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Media Digest (4/29/2013) Reuters, WSJ, NYT, FT, Bloomberg

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By 24/7 Wall St.

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The form of taxation that is applied to a Verizon Communications Inc. (NYSE: VZ) buyout of the 45% of Verizon Wireless that Vodafone Group PLC (NASDAQ: VOD) owns may decide the deal. (Reuters)

The global economy continues to rely on central bank aide to prop up gross domestic product. (Reuters)

China’s move to 4G will give some equipment suppliers huge contracts. (Reuters)

Tough European sales may start to badly damage U.S. corporate earnings. (WSJ)

The government blocks cash payouts to some General Motors Co. (NYSE: GM) executives. (WSJ)

The number of people in the U.S. looking for jobs fell to its lowest level since 1979 because of retiring baby boomers. (WSJ)

Fred Hassan leaves as the chairman of Avon Product Inc.’s (NYSE: AVP) board. (WSJ)

A move to dividend-paying stocks may be causing their prices to move too high. (WSJ)

More Republican members of Congress will support a tax on online sales. (NYT)

Cable firm AXS TV will start to run programming from AOL Inc.’s (NYSE: AOL) HuffPo Live. (NYT)

Passengers may well shy away from flying the Boeing Co. (NYSE: BA) 787, which recently fixed battery problems. (NYT)

Chat applications will continue to hurt revenue from texts, which have helped telecom earnings. (FT)

More Europeans may modify their positions on the value of austerity. (Bloomberg)

Nokia Corp. (NYSE: NOK) ups its commitment to $20 phones as it loses market share to smartphones from Apple Inc. (NASDAQ: AAPL) and Samsung. (Bloomberg)

Filed under: 24/7 Wall St. Wire, Press Digest Tagged: AAPL, AOL, AVP, BA, GM, NOK, VOD, VZ

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Google Targeted in European Antitrust Complaint Led by Microsoft

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By The Associated Press

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Philippe Wojazer/AP Google CEO Eric Schmidt, left, and French President Francois Hollande sign an agreement at the Elysee Palace in Paris on Feb. 1. On Tuesday, more than a dozen technology companies filed a complaint against Google, alleging unfair trade practices in Europe.

By JUERGEN BAETZ

BRUSSELS — Google is using unfair practices to cement its control over mobile Internet usage on smartphones, a group of companies led by Microsoft alleged in a European antitrust complaint Tuesday.

The “FairSearch” initiative of 17 companies — which includes Microsoft Corp. (MSFT), Nokia Corp. (NOK) and Oracle Corp. (ORCL) — claims Google is acting unfairly by giving away its Android operating system to mobile device companies on the condition that the U.S. online giant’s own software applications like YouTube and Google Maps are installed and prominently displayed.

“Google is using its Android mobile operating system as a Trojan horse to deceive partners, monopolize the mobile marketplace, and control consumer data,” said Thomas Vinje, the group’s Brussels-based lawyer.

Android operating systems have the largest share of the smartphone market worldwide, followed by Apple Inc.’s (AAPL) iOS platform with systems from Blackberry (BBRY), Microsoft and others far behind.

“Google’s predatory distribution of Android at below-cost makes it difficult for other providers of operating systems to recoup investments in competing with Google’s dominant mobile platform,” FairSearch said in a statement.

The European Commission, the 27-nation bloc’s executive arm and antitrust authority, is not obliged to take any action other than reply to the group’s complaint.

Google Inc. (GOOG) didn’t address the complaint’s charges in detail. “We continue to work cooperatively with the European Commission,” said Google spokesman Al Verney.

The U.S. company is already under investigation by Brussels for practices related to its dominance of online search and advertising markets.

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That complaint, filed in 2010, alleges Google unfairly favors its own services in its Internet search results, which enjoy a near-monopoly in Europe. Google has proposed a list of remedies to address the Commission’s concerns to achieve a settlement. The Commission is currently examining the proposed changes.

In China, Google has already come under official scrutiny because of Android’s dominance of the mobile smartphone market there.

Several European data privacy regulators have also launched an investigation into Google’s practices, alleging the company is creating a data goldmine at the expense of unwitting users.

Last year, the company merged 60 separate privacy policies from around the world into one universal procedure. The European authorities complain that the new policy doesn’t allow users to figure out which information is kept, how it is combined by Google services or how long the company retains it.

The policy allows Google to combine data collected from one person as they use …read more

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24/7 Wall St. Closing Bell — March 18, 2013: Markets Slide on Cyprus Woes (KMB, VZ, RGLD, ACI, HPQ, SYNM, CLSN, HSOL, HAST, KIOR, FF, SBLK, FDS, CTAS, GLUU, JCP, NOK, BBRY)

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By 24/7 Wall St.

