Cisco Shares Trail 1% in Trading, While Citigroup Stock Rises 2%
Since reaching a daily low point on the day around 10 am this morning, the major indices are catching a bid to the upside as investors look to the major components for direction in specific sectors. Take a look at the catalysts at these companies now:
Cisco Systems, Inc. (NASDAQ:CSCO): According to IHS iSuppli, the global broadband subscriber base is expected to increase by almost 60 percent by 2015, with a projected 350 million new subscribers anticipated between 2011 and 2015. The total number of broadband subscribers worldwide will come to 949 million by 2015, an increase of 58 percent from 600 million in 2011, the firm added.
Oracle Corporation (NASDAQ:ORCL): In emerging markets, Oracle (NASDAQ:ORCL) and RIM (NASDAQ:RIMM) have an advantage over Apple’s (NASDAQ:AAPL) iPhone, because they both sell devices that are less expensive than the iPhone, wrote Matt Asay, Register columnist and senior vice president at a systems management company.
Micron Technology, Inc. (NASDAQ:MU): Flash memory component manufacturer Micron (NASDAQ:MU) reported Q1 EPS of (19c), compared with analysts’ consensus estimate of (7c). Although the company’s revenue was a bit lower than expected, Micron noted improvement in its NAND flash margins and reported that its NAND flash revenue gained 6 percent sequentially. Micron’s margin stayed at 15 percent overall. Micron added that DRAM flash memory inventory levels are “healthy.” In response to Micron’s results and comments, Wedbush upgraded the stock to Outperform from Neutral. The firm thinks DRAM has finally hit a bottom and foresees positive catalysts for NAND in 2012.
General Electric Company (NYSE:GE): The Los Angeles Times reported that after NBCUniversal (NASDAQ:CMCSA) (NYSE:GE) abandoned its plans to build a $750 million studio and office complex across the street from Universal Studios, Thomas Properties Group (NASDAQ:TPGI) scrapped its planned 1.5 million square-foot project. The report added that NBCUniversal paid a $9 million breakup fee to Thomas Properties for backing out of the deal. General Electric started with an Overweight at Morgan Stanley with a Price Target of $20.
Citigroup Inc. (NYSE:C): Top-ranked Internet analyst Mark Mahaney is attracting Internet IPOs to the bank, reports the Wall Street Journal.
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