AMD to Sell Austin Campus and 4 Hot Stocks Seeing Action Today
Nokia (NYSE:NOK) has filed a petition at the US District Court in San Jose seeking enforcement of an arbitration award that held Research in Motion (RIM) was not entitled to sell or manufacture products with wireless LAN functionality unless it had agreed with Nokia the amount of royalties payable to the latter. It is Nokia’s contention that RIM continues to violate the arbitration award and an underlying agreement by manufacturing and selling WLAN products in Northern California and across the United States.
Yingli Green Energy (NYSE:YGE) reports third quarter EPS of $0.40 and revenue of $355.9 million which beat by $0.23 and $24 million respectively. Gross margins were down 430 bps on a quarter on quarter basis and 1050 bps on an annualised basis. On a quarter on quarter basis, PV module shipments declined 16.9%. The Company expects 2012 module shipment in the range of 2.1 GW-2.2 GW, an increase of 30.9%-37.2% as compared to 2011.
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JA Solar (NASDAQ:JASO) reports third quarter EPS of $0.30 which misses estimates by $0.10 while revenues of $260.9 million surpass expectations by $24 million. The company’s gross margins declined 850 bps on a sequential basis and improved 60 bps annually. Shipments during the quarter were 418 MW. “In spite of tough market conditions, shipments exceeded the top end of our guidance in the third quarter thanks to robust sales across emerging markets. The proportion of modules in our overall sales mix continued to increase, accounting for 68% of revenue and 59% of total shipments in the quarter,” said Dr Peng Fang, CEO.
Chipmaker Advanced Micro Devices (NYSE:AMD), struggling with slowing personal computer sales due to competition from tablets, has announced plans to sell and lease back its 58 acre campus in Austin, Texas in a transaction that will raise between $150 million-$200 million and is expected to close in the second quarter. AMD has been depleting its cash reserves and has been laying off employees as it endeavours to find new markets for its products.
Ford Motor Co (NYSE:F) plans to deal with the vexed question of advertising fuel economy claims by becoming more “consumer-centric.” Says Jim Farley, Executive Vice President of Global Marketing, Sales and Service and Lincoln. The issue assumed importance after Hyundai and its Kia Motors unit were found to have overstated gas mileage claims by 1 to 6 miles per gallon. Ford has instead changed its advertising by doing away with numbers and instead promote a vehicle, such as the new Fusion Hybrid, by saying it “doubles the fuel economy of the average vehicle.”
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