Tuesday, July 27, 2004
Google is bullish on its own worth
IHT | "Amid a stock market sagging in summer doldrums, Google gave a bullish assessment of its own worth on Monday.
.
Google, which runs the world’s most-used Internet search engine, said Monday that its long-awaited initial public stock sale would raise as much as $3.3 billion and value the company at as much as $36 billion.
.
Google will sell 24.6 million shares for $108 to $135 a share, according to a filing with the U.S. Securities and Exchange Commission. The company, based in Mountain View, California, is selling a 9 percent stake to investors and will have 268.5 million Class A and Class B shares outstanding."
Google To Sell Shares At $108 To $135 > juli 26, 2004
Information week | "Google Inc. said Monday it would sell 24.6 million shares in its initial public offering at an estimated price range of $108 to $135 per share, giving a long-awaited indication of what the leading Internet search company believes it is worth.
That would mean that between $2.66 billion and $3.32 billion in stock would be sold in the IPO, which is expected to happen in August. However, the amount the company itself expects to raise is $1.66 billion, because some of the shares being offered are being sold by existing stockholders.
Overall, Google, which is offering only 9 percent of its stock in the IPO, would have a market capitalization between $29 billion and $36 billion, counting shares held by insiders. "
Friday, July 23, 2004
Microsoft Profit Up, Shares Fall
Yahoo! News | "Microsoft Corp. said on Thursday its quarterly earnings rose 81 percent, but forecast weaker-than-expected profit in the current business year as long-term corporate contracts expire and investment income slows, sending its shares down about 2 percent. "
Wednesday, July 21, 2004
Greenspan Says U.S. Growth Solid
Yahoo! News | "Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites) on Tuesday said the U.S. economy has entered a sustainable expansion that should weather a June slowdown and is under no serious threat from inflation.
The Fed chief told the Senate Banking Committee faster growth was creating price pressures but some of them, like energy costs, were temporary, so interest rates likely can rise to an unspecified 'neutral' level at a 'measured' pace. "
Thursday, July 15, 2004
Nokia sees mobile market shrink
BBC NEWS |"The world's biggest mobile phone maker, Nokia, has seen its market share shrink as second quarter sales were down 5% on 2003 to 6.6bn euros ($8.18bn; £4.4bn).
The Finnish firm said it estimated its market share in the May to June period was 31%, down from 32% in the first quarter of the year and 39% a year ago.
Pre-tax profit was up 9.5% year-on-year at 1.04bn euros, but Nokia said profits would be under pressure later in 2004.
Nokia shares were down 14% to 9.75 euros, a level not seen since 1998.
Jan Ihrfelt of Swedebank said: "The report contains weak guidance for the third quarter. That is primarily what is hitting the share." "
Tuesday, July 13, 2004
Intel Profit Jumps; Lowers Margin Outlook
Yahoo! News | "Intel Corp. (Nasdaq:INTC - news) reported a higher quarterly profit and revenue on Tuesday, but its stock fell 4 percent after it cut its profit margin forecasts for the year as it sells a larger mix of less profitable products.
The world's largest chip maker reported a profit of $1.8 billion, or 27 cents a share for the second-quarter quarter that ended June 26, compared with a year-earlier profit of $896 million, or 14 cents a share. Revenue rose to $8.05 billion from $6.82 billion in the same period last year. "
U.S. Trade Gap Falls Unexpectedly
Yahoo! News | "The U.S. trade deficit narrowed unexpectedly in May as stronger growth overseas and the weak U.S. dollar helped propel exports to record levels, according to government data on Tuesday. "
Investment still pours into China
BBC NEWS | "The giant flow of foreign investment into China shows no sign of slowing down, official Chinese figures reveal.
Despite efforts by China's government to cool its fast-growing economy, the country drew in almost $8bn (�4.3bn) of foreign direct investment last month.
June's $7.97bn figure was up 14% on the previous high of $7.66bn set in the same month last year.
For the first half of 2004 as a whole, China's foreign direct investment was up 11.99% on last year to $33.9bn.
HSBC economist Qu Hongbin said the figures show that overseas investors believe the Chinese government is able to prevent the economy overheating as it continues to expand rapidly. "
Google shares to debut on Nasdaq
BBC NEWS | "Internet search powerhouse Google has confirmed it plans to list on the US Nasdaq exchange when it floats.
Both the technology-heavy Nasdaq and the New York Stock Exchange had been courting the firm ahead of its hotly anticipated $2.7bn (�1.5bn) flotation.
The news is likely to provide a boon for the index - generating huge publicity and increased trading volumes after the recent technology slowdown. "
Snow: Terror Threat Hangs Over Economy
Yahoo! News | "The risk of terror attacks is one of the key dangers the U.S. economy faces and requires vigilance against any bid to weaken measures for investigating suspicious money transactions, U.S. Treasury Secretary John Snow said in remarks prepared for delivery on Tuesday. "
