Tech Biz Recap: Nokia Shares SPIKE on PureView Phone Release, Groupon UPGRADED
Nokia’s (NYSE:NOK) shares rise a bit Monday, on the reported U.S. release of its PureView 808 phone, which features a 41 megapixel camera. While it’s thought by some that the phone’s running on Symbian might limit consumer interest, the firm promises to bring the phone’s imaging tech to Windows Phone devices.
In a bit of a turnaround, consumer Internet firms having recent IPOs had a good Monday, running off of short-covering and positive commentary: Facebook (NASDAQ:FB) was praised for its purchase of Face.com.; Groupon (NASDAQ:GRPN) from an upgrade at Morgan Stanley; and Zynga (NASDAQ:ZNGA) from bullish comments by Michael Pachter at Wedbish, who forecast that new games will reinforce user growth, and enhanced revenues from older games will rise in the second half. Perhaps in sympathy, shares of Pandora (NYSE:P), Yelp (NYSE:YELP), and Linkedin (NYSE:LNKD) followed suit.
Bernstein is pleased with Intel’s (NASDAQ:INTC) purchase of $375 million worth of patents from InterDigital (NASDAQ:IDCC), while shares of the latter shoot the moon. Intel paid some $220,000 per patent, which was far below the $750,000 a pop shelled out for Nortel’s intellectual property in 2011. At the same time, Deutsche Bank says that the transaction is good news for Alcatel-Lucent (NYSE:ALU), which has charged RPX (NASDAQ:RPXC) with the job of monetizing its approximate 29,000 patents and applications, which will greatly improve its liquidity.
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