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U.S. equity markets opened lower this morning following a weekend of confusion over the proposed solution to the banking problem in Cyprus. It’s not that Cyprus claims a particularly large banking system, but the proposed haircut for their depositors makes depositors everywhere wary (more coverage here). The Cypriot banking mess chilled markets in Asia and Europe today as well. There was little data released today, but the eurozone trade deficit came in higher than forecast and in China, house prices rose 2.1% month-over-month. In the U.S. the National Association of Home Builders index fell again in March, the second straight month of decline (more coverage here). U.S. financial stocks performed poorly today, while tech stocks posted a gain as speculation abounded that Apple Inc. (NASDAQ: AAPL) would seriously boost its dividend.

The U.S. dollar index rose 0.48% today, now at 82.654. The GSCI commodity index is up 0.4% at 652.50, with commodities prices mostly lower today on the stronger dollar. WTI crude oil closed up 0.3% today, at $93.74 a barrel. Brent crude trades down 0.2% at $109.57 a barrel. Natural gas is down 0.1% today at about $3.87 per million BTUs. Gold settled up 0.8% today at $1,604.60 an ounce, its first close above $1,600 this month.

The unofficial closing bells put the DJIA down about 62 points to 14,452.06 (-0.43%), the NASDAQ fell more than 11 points (-0.35%) to 3,237.59, and the S&P 500 fell -0.55% or nearly 9 points to 1,552.10.

There were a several analyst upgrades and downgrades today, including Kimberly-Clark Corp. (NYSE: KMB) cut to ‘sell’ at Goldman Sachs; Verizon Communications Inc. (NYSE: VZ) raised to ‘buy’ at Citigroup (more coverage here); Royal Gold Inc. (NASDAQ: RGLD) started as ‘buy’ at BB&T; Arch Coal Inc. (NYSE: ACI) raised to ‘neutral’ at Nomura; and Hewlett-Packard Co. (NYSE: HPQ) raised to ‘overweight’ at Morgan Stanley.

Earnings reports since markets closed last Friday resulted in several price moves today, including these: Syntroleum Corp. (NASDAQ: SYNM) is down 12.3% at $0.40; Celsion Corp. (NASDAQ: CLSN) is up 1.9% at $1.08; Hanwha Solarone Co. Ltd. (NASDAQ: HSOL) is up 5.7% at $0.93; Hastings Entertainment Inc. (NASDAQ: HAST) is down 4.4% at $2.17; and Kior Inc. (NASDAQ: KIOR) is down 0.9% at $5.76.

Before markets open tomorrow morning we are scheduled to hear from FutureFuel Corp. (NYSE: FF), Star Bulk Carriers Corp. (NASDAQ: SBLK), FactSet Research Systems Inc. (NYSE: FDS), and Cintas Corp. (NASDAQ: CTAS).

Some standouts among heavily traded stocks today include:

Glu Mobile Inc. (NASDAQ: GLUU) is up 11.1% at $3.71. The mobile games developer has been upgraded by several analysts.

J.C. Penney Co. Inc. (NYSE: JCP) is up 6.6% at $16.50. The beleaguered retailer gets a boost today from an analyst’s plan to convert some of the company’s stores to a REIT.

Nokia Corp. (NYSE: NOK) is down 2.3% at $3.35. The handset maker is declining as the U.S. release of the new smartphone from BlackBerry (NASDAQ: BBRY) approaches later this week..

Stay tuned for Tuesday. The Federal Open Market Committee (FOMC) begins its …read more
Source: FULL ARTICLE at DailyFinance

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Short Interest Wanes in Some Big Stocks (GE, NOK, BAC, VZ, ANR, MCD, AAPL, RIMM, MSFT, DELL, GMCR, CSCO)

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By 24/7 Wall St.

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We have tracked the key short interest changes as of February 15 in the following large cap stocks: General Electric Co. (NYSE: GE), Nokia Corp. (NYSE: NOK), Bank of America Corp. (NYSE: BAC), Verizon Communications Inc. (NYSE: VZ), Alpha Natural Resources Inc. (NYSE: ANR), McDonald’s Corp. (NYSE: MCD), Apple Inc. (NASDAQ: AAPL), Research in Motion, Microsoft Corp. (NASDAQ: MSFT), Dell Inc. (NASDAQ: DELL), Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) and Cisco Systems Inc. (NASDAQ: CSCO).

General Electric Co. (NYSE: GE) short interest rose 6.4% to 77.96 million shares. About 0.7% of GE’s float is now short.

Nokia Corp. (NYSE: NOK) saw short interest fall by 2.7% to 330.97 million shares, about 8.8% of the company’s total float.

Bank of America Corp. (NYSE: BAC) short interest rise 10.3% to 166 million shares, which represents 1.5% of the company’s float.

Verizon Communications Inc. (NYSE: VZ) saw a 3.8% rise in short interest to 47.05 million shares, which represents about 1.6% of the firm’s float.

Alpha Natural Resources Inc. (NYSE: ANR) showed a rise of 3.6% in short interest, to 33.13 million shares, about 15.2% of Alpha’s float.

McDonald’s Corp. (NYSE: MCD) showed a rise of 12.5% in short interest, to 13.92 million shares, about 1.4% of the company’s float.

