AT&T shares rise after Raymond James upgrades, says stock cheap compared to Verizon

Telecommunications giant AT&T rose 0.7 percent in the premarket Friday after an analyst at Raymond James upgraded the stock, noting it trades at a more attractive valuation than rival Verizon. “The outlook for positive earnings growth combined with a strong de-levering story are likely to drive the shares to outperform,” Louthan wrote in a note to clients. “AT&T trades at a discount to Verizon of ~3.5x turns of EPS and FCF, with 250 bp higher dividend yield. We believe that the combination of po


Telecommunications giant AT&T rose 0.7 percent in the premarket Friday after an analyst at Raymond James upgraded the stock, noting it trades at a more attractive valuation than rival Verizon. “The outlook for positive earnings growth combined with a strong de-levering story are likely to drive the shares to outperform,” Louthan wrote in a note to clients. “AT&T trades at a discount to Verizon of ~3.5x turns of EPS and FCF, with 250 bp higher dividend yield. We believe that the combination of po
AT&T shares rise after Raymond James upgrades, says stock cheap compared to Verizon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: fred imbert, janhvi bhojwani
Keywords: news, cnbc, companies, trades, quarter, service, louthan, company, shares, raymond, verizon, rise, outperform, earnings, stock, compared, cheap, growth, james, upgrades, att


AT&T shares rise after Raymond James upgrades, says stock cheap compared to Verizon

Telecommunications giant AT&T rose 0.7 percent in the premarket Friday after an analyst at Raymond James upgraded the stock, noting it trades at a more attractive valuation than rival Verizon.

Analyst Frank Louthan raised his rating on AT&T to outperform from market perform. He also issued a price target of $34 per share, which represents a 12.3 percent upside over the next 12 months.

“The outlook for positive earnings growth combined with a strong de-levering story are likely to drive the shares to outperform,” Louthan wrote in a note to clients. “AT&T trades at a discount to Verizon of ~3.5x turns of EPS and FCF, with 250 bp higher dividend yield. We believe that the combination of positive earnings growth and delivering over the course of the year will being investors back to AT&T.”

AT&T shares slumped in the last 12 months, falling more than 18 percent in that time period. Verizon, meanwhile, is up about 20 percent.

AT&T was under pressure as it faced legal hurdles to close an $85.4 billion merger with Time Warner.

The company also dealt with slowing customer growth. In the fourth quarter, the company added a net 134,000 phone subscribers who pay a monthly bill, well below estimates. AT&T’s churn rate also rose to 1 percent last quarter from 0.89 percent in the year-earlier period.

AT&T’s streaming service, DirecTV Now, lost 267,000 subscribers in the fourth quarter, more than was expected. The company said the attrition rate was mostly due to people leaving the service after their discounted offers ran out.

Moving forward, profits from DirecTV Now should increase, Louthan said:

First, profitability of DIRECTVNOW should increase as costs are eliminated. Second, the product is now less attractive to a wider audience with limited content. While current users are able to keep the 105 channel package, it could be harder to attract new customers. We expect AT&T to offset this with a more complete lineup of channels from its delayed DTV OTT offering and its enhanced streaming service (likely bolted onto HBO GO), both expected later in 2019.

He also said AT&T could outperform the broader telecom sector this year, with his earnings per share estimate for 2019 implying a return of 18 percent from current levels.

“Where we could be wrong is if investors focus more on the subscriber metrics as they report over the course of the year (regardless of the EPS and FCF impact) and trade off that,” Louthan said.

