Sprint Opens Post-Merger Trading, InfoSys Beats Estimates, and 3 More Hot Stocks
Sprint Nextel Corp. (NYSE:S): Sprint has opened its trading for the first time post-merger, with shares higher on an adjusted basis. Janco has upgraded shares to Strong Buy on Friday morning, while JPMorgan has resumed coverage at Neutral. SoftBank CEO Masayoshi Son says Sprint will spend a hefty $16 billion in capital expenditures over the next two years, with much of it going toward expanding LTE coverage.
Infosys Limited Inc. (NASDAQ:INFY): InfoSys has recorded a net profit of 23.74 billion rupees, or $397 million, a 3.7 percent gain year over year. The company maintains a forecast for 6 to 10 percent revenue growth in the full 2014 year despite many analysts’ concerns that Infosys would cut its guidance, helping boost shares over 6 percent.
Dell Inc. (NASDAQ:DELL): Carl Icahn has sweetened his $14 per share bid for Dell by adding warrants, which he says would increase the value of the offer to a range of $15.50 to $18 per share from $14. Dell shareholders would get $14 per share with a warrant for every four shares held, while each warrant would entitle the holder to buy Dell shares for $20 each within the next seven years. Shareholders will vote on Thursday.
Anheuser-Busch InBev (NYSE:BUD): Mexican regulators have warned that Anheuser-Busch InBev and others will have to cap exclusive distribution deals with smaller retailers in the country to 20 percent of total point of sales or be subjected to fines as apart of antitrust enforcement. The deal excludes large convenience-store chains like Oxxo. AB InBev and Heineken control an estimated 98 percent of the Mexican beer market.
Rio Tinto (NYSE:RIO): Rio has opened the production of coal at the expansion of the Kestrel mine in eastern Australia, which cost the company $2 billion to execute. The mine exports coking coal used in steel production to China, India, Japan, Korea, Taiwan, and Europe, and offers some light into an industry that has been heavily plagued by delays, regulatory issues,and closings.
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