Tech New highs: Nokia Corporation (ADR) (NYSE:NOK), Adobe Systems Incorporated (NASDAQ:ADBE), Level 3 Communications, Inc. (NYSE:LVLT), TW Telecom Inc (NASDAQ:TWTC), Amkor Technology, Inc. (NASDAQ:AMKR)
Nokia Corporation (ADR) (NYSE:NOK) has resolved to commence repurchases of shares under the authorization given by the Nokia Annual General Meeting held on June 17, 2014. The Board resolved to repurchase a maximum of 370 million Nokia shares, however up to an equivalent of EUR 1.25 billion. The repurchases will commence earliest after publication of Nokia’s second quarter 2014 results, which are scheduled for publication on July 24, 2014. Nokia Corporation (ADR) (NYSE:NOK) shares advanced3.61% in last trading session and ended the day on $8.33. NOK Gross Margin is 42.10% and its return on assets is -4.50%. Nokia Corporation (ADR) (NYSE:NOK) quarterly performance is 10.48%.
Adobe Systems (NASDAQ:ADBE)‘s stock had its “neutral” rating restated by Zacks in a research note issued on Wednesday. They currently have a $71.00 price target on the stock. Zacks‘s price target would indicate a potential upside of 5.12% from the company’s current price. Adobe Systems Incorporated (NASDAQ:ADBE) ended the last trading day at $73.08. Company weekly volatility is calculated as 2.01% and price to cash ratio as 11.61. Adobe Systems Incorporated (NASDAQ:ADBE) showed a positive weekly performance of 8.33%.
Fitch Ratings has affirmed the ‘B+’ Issuer Default Rating (IDR) assigned to Level 3 Communications, Inc. (NYSE:LVLT) and its wholly owned subsidiary Level 3 Financing, Inc. (Level 3 Financing). In addition, Fitch has affirmed the specific issue ratings assigned to LVLT and Level 3 Financing as outlined at the end of this release. The Rating Outlook remains Stable. Approximately $8.4 billion of LVLT’s consolidated debt as of March 31, 2014 is affected by Fitch’s actions. Level 3 Communications, Inc. (NYSE:LVLT) net profit margin is 1.30%and weekly performance is 7.52. On last trading day company shares ended up $45.60. Analysts mean target price for the company is $89789. Level 3 Communications, Inc. (NYSE:LVLT) distance from 50-day simple moving average (SMA50) is 9.45%.
On June 17, 2014, Shareholder rights attorneys at Robbins Arroyo LLP are investigating the proposed acquisition of TW Telecom Inc (NASDAQ:TWTC) by Level 3 Communications, Inc.. On June 16, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which tw telecom shareholders will receive $40.86 in cash for each share of common stock owned. Under the terms of the agreement, tw telecom shareholders will receive $10 cash and 0.7 shares of Level 3 common stock for each share of tw telecom common stock. TW Telecom Inc (NASDAQ:TWTC) shares moved up 4.65% in last trading session and was closed at $41.40, while trading in range of $39.51 – $41.67. TW Telecom Inc (NASDAQ:TWTC) year to date (YTD) performance is 35.87%.
Amkor Technology (NASDAQ:AMKR) EVP Joo Ho Kim unloaded 52,500 shares of Amkor Technology stock on the open market in a transaction dated Thursday, June 12th. The stock was sold at an average price of $11.57, for a total value of $607,425.00. Following the sale, the executive vice president now directly owns 21,930 shares of the company’s stock, valued at approximately $253,730. Amkor Technology, Inc. (NASDAQ:AMKR) shares moved down -0.25% in last trading session and was closed at $12.18, while trading in range of $11.92 – $12.27. Amkor Technology, Inc. (NASDAQ:AMKR) year to date (YTD) performance is 98.69%.