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Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: fred imbert, janhvi bhojwani
Keywords: news, cnbc, companies, trades, quarter, service, louthan, company, shares, raymond, verizon, rise, outperform, earnings, stock, compared, cheap, growth, james, upgrades, att


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Asia trades mixed amid growing concerns over global growth

Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week. Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81. The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. Indian stocks rose after the country on Sun


Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week. Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81. The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. Indian stocks rose after the country on Sun
Asia trades mixed amid growing concerns over global growth Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: saheli roy choudhury, seung-il ryu, nurphoto, getty images
Keywords: news, cnbc, companies, stocks, gains, amid, trades, mixed, concerns, traded, rose, oil, tokyo, shares, trade, reportedly, bank, growing, global, asia, growth


Asia trades mixed amid growing concerns over global growth

Asia Pacific markets traded mixed on Monday as investors remained cautious over a possible global economic slowdown after important data in the United States and China missed expectations last week.

Chinese mainland shares traded up: The Shanghai composite gained 1.92 percent to 3,026.99 while the Shenzhen composite was up 3.89 percent at 1,667.81.

The on-shore yuan was near flat at 6.7224 against the dollar, retreating from an earlier level of 6.7244. The People’s Bank of China is expected to ease monetary policy further to encourage lending as it seeks to support the country’s slowing economy. Its head, Governor Yi Gang, reportedly said on Sunday the central bank will not use the exchange rate to boost its exports or as a tool in trade frictions.

Japan’s Nikkei 225 see-sawed between gains and losses to finish up 0.47 percent at 21,125.09 while the Topix index added 0.57 percent to 1,581.44.

Nissan shares advanced 1.11 percent as the company’s former boss, Carlos Ghosn, is reportedly seeking permission from the Tokyo District Court to attend the automaker’s board meeting on Tuesday, Reuters said, citing a source.

Ghosn, the former Nissan chairman, was released from a detention center in Tokyo last week on $9 million in bail after being detained for more than 100 days on financial misconduct charges. He has called those charges “meritless.”

In South Korea, the Kospi was near flat at 2,138.10 while major indexes in Singapore and Malaysia struggled for gains in afternoon trade. Hong Kong’s Hang Seng index traded up 0.93 percent. Indian stocks rose after the country on Sunday announced it will hold parliamentary election in seven stages starting April 11. The Nifty 50 was up 1.09 percent while the Indian rupee traded around 69.91 to the dollar at 3:21 p.m. HK/SIN, strengthening from levels above 70.40 last week.

The ASX 200 in Australia fell 0.38 percent to 6,180.20 as most sectors declined. The energy sector was down 1.55 percent as oil stocks retreated: Shares of Santos were down 2.16 percent, Oil Search lower by 1.99 percent and Woodside Petroleum declined 1.73 percent.

Oil prices were under pressure on Friday following data that showed U.S. job gains came to a grinding halt in February while Chinese imports and exports last month slumped. The European Central Bank also slashed its growth outlook for the euro zone.

U.S. crude rose 0.66 percent to $56.44 a barrel on Monday afternoon during Asian hours while international benchmark Brent was up 0.58 percent at $66.12.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: saheli roy choudhury, seung-il ryu, nurphoto, getty images
Keywords: news, cnbc, companies, stocks, gains, amid, trades, mixed, concerns, traded, rose, oil, tokyo, shares, trade, reportedly, bank, growing, global, asia, growth


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Why getting this new 20 percent tax break might be tough this year

“Some software programs have had issues with aggregation, and others have trouble with making sure the software understands which businesses are ‘specified service trades or businesses.'” The new law also introduced a break for small business owners called the qualified business income deduction. This tax break allows owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships, to deduct up to 20 percent of their qualified business income. As tempting as it


“Some software programs have had issues with aggregation, and others have trouble with making sure the software understands which businesses are ‘specified service trades or businesses.'” The new law also introduced a break for small business owners called the qualified business income deduction. This tax break allows owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships, to deduct up to 20 percent of their qualified business income. As tempting as it
Why getting this new 20 percent tax break might be tough this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: darla mercado, getty images, photo, via getty images, nora carol photography, -jeffrey levine, cpa, ceo of blueprint wealth alliance
Keywords: news, cnbc, companies, owners, break, qualified, trouble, tax, 20, understands, tough, trying, trades, tempting, getting, business, software


Why getting this new 20 percent tax break might be tough this year

“Some software programs have had issues with aggregation, and others have trouble with making sure the software understands which businesses are ‘specified service trades or businesses.'”

