VimpelCom Ltd (ADR) (NASDAQ: VIP), a leading global provider of telecommunications services, announces financial and operating results for the quarter and financial year ended December 31, 2013. VimpelCom Ltd (ADR) (NASDAQ:VIP) stock opened at $9.15 in last session, and closed at $8.85, while the day range of VIP stock is $8.84-$9.17.The stock showed a negative weekly performance of -9.88%.
VirnetX Holding Corp (NYSEMKT:VHC) stock was upgraded by analysts at McLean Capital Management from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Feb. 21. The company is engaged in the business of commercializing a portfolio of patents. The Company seeks to license its technology, including GABRIEL Connection Technology, to various original equipment manufacturers, or OEMs, that use its technologies in the development and manufacturing of their own products within the IP-telephony, mobility, fixed-mobile convergence and unified communications markets. VirnetX Holding Corporation (NYSEMKT:VHC) stock opened at $16.42, in last session and closed at $15.84, by loosed -1.49%.The 52 week range was $15.75-$36.84. Company’s market capitalization is $811.58 million.
In China, the focus is now on LTE, where we conservatively expect China LTE shipments of 100M in 2014 and 200M in 2015 as China Mobile and other carriers roll out LTE services. China Mobile Ltd. (ADR) (NYSE:CHL) has procured LTE 100M devices for 2014, with China Telecom Corporation Limited (ADR) (NYSE:CHA) (HKG:0728) adding another 36M, although Citi China Telecom Services analyst Bin Liu only expects ~80M and 20-30M from China Mobile and China Telecom, respectively. China Mobile Ltd. (ADR) (NYSE:CHL) stock loosed -0.63% and finished the last session at $45.65. The EPS of the stock remained 5.21. Company’s market capitalization is $183.52 billion.
Magnachip Semiconductor Corp (NYSE:MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, announced that the Audit Committee of the Company’s Board of Directors has determined that the Company incorrectly recognized revenue on certain transactions and as a result will restate its financial statements. This conclusion is based upon preliminary findings of an ongoing internal review into practices and procedures by management, conducted at the Audit Committee’s request by outside professional advisors and after consultation with management and the Company’s independent auditors. Revenue on these transactions was recognized when products were shipped to a distributor but should have been recognized when the distributor shipped the product to the customer. As a result, revenue on these transactions will be reversed and recognized in the period when the products were shipped by the distributor. Magnachip Semiconductor Corp (NYSE:MX) stock opened the session at $14.85, and closed the session at $14.33. The 52 week range of the MX stock remained $14.33-$23.89 and the day range was $14.33-$14.85.