Apple Inc. (NASDAQ: AAPL) saw a short interest fall by 0.4% to 18.78 million shares, or 2% of the company’s float.

Research In Motion changed its name to BlackBerry (NASDAQ: BBRY) on January 30, and short interest for this period was reported under the old name and ticker symbol RIMM. It saw short interest rise by 5.4% to 136.51 million shares, or 27.6% of the total float.

Microsoft Corp. (NASDAQ: MSFT) posted a 4.4% rise in short interest, to 83.58 million shares, about 1.1% of Microsoft’s float.

Dell Inc. (NASDAQ: DELL) short interest fall by 30.1%, to 28.73 million shares or about 2% of the company’s float.

Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) saw short interest increase by 13.9% to 30.89 million shares or 25.4% of the company’s float.

Cisco Systems Inc. (NASDAQ: CSCO) saw short interest fall by 3% to 55.11 million shares or about 1% of the company’s float.

Short interest in Dell has declined dramatically again following the buyout offer from Michael Dell and his partners. The rise in BlackBerry’s share price has brought more short interest because few people really believe the new smartphones will make much of dent in the armor of Apple, Google Inc. (NASDAQ: GOOG) or Samsung. GE’s rise in short interest is likely due to investors’ belief that the stock is fully valued and prospects are dimming as the global economy continues its slow motion recovery.

Filed under: 24/7 Wall St. Wire, Large Cap Stocks, Short Interest Tagged: AAPL, ANR, BAC, CSCO, DELL, GE, GMCR, GOOG, MCD, MSFT, NOK, RIMM, VZ

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The Long Awaited Turnaround at Ericsson Appears to Be Underway (ERIC, GS, CS, C, DB, STM, NOK, ALU)

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By 24/7 Wall St.

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global network conceptWhen you are an industry leader and one of the largest companies in the country of Sweden, employing more than 100,000 workers, it seems almost impossible that a turnaround would ever be necessary. However, it is not uncommon for large corporations to stray from the path that brought them their greatest success. For telecommunications equipment giant Ericsson (NASDAQ: ERIC), the path back to success may be one that got them there in the first place.

Posting extremely strong fourth-quarter numbers that were driven by high demand for networking equipment in the U.S. market, Ericsson blew by the Wall St. expectations. Sales for the quarter were 66.9 billion SEK, up 23% sequentially and up 5% from the year-ago quarter. Network equipment sales were up 6% from a year ago, driven mainly by North America, while network sales were up 31% sequentially due to normal year-end seasonality. The results translate to $10.5 billion in U.S. currency, which is well ahead of the consensus estimate of $9.5 billion.

CEO Hans Vestberg said in a statement:

Segments showed mixed developments during the year with strong growth in Global Services and Support Solutions, while Networks had a more challenging year. Support Solutions went from losses in 2011 into profitability and together with Global Services represented close to 50% of Group sales in 2012, compared to 42% in 2011.

Vestberg also said that North America was the company’s strongest market throughout 2012 and was driven by continued mobile broadband investments and demand for services. What is so impressive about things of late is that Ericsson has much exposure to Europe, the most troubled spot in the developed world for investors weighing risk these days.

Wall St. analysts embraced the earnings rebound and responded with a flurry of upgrades. On February 1, Goldman Sachs Group Inc. (NYSE: GS) upgraded the stock from Neutral to the prized Conviction Buy List. Credit Suisse Group (NYSE: CS) moved its rating to Neutral from Underperform on the same day. Canaccord Genuity and Citigroup Inc. (NYSE: C) both raised their price targets on the first, following Deutsche Bank A.G. (NYSE: DB) raising the stock to Buy from Hold on January 29. The current consensus price target for the stock is $11.50. Given the recent upgrades, that may soon be lifted.

One very positive development for the company may be a departure from its money-losing joint venture with STMicroelectronics N.V. (NYSE: STM), the largest European semiconductor company. While it recognized a large charge for its participation, an expected third-quarter 2013 exit will let the company focus on the profitable core businesses.

The Ericsson turnaround may start to get investors looking at two other formerly dominate European companies fighting to regain lost glory. Both Finnish phone giant Nokia Corp. (NYSE: NOK) and French telecommunications equipment maker Alcatel-Lucent S.A. (NYSE: ALU) are trading under $5. Despite industry problems and a loss of market share for both companies, the low stock prices alone could make one or both of them takeover targets if a bottom-fishing turnaround or asset buyer surfaces.

For Ericsson the strength in North America may continue to provide a strong tailwind. With smartphone and tablet sales booming and an ever increasing demand for broadband consuming content, it may be in the right place at the right time to complete its turnaround. Wall St. analysts have at least become very vocal with a wave of upgrades in the Ericsson turnaround story.

Filed under: 24/7 Wall St. Wire, Technology, Technology Companies, Telecom, Telecom & Wireless, Turnarounds, Value Investing Tagged: ALU, C, CS, DB, ERIC, GS, NOK, STM

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