The new law also introduced a break for small business owners called the qualified business income deduction.

This tax break allows owners of “pass-through” entities, including sole proprietorships, S-corporations and partnerships, to deduct up to 20 percent of their qualified business income.

As tempting as it sounds, business owners and their accountants have been trying to figure out just who qualifies.

That’s because the IRS also issued numerous clarifications through last year and up through January 2019, fine-tuning the break and naming which industries could claim it.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: darla mercado, getty images, photo, via getty images, nora carol photography, -jeffrey levine, cpa, ceo of blueprint wealth alliance
Keywords: news, cnbc, companies, owners, break, qualified, trouble, tax, 20, understands, tough, trying, trades, tempting, getting, business, software


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Cramer’s lightning round: ‘I’m surprised’ Canada Goose trades so badly—it’s a buy

Canada Goose Holdings Inc.: “I’m surprised that this stock acts so badly. I’m wondering if people feel like it’s really that much of a winter play and it wasn’t cold enough. And, by the way, I think they’re going to move into all sorts of new lines, and everyone’s a little concerned they’re going to come in and take that business away.” I’m not going to leave you high and dry, … so instead of Yext, let’s change the letters around: I’m going to give you Yeti. Wix.com Ltd.: “First of all, I want t


Canada Goose Holdings Inc.: “I’m surprised that this stock acts so badly. I’m wondering if people feel like it’s really that much of a winter play and it wasn’t cold enough. And, by the way, I think they’re going to move into all sorts of new lines, and everyone’s a little concerned they’re going to come in and take that business away.” I’m not going to leave you high and dry, … so instead of Yext, let’s change the letters around: I’m going to give you Yeti. Wix.com Ltd.: “First of all, I want t
Cramer’s lightning round: ‘I’m surprised’ Canada Goose trades so badly—it’s a buy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, yext, think, great, round, canada, wix, going, badlyits, im, cramers, buy, theyre, good, trades, lightning, stock, surprised, goose, tell


Cramer's lightning round: 'I'm surprised' Canada Goose trades so badly—it's a buy

Canada Goose Holdings Inc.: “I’m surprised that this stock acts so badly. I’m wondering if people feel like it’s really that much of a winter play and it wasn’t cold enough. [CEO] Dani Reiss is doing a remarkable job. The stock, at $55, is a buy. And, by the way, I think they’re going to move into all sorts of new lines, and everyone’s a little concerned they’re going to come in and take that business away.”

Yext Inc.: “I am not a Yext fan. But you know what? I’m not going to leave you high and dry, … so instead of Yext, let’s change the letters around: I’m going to give you Yeti. I think Yeti’s doing very well, and at $17 bucks, it’s the right stock to own.”

Idexx Laboratories Inc.: “The stock is like any growth stock. These got just annihilated. I will tell you that I think this is a great level to buy Idexx. And let me tell you I think Zoetis is very good, too. I think Elanco’s a little too high.”

Clean Harbors Inc.: “Clean Harbors is good. I’m not going to rave about it because … it has a bunch of disparate businesses. I wish it actually would split itself up at this point.”

Wix.com Ltd.: “First of all, I want to congratulate you and your son — I think Wix is a great company. Second, I am a Wix client — full disclosure — at our restaurants. You cannot make great websites on the cheap, meaning without having a lot of money, unless you use Wix, which is monumental.”

Nio Inc.: “No. We looked at Nio. Look, I’m recommending Alibaba again because it’s, I think, a really good situation. I cannot recommend Nio.”


