Here are some things going on this morning in your world of tech:
Update:�Facebook shares have turned positive, rising 35 cents, or 1.4%, at $26.22 after hitting a new low of $25.52.
Shares of Facebook�(FB) are showing another instance of a curious pattern, a strong pre-market followed by a weak open despite broad strength in the broad market.
The shares were up, pre-market, by 38 cents, or 1.5%, at $26.25, but are now down 17 cents, or 0.7%, at $25.70.
In any event, the stock got another thumbs up, this time from JMP Securities’s Mark Harding, who starts the stock at Market Outperform with a $37 price target.
The news flow this morning is focused on how Nasdaq OMX may reimburse some investors, as reported late yesterday by The Wall Street Journal.
And the company is trying to fix its problem with mobile advertising, according to a piece this morning by The Wall Street Journal’s Shayndi Raice, who writes that the company is letting advertisers pay for “sponsored stories” on mobile devices without having to buy other types of ad products, to try and goose ad buyers spending.
Shares of HTC (2498TW) rose $12.50, a little over 3%, to $406 in New Taiwan dollars in Taipei trading after the company this morning said it would take a NT$2.6 billion write-down (about U.S. $87 million) to clear channel inventory, cutting its Q2 revenue outlook to $91 billion and 9% in operating margin from a prior $93.6 billion and 11.2% margin. The company said, “The revised revenue is due to lower than anticipated sales to Europe, and the delayed shipment and launch of certain products in the US.”
That revenue figure was 13% lower than what was anticipated by�Bernstein Research‘s�Pierre Ferragu, who has an Outperform rating, but he sees it as a “hiccup” on the road to recovery, writing this morning that it “is of course a blow to our expectations but doesn’t change the direction of our view: HTC continues to benefit from strong traction in the market and is recovering with its new product portfolio.”
There’s more speculation this morning on the matter of subsidies for Apple‘s (AAPL) iPhone, with Jefferies & Co.’s Peter Misek writing that shifting of subsidy dollars in the U.S. to “high-end” smartphones based on “long-term evolution” technology means that “iPhone prices to the consumer could be lower than prices for mid-range Android devices and other handsets,” in Misek’s view.
Needham & Co.’s Rajvindra Gill pounds the table on shares of Nvidia (NVDA), writing that the company may have won the GPU slots in Apple’s MacBook Pro laptops, and that the stock is especially cheap when one backs out cash.
JP Morgan‘s hardware analysts, including�Mark Moskowitz, this morning cut their IT spending outlook, mostly because of a lower outlook for servers and networking products. The firm now sees 2.2% IT spending growth globally this year, down from 3.8% expected previously. They write, “”The macro blues are back � China is the incremental risk.”
Shares of�American Superconductor�(AMSC) are down 7 cents, or 1.7%, at $3.96 after the company this morning reported fiscal Q4 revenue below consensus and a deeper-than-expected net loss, though the company pointed out that it exceeded all of its financial targets.
Nvidia shares this morning are up 15 cents, or 1.3%, at $12.22.
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