The interim quarter report by Nokia Corporation (ADR) (NYSE:NOK) throws light on the relative strengths in the handset business that Microsoft Corporation (NASDAQ:MSFT) could build on going forward and areas where it might have to take tough call to stop leakage of earnings. The devices & services business unit header under which Nokia used to report its hand set business suffered a huge roughly $452 million loss from operations which generated $2.67 billion revenue in the reporting quarter. This translates into a 10 percent decrease in its net sales in comparison to 1Q13. Nokia Corporation (ADR)(NYSE:NOK) shares after opening at $7.36 moved to $7.46 on last trade day and at the end of the day closed at $7.43. Company price to sales ratio in past twelve months was calculated as 3.10 and price to cash ratio as 2.18. Nokia Corporation (ADR)(NYSE:NOK) showed a negative weekly performance of -0.54%.
Cirrus Logic, Inc. (NASDAQ:CRUS) proposed acquisition of Scotland-based Wolfson Microelectronics PLC would increase the Austin company’s exposure to the massive Android smartphone market while lessening the company’s reliance on its main customer, Apple Inc.
Although it’s too early to tell how the $467 million deal unveiled earlier Tuesday will affect Cirrus Logic’s long-term earnings, though securities analysts said they see value in the proposed acquisition that’s scheduled to be completed during the second half of the year. Cirrus Logic, Inc. (NASDAQ:CRUS) shares advanced 6.59% in last trading session and ended the day on $23.46. CRUS return on equity ratio is recorded as 20.70% and its return on assets is 17.80%. Cirrus Logic, Inc. (NASDAQ:CRUS) yearly performance is 22.51%.
United Microelectronics Corp (ADR) (NYSE:UMC) reportedly will begin fabricating MediaTek’s dual-core chips using its PolySiON 28nm process in June, according to industry sources. Buoyed by an improvement in the yield rate of the 28nm process at UMC, MediaTek has placed orders for over 1,000 wafer starts at the foundry house, the sources indicated. Additionally, Qualcomm reportedly has followed the steps of MediaTek and has also placed small-volume 28nm chip orders at UMC, the sources added. UMC plans to migrate to a more high-end HKMG process for production of 28nm chips in the second half of 2014, the sources revealed. United Microelectronics Corp (ADR)(NYSE:UMC) shares moved up 2.40% in last trading session and was closed at $2.13, while trading in range of $ 2.11 – 2.17. United Microelectronics Corp (ADR) (NYSE:UMC) year to date (YTD) performance is 4.41%.
NetSuite (NYSE:N) saw strong trading volume on Tuesday after the company announced better than expected quarterly earnings, American Banking and Market News reports. 1,769,906 shares were traded during mid-day trading, an increase of 70% from the previous session’s volume of 1,039,226 shares. The stock last traded at $76.75 and had previously closed at $73.59. NetSuite Inc (NYSE:N) weekly performance is -8.60%. On last trading day company shares ended up $76.87. NetSuite Inc (NYSE:N) distance from 50-day simple moving average (SMA50) is 21.73%. Analysts mean target price for the company is $117.69.