Company: cnbc, Activity: cnbc, Date: 2019-02-06  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, yext, think, great, round, canada, wix, going, badlyits, im, cramers, buy, theyre, good, trades, lightning, stock, surprised, goose, tell


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The stock market highs for the year are almost in, warns Wells Fargo strategist

Wells Fargo’s Chris Harvey weighs in on overall market and upcoming Federal Reserve meeting 19 Hours Ago | 08:11The stock market highs for the year are almost in, Wells Fargo strategist Chris Harvey told CNBC. He said investors can move on some value stocks like industrials and tobacco but should expect mid-single-digit percentage returns on the S&P 500 this year. “We want those expectations to come down, but as we go forward, that’s where the value is and that’s where the opportunity is,” Harve


Wells Fargo’s Chris Harvey weighs in on overall market and upcoming Federal Reserve meeting 19 Hours Ago | 08:11The stock market highs for the year are almost in, Wells Fargo strategist Chris Harvey told CNBC. He said investors can move on some value stocks like industrials and tobacco but should expect mid-single-digit percentage returns on the S&P 500 this year. “We want those expectations to come down, but as we go forward, that’s where the value is and that’s where the opportunity is,” Harve
The stock market highs for the year are almost in, warns Wells Fargo strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: tyler clifford, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, warns, stocks, sp, market, harvey, price, thats, trades, strategist, value, highs, fargo, stock, wells


The stock market highs for the year are almost in, warns Wells Fargo strategist

Wells Fargo’s Chris Harvey weighs in on overall market and upcoming Federal Reserve meeting 19 Hours Ago | 08:11

The stock market highs for the year are almost in, Wells Fargo strategist Chris Harvey told CNBC.

He said investors can move on some value stocks like industrials and tobacco but should expect mid-single-digit percentage returns on the S&P 500 this year.

“You have to tread lightly,” the bank’s head of equity strategy said Monday on “Fast Money.” “We don’t want you to rush into it, it’s a walk-not-run-type situation.”

While the U.S. economy remains relatively positive, markets have been worried that global economic growth is slowing, particularly in China and Europe.

Harvey argued that companies should lower guidance because estimates are too high. He has set a year-end price target of 2,665 for the S&P index, about a 7.6 percent climb from the start of the year and just under 1 percent higher than its Monday close.

“We want those expectations to come down, but as we go forward, that’s where the value is and that’s where the opportunity is,” Harvey said.

Value stocks tend to trade at a lower price compared to their fundamentals. Harvey also suggested looking at real estate investment trusts, capital goods, software and food and beverage companies.

Harvey is pulling away from transportation and semiconductors.

“We’re doing a lot of intra-industry trades and a lot of one-off trades because some of these situations are very idiosyncratic” and “it’s more of a stock picker’s market than last year,” he said.

“We’ve been saying that value companies have really been a proxy for risk,” Harvey continued. “Now you’re seeing value as an opportunity.”

The S&P 500 dipped to 2,643.85 on Monday, ending a three-day win streak. The index is up about 5.4 percent this year.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-01-29  Authors: tyler clifford, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, warns, stocks, sp, market, harvey, price, thats, trades, strategist, value, highs, fargo, stock, wells


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Goldman says Netflix is one of its favorite trades for 2019, sees nearly 50% comeback

After a sell-off cut its value by a third, Netflix represents one of the most compelling investments available in the internet space, according to Goldman Sachs. The brokerage reiterated its buy rating on Netflix shares as well as its $400, 12-month price target, representing nearly 50 percent upside from the stock’s close on Thursday. Goldman also added the internet video platform to its so-called “Conviction List,” a hand-picked collection of stocks its analysts believe are more likely than ot


After a sell-off cut its value by a third, Netflix represents one of the most compelling investments available in the internet space, according to Goldman Sachs. The brokerage reiterated its buy rating on Netflix shares as well as its $400, 12-month price target, representing nearly 50 percent upside from the stock’s close on Thursday. Goldman also added the internet video platform to its so-called “Conviction List,” a hand-picked collection of stocks its analysts believe are more likely than ot
Goldman says Netflix is one of its favorite trades for 2019, sees nearly 50% comeback Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: thomas franck, robyn beck, afp, getty images
Keywords: news, cnbc, companies, trades, 50, believe, shares, 2019, represents, netflix, nearly, internet, continue, goldman, video, favorite, comeback, value, stocks, sees


Goldman says Netflix is one of its favorite trades for 2019, sees nearly 50% comeback

After a sell-off cut its value by a third, Netflix represents one of the most compelling investments available in the internet space, according to Goldman Sachs.

