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February 25, 2013
Mobile World Congress 2013 is being held in Barcelona, Spain on February 25-28.
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November 16, 2015
09:00 EDTTITelecom Italia management to meet with JPMorgan
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07:36 EDTT, GMBerkshire Hathaway discloses new AT&T stake in quarterly update
Berkshire Hathaway gave a quarterly update on its stakes in a filing this morning. NEW STAKES: AT&T (T), Kraft Heinz (KHC), Liberty Lilac Group (LILA). INCREASED STAKES: Phillips 66 (PSX), Charter (CHTR), Liberty Media (LMCK), Suncor (SU), General Motors (GM). DECREASED STAKES: Goldman Sachs (GS), Wal-Mart (WMT), Deere (DE), Chicago Bridge & Iron (CBI), WABCO (WBC). LIQUIDATED STAKES: Viacom (VIAB).
05:26 EDTERICEricsson CEO says no talks with Cisco about merger or acquisition
Ericsson (ERIC) has noted the recent speculation in the press and financial markets regarding an interest by Cisco (CSCO) to acquire Ericsson. On November 9, the two companies announced a global business and technology partnership to create the networks of the future. The partnership announcement was supported by multiple agreements that include commitments to network transformation through reference architectures and joint development, systems-based management and control, a broad reseller agreement, and collaboration in key emerging market segments. President, CEO and member of the board, Hans Vestberg says: "We note that there are rumors in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies. The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition."
November 15, 2015
19:57 EDTTIVivendi seeks to appoint four directors to Telecom Italia board
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17:25 EDTGMUAW union in talks with General Motors regarding proposed agreement
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November 13, 2015
17:22 EDTERICCisco refutes report of interest in buying Ericsson, Bloomberg says
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16:40 EDTGMAppaloosa gives quarterly update on stakes
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15:46 EDTERICCisco rejects Ericsson takeover speculation, Bloomberg says
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15:21 EDTERICDagens Industri says Cisco seeking to buy Ericsson, Bloomberg reports
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12:34 EDTGMCaterpillar, General Motors, Altria Group are market beaters, Barron's says
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07:29 EDTERICCisco results can still improve, says Wells Fargo
After Cisco (CSCO) provided weaker than expected Q2 guidance, Wells Fargo still thinks the company's results can improve in 2H15 and 2016, partly due to improvements in switching, E-rate tailwinds, and the recovery of slipped routing deals and contributions from new partnerships with Ericsson (ERIC) and Inspur. Wells keeps an Outperform rating on Cisco.
November 12, 2015
19:41 EDTTAT&T, Verizon ask FCC to limit Charter/Time Warner Cable merger, Bloomberg says
A trade group for AT&T (T) and Verizon (VZ) petitioned the FCC to limit Charter's (CHTR) coordination with other cable companies if the merger with Time Warner Cable (TWC) is allowed to proceed, reports Bloomberg. USTelecom also asked the FCC for restrictions on John Malone, Charter's largest shareholder. Reference Link
15:09 EDTTIVivendi plans to nominate three Telecom Italia board members, WSJ says
Vivendi (VIVHY) plans to nominate three candidates to the board of directors of Telecom Italia (TI), reports the Wall Street Journal, citing a source. The company is expected to submit the nominations at a December 15 shareholder meeting, the source noted. Reference Link
13:24 EDTTITelecom Italia open to merger, sale of Brazilian mobile unit, Reuters says
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13:24 EDTERICEarnings Watch: Cisco seeks to break out of trading rut with Q1 report
Cisco Systems (CSCO) is scheduled to report results of its fiscal first quarter after the market close on Thursday, November 12 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 56c on revenue of $12.65B, according to First Call. The consensus range for EPS is 55c-59c on revenue of $12.55B-$12.81B. Along with its quarterly report, Cisco guided to Q1 EPS of 55c-57c and said it expects its revenue to increase 2%-4% year over year. LAST QUARTER: On August 12, Cisco reported fourth quarter EPS of 59c on revenue of $12.8B, beating consensus estimates of 56c and $12.65B for EPS and revenue, respectively. NEWS: On its Q4 earnings conference call, Cisco said that it was looking at acquisitions at the right price, particularly in areas like software and security. On August 31, Apple (AAPL) and Cisco announced a partnership to build a "fast lane" for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone with Cisco enterprise environments and providing unique collaboration on iPhone and iPad. The next day, Cisco was among multiple other companies, including Amazon (AMZN), Google (GOOG), Intel (INTC), Microsoft (MSFT), Mozilla, and Netflix (NFLX), announcing the formation of the Alliance for Open Media to build next-generation media formats, codecs, and technologies in the public interest. On September 3, Business Insider reported that people at Cisco still though that chairman John Chambers was running the show as chief executive officer after appointing Chuck Robbins to that role last May. On September 15, Mandiant, a FireEye (FEYE) subsidiary, said in a blog post that researchers discovered previously unknown attacks on certain routers and that such attacks replace the operating system used in Cisco equipment. About a week later, the Wall Street Journal reported that Cisco was aiming to strengthen its business in China by joining forces with Inspur group, a move which was confirmed on September 24. On October 29, Cisco announced its intention to acquire 1 Mainstream. CNBC later reported that the company paid $100M-$150M to acquire 1 Mainstream. On November 9, Ericsson (ERIC) and Cisco announced a global business and technology partnership to "create the networks of the future." The companies said that the strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1B or more for each by 2018. STREET RESEARCH: On August 17, Morgan Stanley downgraded Cisco to Equal Weight from Overweight and maintained a $30 price target on the stock, saying it did not believe improved growth is "secular" and anticipates growth will revert to GDP like levels as the upgrade cycle concludes. Wells Fargo said on August 28 that a 10% selloff in communication tech stocks, including Cisco, had created an attractive buying opportunity. Bernstein said a week later that Cisco, Juniper (JNPR), and F5 Networks (FFIV) should be bought on wider macro economic weakness. On October 6, Citi initiated coverage of Cisco with a Buy rating and $30 price target. A week later, Barclays initiated coverage of Cisco with an Overweight rating and a $32 price target. On November 9, RBC Capital maintained an Outperform rating and $33 price target on Cisco, saying it expects the company to report slightly better than expected results. The next day, SunTrust maintained a Buy rating on Cisco, saying its partnership with Ericsson was a positive and should strengthen Cisco's service provider business. PRICE ACTION: In afternoon trading ahead of tonight's report, Cisco shares were up 0.5% to $27.97. In the last three months, Cisco shares are fractionally higher and virtually unchanged when discounting this afternoon's slight rise.
12:41 EDTGMGM preparing to sell Chinese-made Buick in the U.S., WSJ reports
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10:00 EDTDOXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 51job (JOBS) downgraded to Neutral from Buy at Citi... Amdocs (DOX) downgraded to Equal Weight from Overweight at Barclays... Anadarko (APC) downgraded to Accumulate from Buy at Tudor Pickering... Axiom says SunEdison (SUNE) credibility 'impaired,' cuts to Sell... BBVA Banco Frances (BFR) downgraded to Market Perform at Raymond James... Black Diamond Group (BDIMF) downgraded to Outperform from Strong Buy at Raymond James... CACI (CACI) downgraded to Hold from Buy at Noble Financial... Cimarex Energy (XEC) downgraded to Equal Weight from Overweight at Stephens... Crown Holdings (CCK) downgraded to Market Perform from Outperform at Wells Fargo... Energias de Portugal (EDPFY) downgraded to Hold from Buy at HSBC... Enterprise Financial Services (EFSC) downgraded to Neutral from Buy at DA Davidson... Freshpet (FRPT) downgraded to Neutral from Outperform at Credit Suisse... Hanover Insurance (THG) downgraded to Neutral from Overweight at Piper Jaffray... Kayne Anderson (KED) downgraded to Hold from Buy at Stifel... MAM Software (MAMS) downgraded to Neutral from Buy at B. Riley... Man Group (MNGPY) downgraded to Sector Perform from Outperform at RBC Capital... PDC Energy (PDCE) downgraded to Equal Weight from Overweight at Stephens... Parsley Energy (PE) downgraded to Sector Perform from Outperform at Iberia... Quanta Services (PWR) downgraded to Neutral from Outperform at Baird... Santander Brasil (BSBR) downgraded to Underweight from Neutral at JPMorgan... SeaWorld (SEAS) downgraded to Underperform at BofA/Merrill... SunEdison (SUNE) downgraded to Sell from Neutral at Axiom... UniCredit (UNCFF) downgraded to Market Perform from Outperform at Keefe Bruyette... VF Corp. (VFC) downgraded on negative outlook, valuation at Sterne Agee CRT.
06:49 EDTQCOMQualcomm share loss at Samsung worse than expected, says JPMorgan
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06:43 EDTGMGM to build fuel cell vehicle for U.S. Army, Automotive News says
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05:26 EDTDOXAmdocs downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Tavy Rosner downgraded Amdocs to Equal Weight citing a lack of near-term catalysts and a the 29% rise in shares year-to-date. The analyst notes management pointed to a slowdown of discretionary investment decisions on its post-earnings conference call. Rosner keeps a $60 price target for shares.
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