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Stock Market & Financial Investment News

News Breaks
April 10, 2012
06:42 EDTNOK, MSFT, TAT&T store closures affect Lumina 900 debut, Seattle Times reports
Despite a massive campaign to push the new Nokia (NOK) Lumia 900, its sales debut was hurt by many AT&T (T) store closures for Easter, according to The Seattle Times. Reference Link
News For NOK;MSFT;T From The Last 14 Days
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August 19, 2014
11:25 EDTMSFTHTC unveils the HTC One for Windows
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10:01 EDTTAT&T confirms plan to deliver U-verse with AT&T GigaPower in Jacksonville
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07:12 EDTTFCC looks into telecom special access line rates, Reuters says
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06:46 EDTTAT&T technology routes calls to multiple devices, Re/code says
AT&T has developed technology that sends calls from one device to many other devices, Re/code reported yesterday. Reference Link
August 18, 2014
18:33 EDTTSprint introduces Sprint Family Share Pack data plan, doubles high-speed data
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13:12 EDTMSFTMicrosoft getting ready to launch Chromebook challengers, 9to5Google says
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08:47 EDTTRaymond James to hold a summit
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August 15, 2014
09:39 EDTMSFTNPD: Sony's PS4 beats out Xbox One in July, BGR reports
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06:15 EDTTSprint's new CEO to introduce 'disruptive' prices next week, Re/code reports
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August 14, 2014
18:04 EDTNOK, MSFTInterDigital loses patent case against Nokia, ZTE, Bloomberg reports
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17:00 EDTNOKGreenlight Capital gives quarterly update on stakes
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13:56 EDTNOKVodafone selects Nokia Networks to launch LTE network in New Zealand
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09:07 EDTTMorgan Stanley to hold a conference
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August 13, 2014
14:54 EDTMSFTEarnings Preview: Cisco reports following Deutsche upgrade, Pac Crest downgrade
Cisco Systems (CSCO) is scheduled to report fourth quarter results after the market close on Wednesday, August 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.14B, according to First Call. The consensus range for EPS is 51c-54c on revenue of $11.8B-$12.25B. Along with its last quarterly report, Cisco guided to Q4 adjusted EPS of 51c-53c and said it expects its revenue to be down 1% to 3% in the quarter compared to the prior year. At that time, the company also said it sees its FY14 adjusted EPS to come in at the higher end of its previously communicated $1.95-$2.05 range. LAST QUARTER: On May 14, Cisco reported third quarter adjusted EPS of 51c, beating the consensus analyst forecast of 48c. It's revenue came in at $11.5B, topping the $11.38B consensus forecast. Cisco reported a Q3 adjusted gross margin of about 62.7%. NEWS: On June 17, Cisco announced its intent to acquire privately held Tail-f Systems, whose products help service providers and enterprise IT organizations easily and cost-effectively implement applications, network services and solutions across networking devices. Upon completion of the acquisition, which is expected to be complete in Q4, Tail-f employees will join Cisco's Cloud and Virtualization Group. About two weeks later, tech blog Gigaom reported that Cisco has acquired British firm Assemblage for technology that uses real-time collaboration that does not require the user to download programs or plug-ins. On July 15, Cisco announced a multi-year sales and go-to-market agreement with Microsoft (MSFT) designed to modernize data centers through the delivery and acceleration of integrated solutions. Cisco and Microsoft will both invest in sales, marketing and engineering resources to drive global alignment, while delivering deeper technology integration across cloud and data center markets, the companies stated. STREET RESEARCH: On May 21, Northland said that after speaking with Cisco's management and attending Cisco Live, the firm believed that the company is taking share form Arista Networks (ANET), which has since come public. The firm added that it did not believe that Juniper (JNPR) has gained traction in data center switching and it recommended Cisco as a cyclical recovery play and a relative bargain to peers. About a week later, Deutsche Bank upgraded its rating on Cisco shares to Buy from Hold, citing expectations that the company's new product ramps in FY15 and FY16 will be stronger than expected. Deutsche said then that it saw upside to consensus estimates and raised its price target for Cisco shares to $30 from $25. On July 28, Pacific Crest downgraded its rating on Cisco shares to Sector Perform from Outperform, citing valuation and concern that the company's margin expansion could moderate in 2015. The firm believes Cisco shares are fairly valued at $26. Less than a week ago, Morgan Stanley said its checks indicate the enterprise market is improving. The firm said it expects Cisco's outlook to be conservative and said concerns over rapid software-defined networking adoption and margin impact are overblown. Morgan Stanley has an Overweight rating with a $30 price target on Cisco. PRICE ACTION: In the last three months, Cisco has advanced about 9.5%. In afternoon trading ahead of tonight's report, Cisco shares are down 0.5% to $25.01.