The brokerage reiterated its buy rating on Netflix shares as well as its $400, 12-month price target, representing nearly 50 percent upside from the stock’s close on Thursday. Goldman also added the internet video platform to its so-called “Conviction List,” a hand-picked collection of stocks its analysts believe are more likely than others to deliver meaningful upside.

“With Netflix shares down 36 percent since record highs in July, and the S&P 500 down 10 percent over the same period, we believe Netflix represents one of the best risk/reward propositions in the Internet sector,” analyst Heath Terry said in a note Friday. “We continue to believe Netflix’s investment in content, technology and distribution will continue to drive subscriber growth well above consensus expectations both in the U.S. and internationally.”

WATCH: How Netflix stock has made long-term investors rich


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: thomas franck, robyn beck, afp, getty images
Keywords: news, cnbc, companies, trades, 50, believe, shares, 2019, represents, netflix, nearly, internet, continue, goldman, video, favorite, comeback, value, stocks, sees


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The most important tech stories of 2018 — in tweets

It was less than 12 months ago when start-up Ripple was sitting on close to $80 billion of XRP, a cryptocurrency that trades publicly like bitcoin. Celebrities including Paris Hilton and Jamie Foxx were endorsing coin offerings. Since then, the total market capitalization of all cryptocurrencies has fallen by about 80 percent. This tweet from Ripple sums up the mood in January, when the buzz around crypto’s surge had taken the tech world by storm.


It was less than 12 months ago when start-up Ripple was sitting on close to $80 billion of XRP, a cryptocurrency that trades publicly like bitcoin. Celebrities including Paris Hilton and Jamie Foxx were endorsing coin offerings. Since then, the total market capitalization of all cryptocurrencies has fallen by about 80 percent. This tweet from Ripple sums up the mood in January, when the buzz around crypto’s surge had taken the tech world by storm.
The most important tech stories of 2018 — in tweets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-24  Authors: alex sherman, ray tamarra, getty images
Keywords: news, cnbc, companies, surge, xrp, world, 2018, important, sums, taken, tweets, trades, ripple, tech, 80, total


The most important tech stories of 2018 — in tweets

It was less than 12 months ago when start-up Ripple was sitting on close to $80 billion of XRP, a cryptocurrency that trades publicly like bitcoin. Celebrities including Paris Hilton and Jamie Foxx were endorsing coin offerings.

Since then, the total market capitalization of all cryptocurrencies has fallen by about 80 percent.

This tweet from Ripple sums up the mood in January, when the buzz around crypto’s surge had taken the tech world by storm.


Company: cnbc, Activity: cnbc, Date: 2018-12-24  Authors: alex sherman, ray tamarra, getty images
Keywords: news, cnbc, companies, surge, xrp, world, 2018, important, sums, taken, tweets, trades, ripple, tech, 80, total


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Japan court extends Ghosn detention by 10 days

A Japanese court on Sunday extended for 10 days the detention of ousted Nissan Motor chairman Carlos Ghosn, who is facing new allegations of making the car maker shoulder $16.6 million in personal investment losses. The extension announced by the Tokyo District Court means Ghosn will remain in Tokyo’s main detention centre, where he has been confined since his arrest last month on initial allegations of financial misconduct. Ghosn was re-arrested on Friday based on suspicions that around October


