Tech Business Roundup: Zuckerberg Goes To Russia, RIM’s Good Day
It’s off to Russia for Facebook (NASDAQ:FB) Chief Executive Mark Zuckerberg as he will visit the country during the first week of October to assist development of a technology center outside of Moscow. In addition, he will meet with Prime Minister Dmitry Medvedev along with other top officials and industrialists.
The Chinese solar panel maker Yingli Green Energy Holding Company Limited (NYSE:YGE) has denied allegations made by a group of 25 European solar panel firms that it and other Chinese companies of the sector benefit from illegal subsidies. Yingli said that, “We receive financing at the usual market rates and act according to international accounting standards and norms.”
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Shares of Fortinet, Inc. (NASDAQ:FTNT) slumped on the announcement that Chief Financial Officer Ken Goldman is departing for Yahoo! Inc. (NASDAQ:YHOO) to hold the same position in that company. Goldman’s reputation in Silicon Valley is said to be ‘sterling’, as he was CFO of several other prominent tech firms before joining Fortinet in 2007. Nomura maintain its Buy, contending that the firm will keep up its top position in the growing UTM security hardware market, due to its appealing products, execution of sales, and coming refreshes.
Research In Motion Limited (NASDAQ:RIMM) shares are having an excellent day, as investors appreciate that the BlackBerry subscriber data that wasn’t that bad, although some observers are noting that subscriber growth is being supported by inexpensive BlackBerry Curve sales in emerging markets. However, a relatively positive Goldman note is helping shares as the analyst restates its Neutral. Additionally, Goldman also likes the BlackBerry subscriber growth and is raising its estimates in kind.