Börsipäev 8.sept
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Nokian varatoimitusjohtaja Matti Alahuhta ja talousjohtaja Rick Simonson uskovat Nokian saavan kolmannella vuosineljänneksellä takaisin menettämiään markkinaosuuksia matkapuhelinmarkkinoilla. Simonson sanoi keskiviikkona Deutsche Bankin konferenssissa Lontoossa, että matkapuhelinten hinnanalennukset ovat purreet hyvin ja että markkinaosuus alkoi kasvaa kesäkuussa.
Simonson sanoi "voivansa paremmin", mitä tulee markkinaosuuksien nousuun.
- Tällä hetkellä olemme asiasta paljon varmempia kuin vielä kuusi viikkoa sitten, sanoi puolestaan Alahuhta, joka puhui tiistai-iltana Citigroup Smith Barneysin sijoittajatilaisuudessa. Alahuhta ei tarkentanut, kuinka paljon yhtiön tavoitteena on markkinaosuutta nostaa.
Nokian maailmanlaajuinen markkinaosuus matkapuhelimissa on tällä hetkellä hieman alle 30 prosenttia. Yhtiö on ilmoittanut ensisijaiseksi tavoitteekseen sen kasvattamisen.
Simonson kertoi lisäksi, että yhtiö harkitsee osingonjakopolitiikan "kestävää kasvua" ja että yhtiö aikoo jatkaa omien osakkeiden takaisinostoa. -
USA futuurid viitavad miinuses avanemisele. Reitingu alandamise sai Oracle (ORCL), firma, mille aktsia langustrend on üsna pikalt kestnud. Föderaalreservi juht Alan Greenspan esineb Kongressi komitee ees ning oodatakse hoiatust liialt suureks kujunenud eelarvedefitsiidi eest.
Piper Jaffa alandas Oracle (ORCL) reitingut turuneutraalsele tasemele (market perform). Rõhutati, et IT kulutuste eest vastutajate arvamus on Oracle suhtes 12 aasta madalaimas punktis. Firmale on edasise kasvu saavutamiseks seega oluline tugevdada suhteid oma klientidega.
Lennufirma Delta Airlines (DAL) avaldas 5 miljardi dollari suuruse säästuplaani, et firmat päästa. Esimese sammuna teatati 7000 töötaja koondamisest. Aktsia on eelturul kerges miinuses.
Dollar on euro vastu kergelt tugevnenud, Greenspani kõnest loodetakse toetust varasematele kinnitustele, et intressimäärade tõstmine jätkub.
Cody Willard:
The broader markets have really put on some big moves recently after a long slide earlier in the summer. In fact, both the S&P and the DJIA are slightly green for the year. Meanwhile, the Nasdaq is down and, more specifically, the semiconductor indices have been absolutely crushed this year. The SMH, for example, is now down more than 35% after closing near a 52-week low yesterday. Such indices were some of the strongest during 2003's giant rally.
One of the biggest questions at this juncture is whether the broader markets can rally (or just continue to hang in there, for that matter) when the semis are conceivably signaling an end to this economic expansion. Over the past few decades, semiconductors have permeated all facets of the economy, from consumer goods like phones, MP3 players and televisions to network switches to automobiles to PCs.
Certainly there are competitive issues in the semi world that differentiate from old-world cyclicals like 3M (MMM:NYSE) and Caterpillar (CAT:NYSE), but the earnings power of many of the biggest semi stocks are much higher than those old-world companies at peak-cycle, given the very high margins. Also, the explosive growth in handsets rendered many of these companies prisoners of too much supply as near-term saturation was reached.
Further, the 5x GDP figure that implies that these companies will feel nuances in the broader economy much more acutely than the old-world plays. Perhaps the semi indices ran too far too fast into the beginning of 2004 and they've simply come back to more reasonable levels. I certainly wasn't a buyer of these stocks back at the highs and think there's a lot of truth in the previous statement.
So, we're back to the question posed above: Can the broader markets rally (or just continue to hang in there, for that matter) when the semis are conceivably signaling an end to this economic expansion? Now that these semis have pulled back like this, I don't think so. I think this market needs their leadership. Flip side, I think continued weakness in the semis will lead to broader weakness and bigger selloffs.
We've got a little weakness indicated in the futures markets and some slow newsflow to start off the day. Let's see if volume and volatility show up for work today.
