Jefferies & Co.

It’s official. Twitter has acquired internet advertising startup AdGrok , founder Matthew McEachen wrote in a blog post yesterday. AdGrok’s advertising platform simplifies the process of running internet marketing campaigns for small businesses that aren’t very familiar with the web.

More commentary is coming in as regards Nokia’ s ( NOK ) cut in its outlook this morning , with bears warning that things will get worse before they get better. It’s not just the continued deterioration of the Symbian-based phones, but also some risk still in the company’s ability to make its partnership with Microsoft ( MSFT ) pay off: Jennifer Fritzsche, Wells Fargo: Reiterates a Market Weight rating on Nokia, while cutting her range of possible stock values to $6.90 to $7.40, from a prior $9 to $10. “While NOK has continued to say that 2011 is a transition year, we believe today’s announcement highlights how quickly the shift is occurring in the competitive environment.

This is a busy week for chip and computer watchers, with the mammoth Computex trade show going on in Taiwan. For Qualcomm ( QCOM ) fans, it’s double the excitement with the company’s “ Uplinq ” conference in San Diego, taking place tomorrow and Thursday

Mobile application discovery startup Appsfire closed a $3.6 million funding round from French investors Idinvest , according to a Gigaom report. Helping consumers easily find new applications that interest them is increasingly important to developers and businesses looking to distinguish their product from competitors And considering the multitude of apps emerging from Apple’s app store , the Android Marketplace and Amazon , there is a large opportunity to make money from an app discovery platform like Appsfire. Appsfire, which is available for both iOS and Android devices, seeks to provide some clarity to the sea of new apps.

Apple made a pretty steep climb at the open following word CEO Jobs will head the company’s June 6th developer conference. Apple ( AAPL ) shares are getting a substantial lift here this morning from the announcement a little while ago that CEO Steve Jobs will help unveil “next generation software” during the company’s Worldwide Developer Conference on June 6th in San Francisco, starting at 10 am, Pacific

Straight shot down for Nokia this morning; where’s the bottom? Shares of Nokia ( NOK ) are down 90 cents, or 11%, at $7.30 $1, or 12.2%, at $7.20 $1.28, or almost 16%, at $6.91 this morning after the company this morning warned the current quarter is tracking much worse than it had expected, andsaid it could no longer off a full-year forecast, citing “multiple factors” that are “negatively impacting” its business.

Twitter may be in talks to acquire contextual keyword bidding platform AdGrok for less than $10 million, according to a TechCrunch report.

Folks, my apologies for coming late to the following: Goldman Sachs’s Simona Jankowski today reiterated a Buy rating on shares of Motorola Mobility ( MMI ), and a $34 price target, writing that the stock is undervalued based on a sum-of-the-parts analysis, and that upside in smartphone sales could boost the bottom line. On the valuation side, the handset business may be trading at only one or two times projected earnings per share, because the current stock price is almost entirely reflective of the other assets: $8 per share in deferred tax assets , $11 per share in cash , and the $3 to $4 per share that the set-top box business may be worth. (Regarding the deferred tax asset, $2.4 billion, she observes it, “is currently largely offset by a $2.3 billion valuation allowance due to MMI’s recent lack of profitability, thus it does not fully appear on the balance sheet.”) Of course, the handset business has been losing money, and the question is whether it will finally turn profitable this year

Finnish game developer Supercell has raised $12 million in funding for its hardcore real-time social gaming business. The investment shows the increasing appetite for investments in social games, especially those that hope to one-up dominant social game companies such as Zynga by providing a next-generation style of game play on platforms such as Facebook