—Nokia (NYSE: NOK) downgraded: Credit rating agency Moody’s has downgraded its outlook on Nokia to “negative” from “stable” citing the cellphone maker’s poor Q1 earnings and gloomy forecast for the rest of the year, Reuters reports. Moody’s said it was particularly worried that the slump in cellphone sales wasn’t just a result of “transitory, cyclical factors” but that the dreaded “market saturation” had set in. More at mocoNews.net.

—Google (NSDQ: GOOG) Product Search for Android and iPhone: Google has rolled out a mobile version of its Google Product Search service for the iPhone and Android-based phones which allows users to check product ratings and reviews on their cellphones. The mobile service is available in the US and the UK. Read more at Google’s mobile blog.

—Buongiorno (BIT: BNG) launches social net aggregator: Mobile content company Buongiorno has rolled out HelloTxt, a status update aggregator for the social media market. It allows users to send and read status updates across all the main microblogs and social networks simultaneously. HelloTxt aggregates over 45 social networks and microblogs including Facebook, Twitter, MySpace, Bebo, and its own peoplesound, while users on average aggregate four. The aggregator has amassed 30,000 registered users since its beta launch ten months ago.