11:27 EDTTJDSU falls after outlook disappoints, analyst downgrades
Shares of JDSU (JDSU), a provider of equipment to telecommunications service providers, are sharply lower after the company's fourth quarter results and first quarter guidance were reported last night. Following the report, the stock was downgraded this morning at two Street research firms. WHAT'S NEW: Last night, JDSU reported fourth quarter adjusted earnings of 14c per share, beating the consensus forecast by 1c, on revenue of $448.6M, which topped the consensus $436.8M view. However, JDSU expects revenue to be $405M-$425M in its first quarter and sees Q1 EPS of 8c-12c, which fell short of consensus of about $441M and 14c, respectively. JDSU's President and CEO Tom Waechter said, "Looking ahead to fiscal 2015, we believe there are strong market drivers across our three business segments, and that we are well positioned with differentiated products and solutions to support our customers as they transition to Software Defined Networks, Network Function Virtualization and more dependency on cloud infrastructure. We continue to lead in our core network and anti-counterfeiting markets and I am pleased with the momentum we are building in our commercial lasers business on the strength of our highly differentiated fiber laser product line." ANALYST OPINION: Following the company's report, B. Riley analyst Dave Kang cut his rating on JDSU shares to Neutral from a Buy rating, citing near-term uncertainties in the North American telecom market. Kang pointed to two events contributing to that uncertainty, namely an architectural shift to SDN, or Software Defined Networking, and AT&T's (T) planned merger with DirecTV (DTV). The analyst acknowledged previously underestimating the potential impact of the SDN shift on the telecom equipment industry and noted that appears to be impacting JDSU's NSE business more than its optical component unit. Kang prefers Finisar (FNSR) over JDSU given the current environment, noting that about 70% of Finisar's sales come from the datacom sector. Kang lowered his price target on JDS Uniphase shares to $11.75 from $15.50. Piper Jaffray analyst Troy Jensen also downgraded JDSU following its report, lowering his rating on the stock to Neutral from Overweight. Jensen also said the company's worse than expected guidance indicates softer Telco spending and he believes JDSU will have trouble showing significant revenue acceleration even if the optical upgrade cycle starts to ramp up. Piper lowered its price target on the stock to $12 from $14. OTHERS TO WATCH: Other providers of telecom equipment include Ciena (CIEN) and Infinera (INFN). PRICE ACTION: In morning trading, shares of JDSU fell $1.12, or 9.4%, to $10.78. Meanwhile, shares of Finisar were down nearly 2% to $19.58, Ciena slipped 1.5% to $18.92 and Infinera was fractionally higher at $9.09.
August 12, 2014
14:55 EDTTFrontier Communications confirms settlement with Connecticut AG over AT&T deal
Frontier Communications (FTR) announced it has reached an agreement with the Connecticut Attorney General and the Office of Consumer Counsel related to Frontierís proposed acquisition of AT&T's (T) incumbent local exchange operations and statewide fiber network that provides services to residential, commercial and wholesale customers in Connecticut. As part of the transaction, Frontier will also acquire AT&T's U-verse video and satellite TV operations in Connecticut. Highlights of the agreement state that for a period of not less than 36 months after the closing of the transaction (i) there will be no increases in the basic primary residential rate in effect for transferred exchanges as of the closing date; and (ii) where available, Frontier has agreed to offer its basic broadband and stand-alone basic broadband product at or below Frontierís current prices. In addition, Frontier has committed to incremental capital investments totaling $63M over 2015, 2016 and 2017 to expand and improve broadband in Connecticut.
13:19 EDTMSFTSony says 10M PS4 consoles have been sold since launch, TechCrunch reports
Sony has sold 10M units of the PlayStation 4 consoles to consumers since its launch last year, TechCrunch reports, citing comments made by Sony Computer Entertainment Europe CEO Jim Ryan at Gamescom 2014. Reference Link
August 11, 2014
15:45 EDTTSpherix subsidiary settles with AT&T, files joint motion to dismiss
Spherix (SPEX) subsidiary Guidance IP has reached a settlement with AT&T (T), according to a court document filed August 7 in the U.S. District Court for the Northern District of Texas. The settlement stems from a lawsuit filed on December 6, 2013 by Spherix for infringement of its patent entitled, "System and Method for Determining the Geolocation of a Transmitter." Shares of small-cap Spherix are up 19% to $1.75 in later afternoon trading following the circulation of the court filing. Reference Link
15:19 EDTMSFTMicrosoft schedules event likely focused on Lumia phones, WMPoweruser says
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06:35 EDTMSFTMicrosoft Devices unveils low-cost Nokia 130 phone
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