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Gapping Up
VCLK +19% (guides higher), TLAB +12% (amends merger agreement with AFCI; purchase price lowered), CBMX +11% (co and Intel to work together on the feasibility of various projects), MAMA +9.4% (files notice of intention to make a normal course issuer bid to repurchase shares), NGEN +8.3% (to merge with EBIO), IDNX +7.1% (biometric fingerprint technology selected to help secure borders of an Arab country), BSX +6% (says FDA completes inspection, no observations reported), MATK +5.1% (conf call scheduled for today), CYMI +5% (affirms Q3 guidance), TRGL +4.5% (discovers natural gas offshore Turkey), RSH +3.6% (unveils multi-year growth strategy; guides higher)..... Under $3: FMTI +24% (announces sales agreement), ISON +11% (hand-held explosive detection product passes business and technical review), EBIO +11% (to merge with NGEN).
Gapping Down
PTEK -20% (expects decline in IBM revenues), CACS -15% (guides Q3 revs lower), MCK -7.2% (guides lower), ADPT -7.1% (lowers guidance), KG -5.1% (Icahn vows to oppose MYL/KG merger), JBLU -4% (guides lower), AFCI -3.6% (merger with TLAB amended), ISRG -3.2% (Bear Stearns downgrade), MOT -2.4% (Merrill downgrade), ORCL -2% (Piper downgrade). -
Lugesin Oliver Ait'a lugu Ęterna Zentaris'e (AEZS) kohta, mis asub siin (http://www.lhv.ee/news/index.cfm?id=987050). Ęterna kohta on nüüd pikem analüüs ka LHV PRO all.
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Greenspan ütles, et majandus on kosumas lühiajalisest nõrkusest ja vahepealne nõrkus oli tingitud suures osas ka kõrgetes naftahindadest. Turg tundub sellest tuge saavat ja Nasdaq juba üle 10 punkti plussis.
Teiselt lainelt - spekulatiivsete aktsiate kuningas Taser (TASR) oli vahepeal juba 10% plussis, kuna liikus kuulujutt, et ettevõtet tahetakse üle võtta. Turu jaoks laiemalt on see hea märk - kui junk lendab, siis võib see ka kogu turu jaoks kosumist tähendada. -
LHV Pro pick Forbes Medi-Tech (FMTI) announces 3-year $24.4 mln in Sterols sales agreement
Co announced that it has secured a sterols sales agreement for US$24.4 mln over a three-year period beginning in Jan 2005. This new customer agreement is between Forbes' manufacturing joint venture, Phyto-Source LP, and a leading multinational ingredient company. For contractual reasons, the identity of the new customer and contractual terms and conditions, will not be disclosed.
+30% -
Texas Instruments (TXN) on pärast kauplemise lõppu avaldatava kvartaliaruande eel 1,55% plussis, SOX hetkeks hommikuse tõusu käest andnud.
At the start of the quarter, the communications and analog chipmaker Texas Instruments (TXN) predicted earnings of 26 to 29 cents a share and sales of $3.2 billion to $3.4 billion. Analysts expect earnings of 27 cents and sales of $3.31 billion, on average, according to Thomson First Call.
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Peale Eesti võitu kossus võiks chatis elu keema panna.
Beige book ka varsti. -
Eesti pani Hollandile ära, nüüd on järg Portugali käes, :)
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See oleks küll tore, mingipärast usun et mängivad väärikalt, loodan viiki
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Kiire pilk Texas Instruments'i (TXN) kvartaliaruandele
Sarnaselt Intel'ile langetas käibeprognoose ka suurim mobiiltelefonides kasutatavate pooljuhtide tootja - kui varasem käibeootus jäi $3,2 ja $3,44 miljardi vahele, siis nüüd langetati vahemik $3,1 ja $3,24 miljardi juurde. Siiski tundub, et turuosalised ootasid hullemat, kuna viimasel kolmel päeval hinnas pea 7% kaotanud aktsia kosus järelturul 1,65%. Firma midagi uut (ja negtiivset) ju ei pakkunud. Preemiana tõsteti ühe sendi võrra ka kasumivahemikku - kui enne oodati kasumit aktsia kohta $0,26 ja $0,29 vahele, siis nüüd prognoositakse EPSiks $0,27 kuni $0,29.
Ootustele mittevastavates käibenumbrites süüdistas Texas Instruments klientide kuhjunud varusid, millest üritatakse vabaneda. Legg Masoni analüütik Cody Acree on positiivne ning arvab, et pärast üleliigsete varude vähendamist taastub ka nõudlus pooljuhtide järele. Tema sõnul on majanduskasv liiga tugev, et pooljuhtide nõudlusega midagi tõsist juhtida saaks.
