Tech Five: Saudi prince boosts Twitter stake

The investment firm of Saudi Prince Alwaleed bumped up its stake in the social network Twitter, days after the company confirmed co-founder Jack Dorsey will assume the CEO role permanently.

Let's look at tech stocks to watch Wednesday:

Twitter. Shares are up 1.6% in pre-market trading after Kingdom Holding Company announced it will increase its stake in the social media company to more than 5%, representing $1 billion in market value. The holding by Alwaleed and KHC makes them the second largest shareholders in Twitter stock. The move follows Twitter's decision to name Jack Dorsey its permanent CEO. He had held the position on an interim basis since July.

Samsung. The electronics giant forecasts its operating profit during the third quarter will surge nearly 80% compared to the same time last year. Samsung says it expects to report profit of $6.3 billion, compared to $3.5 billion last year.

Pandora. The streaming music company will acquire live events service Ticketfly for $450 million. The service lets users discover concerts nearby, purchase tickets and share their plans on social media.

Adobe. The software maker trimmed its profit forecast for next year, reports CNBC, citing impact of a stronger dollar. Shares of Adobe sunk 3.4% in pre-market trading.

Microsoft. It was a busy Tuesday for the tech giant, as it revealed several new devices during an event in New York. Among them: the company's first laptop called the Surface Book, the Lumia 950 smartphone and a revamped Surface Pro tablet.

Follow Brett Molina on Twitter: @brettmolina23.