4 Tech Stock Stories Creating Commotion on Thursday

Microsoft Corp. (NASDAQ:MSFT): Closing price $32.39

Microsoft reports that it is cooperating with federal authorities looking into possible illegal activity by employees and business partners located in Russia and Pakistan. Deputy General Counsel John Frank wrote in a blog post on Wednesday that the firm takes every allegation seriously and will cooperate fully with all government inquiries. Meanwhile, spokesman Mark Murray for Microsoft affirmed that its activities in Russia and Pakistan are now part of an inquiry.

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Hewlett-Packard Co. (NYSE:HPQ): Closing price $22.22

Analyst Ananda Baruah at Brean Capital has maintained a Buy on Hewlett-Packard, along with a price target of $32, saying that said execution problems in Enterprise and Chief Executive Whitman’s more tempered forecasts concerning fiscal year 2014 revenue are not materially incremental to his thesis.

Baruah pointed to the company’s healed balance sheet, observing in part that, “We maintain our thesis that HPremains undervalued on FCF generation while acknowledging their preliminary comments regarding ’14 revenue (down in ’14) and cost savings potential (while saying material, leaving the amount undefined) likely will leave investors guessing ahead of the Oct 9th Analyst Day.”

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Apple Inc. (NASDAQ:AAPL): Closing price $502.96

Knowledgeable sources report that Apple is negotiating with production studios and networks through which to supply content for a television set that would emphasize applications over cable TV. Firms which have talked to Apple are Disney’s ESPN, Time Warner’s HBO, and Viacom, the owner of MTV Networks, Nickelodeon, and Comedy Central, but it remains unclear how near these deals are to fruition.

Any deal with an internet TV service such as the one envisioned by Apple will probably be under similar terms, as the networks have negotiated with the traditional cable companies. Sources say that Apple’s strategy might include the creation its own pay TV service, becoming a cable company itself — except with content delivered completely over the internet.

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InterDigital, Inc. (NASDAQ:IDCC): Closing price $36.49

On Thursday, the wireless research and development firm announced that it predicts its total third quarter revenue to total between $55 million and $56 million. The revenue guidance includes from $43 million to $44 million of current revenue, along with roughly $12 million of past sales revenue, mostly relating to past sales by Pegatron of certain products between July 1, 2012 and March 31, 2013, the royalties for which were covered by an arbitration award reported at the end of April.

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