Investors who piled into Alcatel Lucent SA (ADR) (NYSE:ALU) on the back of turnround plans, making this notorious dog one of Europe’s best-performing stocks in 2013, saw their reward on Thursday. On the financial front, progress was evident in the telecoms equipment maker’s 2013 numbers. Gross margins improved significantly – from 30 per cent in 2012 to 32.2 per cent last year and over 34 per cent in the final quarter. Lying behind this advance was a fall of more than 5 per cent in 2013 operating expenses; although revenues grew modestly, the company lowered its fixed costs by €360m. Annual free cash flow was still negative but, at €114m before the restructuring costs, only a third of 2012’s outflow figure. Alcatel Lucent SA (ADR) (NYSE:ALU) stock opened at $4.47 in last trading session, and closed at $4.47, trading in the range of $4.30 – $4.51. The stock showed a positive weekly performance of 12.31%.
Nokia Corporation (ADR) (NYSE:NOK) wholly-owned subsidiary, Nokia Solutions and Networks (“NSN”), has extended its deal with Saudi Telecom Company (STC) to offer managed services to GSM, 3G and LTE networks. However, the financial terms of the contract have not been disclosed. Nokia Corporation (ADR) (NYSE:NOK) shares closed at $7.01 on last trade day, by gaining 4.78%. Stock 52 week range is $3.02 – $8.20. Company’s market capitalization is $26.02 billion.
QUALCOMM, Inc. (NASDAQ:QCOM) had its “buy” rating reaffirmed by analysts at TheStreet. They wrote, “Qualcomm (QCOM) has been reiterated by TheStreet Ratings as a buy with a ratings score of A+. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, impressive record of earnings per share growth and increase in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.” QUALCOMM, Inc. (NASDAQ:QCOM) stock advanced 1.20% and finished the last session at $73.24. The EPS of the stock remained 3.66. Company’s market capitalization is $123.85 billion.
Broadcom Corp. (NASDAQ:BRCM)‘s stock had its “outperform” rating reaffirmed by Zacks in a report released on Wednesday, StockRatingsNetwork reports. They currently have a $35.00 price target on the stock. Zacks‘ price target indicates a potential upside of 19.86% from the company’s current price. Broadcom Corporation (NASDAQ:BRCM) stock opened at $29.05 in last trading session and closed at $29.42. The 52 week range of the stock is $23.25 – $37.85 and the day range was $28.92 – $29.47.
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