Google Debuts Moto X, Alaska Communications Slams Estimates, and 3 More Hot Stocks
Google Inc. (NASDAQ:GOOG): The Motorola Moto X will be available on all four major U.S. carriers for a subsidized rate of $199. The phone features a 4.7-inch 720p display, a 10MP camera, Miracast wireless display support, and a promised 24 hours of battery life under “mixed” use, aided by the new X8 processor architecture. Additionally, Motorola CEO Dennis Woodside has promised a cheaper X model for prepaid users and emerging markets.
Alaska Communications Systems Group (NASDAQ:ALSK): Shares are ripping over 23 percent as the company reported second quarter revenue that rose 8.6 percent year-over-year, trouncing estimates. Higher roaming payments gave a 15.8 percent surge to wireless revenue as wireless subscribers, business broadband subscribers, and consumer broadband subscribers all rose modestly quarter-over-quarter.
LinkedIn Corp. (NYSE:LNKD): Shares are up nearly 10 percent in the wake of LinkedIn’s favorable quarterly report on Thursday evening as jobs sales saw gains of 69 percent over last year, making up 56 percent of revenue. Ad revenue was softer due to sponsored news feed transition, though it still picked up 36 percent year-over-year versus the 56 percent it saw in the first quarter, while it made up 24 percent of revenue. Subscriptions rose 68 percent to account for 20 percent of revenue.
Cablevision Systems Corporation (NYSE:CVC): Cablevision shares are up over 5 percent after the company reported EPS of $0.11, beating by $0.07, and revenue of $1.57 billion, which missed by $0.01. Net revenues for cable increased 0.9 percent to $1.402 billion, largely attributed to continued growth of data and voice customers, higher data rates partially offset by lower video revenues, and a decrease in advertising revenues.
J.C. Penney (NYSE:JCP): CIT has reportedly lifted its hold on J.C. Penney accounts, following the company’s statement on Thursday that it has “ample liquidity” to help smooth investors’ ruffled feathers. Penney’s shares took a 10 percent nosedive on Wednesday after the Post’s report that CIT had tightened credit for its smaller suppliers.