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Stock Market & Financial Investment News

News Breaks
April 7, 2014
06:15 EDTLNVGYLenovo to acquire mobile patents from NEC Corporation
Lenovo announced that it has purchased a portfolio of patents from NEC Corporation. The portfolio consists of more than 3,800 patent families filed in numerous countries. The portfolio includes standard essential patents for 3G and LTE mobile technologies as well as patents that cover a range of features and technologies.
News For LNVGY From The Last 14 Days
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October 20, 2014
12:09 EDTLNVGYIBM hits 52 week low after earnings miss, 2015 profit target dropped
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11:10 EDTLNVGYLenovo may make $15 per share BlackBerry bid shortly, Benzinga says
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07:21 EDTLNVGYIBM sees $1.5B pretax gain related to deal with Lenovo Group
IBM (IBM) announced that on October 1 the company and Lenovo (LNVGY) completed the initial closing of the sale of IBM’s industry standard server business to Lenovo. The transition began on October 1 in countries that are part of the initial closing, which included most major markets. The transaction is expected to close later this year in most other countries which have a larger business footprint, with the remaining countries following in early 2015. The transaction price is approximately $2.1B and as consideration, IBM received $1.8B in cash, with the remaining consideration paid in Lenovo stock. IBM expects to recognize a total pre-tax gain on the sale of approximately $1.5B, which does not include associated costs related to transition and performance-based costs. Net of these charges, the gain is approximately $1.0B. Almost all of the gains will be booked in the fourth quarter of 2014, with the remaining portion expected beyond 2014, IBM stated.
06:15 EDTLNVGYLenovo cuts prices for 7- and 8-inch tablets, DigiTimes Research reports
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October 17, 2014
06:24 EDTLNVGYGlobal notebook shipments estimated at over 45M units, Digitimes Research says
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October 16, 2014
06:23 EDTLNVGYLenovo puts in orders to supply chains for new tablet products, DigiTimes says
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October 15, 2014
09:19 EDTLNVGYLenovo to establish internet-focused smart device company in China next year
Lenovo Group is announcing that it will create a new company focused on building a leading internet-based smart devices and services business in China. The company will become operational on April 1, 2015. It will operate under a separate name and brand. The objective of this move is to help Lenovo attack the fast growing consumer mobile device market in China, with a focus not only on devices, but also on software and application development and close customer engagement. Currently Lenovo has a leading smartphone business, which sells mainly through open market sales and carrier relationships. While Lenovo has and continues to strengthen its own company-branded online channels as part of its go-to-market strategy, the new company will exclusively focus on direct-to-consumer sales, marketing and product development using an internet-based business model. Effective April 1, Chen Xudong, currently president of Lenovo’s China geography and Asia Pacific – Emerging Markets, will become CEO of this new company. Tong Fuyao, currently vice president of China’s relationship business will become head of Lenovo’s China business.
07:16 EDTLNVGYLenovo CSO 'confident' in Motorola Mobility deal finalization, Bloomberg says
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06:32 EDTLNVGYTablet supply chains expect lagging orders in Q4, DigiTimes reports
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October 9, 2014
06:55 EDTLNVGYAnalyst says PC company likely to get much of HP debt, Re/code reports
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06:29 EDTLNVGYIDC: Worldwide PC shipments down 1.7% in Q3, DigiTimes reports
Worldwide PC shipments are down 1.7% with 78.5M units shipped in Q3, reports DigiTimes, citing the IDC. Shipments in the US grew 4.3% to 17.3M, with growth centered from strong momentum in te portables category. Reference Link
October 8, 2014
16:56 EDTLNVGYGartner says worldwide PC shipments in Q3 declined 0.5%
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06:13 EDTLNVGYNon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
October 6, 2014
11:02 EDTLNVGYHP rises as split viewed as potential prelude to deals
Shares of HP (HPQ) are climbing after the company announced that it would split itself into two publicly traded companies. Analysts were mostly upbeat on the news and tech news website Re/code said that the two companies would be "in deal-making mode" following the split. WHAT'S NEW: HP this morning said it would split itself into two companies by the end of its fiscal 2015. One company will include HP's technology infrastructure, software and services businesses, to be known as "Hewlett-Packard Enterprise," while the other will include the company's PC and printing businesses and be called "HP Inc." Meg Whitman, who is currently the CEO of HP, will become CEO of Hewlett-Packard Enterprise and chairman of HP, Inc. ANALYST REACTION: Shareholders will likely view the move positively, as limited synergies exist between HP's enterprise business and its PC and printing business, Deutsche Bank analyst Sherri Scribner wrote. Moreover, the forward price to earnings ratio of the enterprises unit, whose margins are set to expand, are more likely to reach close to 11x following a split, in-line with the multiple of Xerox (XRX) and CSC (CSC), the analyst contended. Noting that HP remains one of the cheapest names in the S&P 500, Scribner kept a $40 price target and Buy rating on the shares. The split is "a bold and smart move" by HP that will give it the financial flexibility needed to sell off one or both of the PC and printing businesses, wrote Cantor analyst Brian White. The shareholders of EMC (EMC), which reportedly had been in discussions about merging with HP, would have difficulty accepting HP's printer and PC business, according to White. The analyst raised his price target on HP to $39 from $34.50 but kept a Hold rating on the stock. WHAT'S NOTABLE: Both Hewlett-Packard Enterprise and HP Inc. will "be in deal-making mode" after the split, Re/code stated. HP Inc. is likely to draw attention from both Dell and China's Lenovo (LNVGY), which were both approached by HP about a possible deal over the last year, the website stated. Meanwhile, Hewlett-Packard Enterprise could restart dormant merger talks with EMC, while Dell and Cisco (CSCO) could emerge as bidders and offer shareholders of both Hewlett-Packard Enterprise and EMC better terms, Re/code stated. However, Cisco has carried out a more conservative M&A strategy lately, while its CEO, John Chambers, who is preparing to retire soon, said the company would not be interested in buying EMC, Re/code noted. PRICE ACTION: In mid-morning trading, HP jumped 4.6% to $36.83, while shares of EMC were down fractionally.
08:10 EDTLNVGYArrow Electronics says now authorized distributor of Lenovo enterprise products
Arrow Electronics (RW) announced it is now an authorized North American Lenovo distributor System X and related solutions following the transition of IBM’s (IBM) System X server business to Lenovo (LNVGY) effective Oct. 1. Additionally, Lenovo’s ThinkServer rack servers, tower servers and enterprise storage product lines are available through Arrow. Future offerings from Lenovo through Arrow will include the low-end storage and associated networking products to be announced in the coming weeks.
06:38 EDTLNVGYSpun off HP companies could be takeover targets, Re/code says
After HP (HPQ) splits into two publicly traded companies, both of those companies could become takeover targets, according to Re/code. The PC and printing unit could interest Dell or Lenovo (LNVGY), while Hewlett-Packard Enterprises could merge with EMC (EMC) and/or become a target for Dell and Cisco (CSCO), the website stated. Reference Link
06:19 EDTLNVGYHP facing competition from Lenovo in PCs, servers, WSJ reports
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