigroup. Mark Mahaney of the latter wrote that, “What investors have for the first time since the IPO is fundamental acceleration with a reasonable valuation.”
Don’t Miss: Here’s Why Microsoft Is In Trouble.