Tech Stock Roundup: Apple STALLS Kodak Dispute, Google I/O Conference on Deck
Exploding smartphones? Samsung (SSNLF.PK) is looking into a Galaxy S3 user’s story that claims the device, which was mounted in a car, overheated and caused “white flame, sparks and a bang” which melting the phone inside and out. Later, the used admitted that the mount could have been faulty, as well as the vehicle’s heating system.
Social gaming leader Zynga (NASDAQ:ZNGA) shares rebound following Lazard’s defense, which is the most recent analyst to do so lately. It’s expected that Zynga’s new titles Ruby Blast and Bubble Safari will ignite a pickup in usage, although it’s likely that these titles won’t bring as much revenue as earlier hits. However, Lizard also believes that user acquisition costs will be lower, and that Zynga will be able to cross-promote more profitable titles to the games’ users.
Don’t Miss: Zynga Has BIG Plans For China.
Universal Display (NASDAQ:PANL) shares move up, following Vishal Shah at Deutsche Bank beginning coverage with a Buy and a price target of $45, thinking that new licensing agreements such as LG, increasing organic light-admitting diode adoption in the mobile device and TV markets, the production of blue OLED emitters, and the OLED lighting market’s potential are all positive catalysts. The analyst forecasts that pressure on prices for PANL’s materials should remain low as well.
Shares of First Solar (NASDAQ:FSLR) jump subsequent to word that it has reached a deal with the Los Angeles Country Department of Public Works regarding the installation of solar modules at a delayed Antelope Valley project. The company predicts the arrangement will result in the creation of a 230 megawatt solar plant that will be completed next year. FSLR shares are up 38 percent from its June 4th low, but 2012 is still not its best year.
Apple (NASDAQ:AAPL) attorneys continue to try to stall for time in the company’s patent infringement dispute with Eastman Kodak (EKDKQ.PK), as on Thursday they requested a judge to have bankrupt Kodak’s suit heard by a jury in a federal district court, rather than by a judge in a federal bankruptcy court. Such a ruling might undo Kodak’s plans to auction its patent portfolio in early August. Kodak is suing Apple for allegedly attempting to interfere with the sale of its patents.
Don’t Miss: Is Apple’s HDTV Ready for Production?
Shares of insurance software provider Ebix (NASDAQ:EBIX) jump almost 10 percent, following the news that it has inked a contract with an unnamed “U.S. mutual insurance company”, under which it will supply its Ebix Advantage cloud software platform, which will handle policy administration, billing, plus other back-end tasks.
Next week’s Google (NASDAQ:GOOG) I/O conference may see the intro of its new cloud infrastructure platform, says a source to GigaOm. Expectations are that the service will result in more competition with Microsoft’s (NASDAQ:MSFT) Azure than Amazon Web Services (NASDAQ:AMZN), which is enormously popular with Internet companies, but MSFT has more of a concentration in enterprise and application development. Other Google targts might be Rackspace (NYSE:RAX) and its OpenStack platform. Google is getting in late, but many growth opportunities remain.
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