A Japanese court on Sunday extended for 10 days the detention of ousted Nissan Motor chairman Carlos Ghosn, who is facing new allegations of making the car maker shoulder $16.6 million in personal investment losses. The extension announced by the Tokyo District Court means Ghosn will remain in Tokyo’s main detention centre, where he has been confined since his arrest last month on initial allegations of financial misconduct. Ghosn was re-arrested on Friday based on suspicions that around October
Japan court extends Ghosn detention by 10 days Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-23  Authors: chesnot, getty images news, getty images
Keywords: news, cnbc, companies, yen, extends, ghosn, million, allegations, trades, japan, personal, detention, court, nissan, 166, days


Japan court extends Ghosn detention by 10 days

A Japanese court on Sunday extended for 10 days the detention of ousted Nissan Motor chairman Carlos Ghosn, who is facing new allegations of making the car maker shoulder $16.6 million in personal investment losses.

The extension announced by the Tokyo District Court means Ghosn will remain in Tokyo’s main detention centre, where he has been confined since his arrest last month on initial allegations of financial misconduct.

Ghosn was re-arrested on Friday based on suspicions that around October 2008 he shifted personal trades to Nissan to make it responsible for 1.85 billion yen ($16.6 million) in appraisal losses, prosecutors said.

They said the move inflicted damage on Nissan by having it deposit a total of $14.7 million on four occasions between June 2009 and March 2012 into a related bank account.


Company: cnbc, Activity: cnbc, Date: 2018-12-23  Authors: chesnot, getty images news, getty images
Keywords: news, cnbc, companies, yen, extends, ghosn, million, allegations, trades, japan, personal, detention, court, nissan, 166, days


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Finland is trying to compete with China and the US in the race for 5G

Shares of Finnish telecommunications company Nokia have rallied nearly 30 percent in 2018, and that’s largely thanks to two letters: 5G. The stock still trades well below its sky-high levels during the dotcom boom, when Nokia was the world’s top mobile phone seller. But Nokia is gaining momentum in the mobile communications market as a key player making 5G equipment and software. The company’s efforts have helped put Finland on the map in the worldwide race to develop and implement so-called fif


Shares of Finnish telecommunications company Nokia have rallied nearly 30 percent in 2018, and that’s largely thanks to two letters: 5G. The stock still trades well below its sky-high levels during the dotcom boom, when Nokia was the world’s top mobile phone seller. But Nokia is gaining momentum in the mobile communications market as a key player making 5G equipment and software. The company’s efforts have helped put Finland on the map in the worldwide race to develop and implement so-called fif
Finland is trying to compete with China and the US in the race for 5G Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: elizabeth schulze
Keywords: news, cnbc, companies, largely, finland, 5g, phone, trying, mobile, worlds, compete, wireless, worldwide, race, trades, nokia, china


Finland is trying to compete with China and the US in the race for 5G

Shares of Finnish telecommunications company Nokia have rallied nearly 30 percent in 2018, and that’s largely thanks to two letters: 5G.

The stock still trades well below its sky-high levels during the dotcom boom, when Nokia was the world’s top mobile phone seller.

But Nokia is gaining momentum in the mobile communications market as a key player making 5G equipment and software. The company’s efforts have helped put Finland on the map in the worldwide race to develop and implement so-called fifth generation wireless technology.

“They (Nokia) are trying to regain some technological leadership here in 5G that was largely lost in the last 15 years through the smartphone era,” said Tim Hatt, head of research at GSMA Intelligence, in a phone interview with CNBC.


Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: elizabeth schulze
Keywords: news, cnbc, companies, largely, finland, 5g, phone, trying, mobile, worlds, compete, wireless, worldwide, race, trades, nokia, china


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Asia trades cautiously ahead of crucial Trump-Xi talks at G-20 summit

Japan’s Nikkei 225 was up 0.25 percent while the Topix index rose 0.23 percent. In Australia, the benchmark ASX 200 slipped 0.7 percent in morning trade, with most sectors declining. The session in Asia follows a lower finish on Wall Street, where the Dow Jones industrial average snapped a three-day winning streak. Trump told reporters Thursday that he was “close” to doing something on trade with China but added he wasn’t sure if he wanted to do it. “Because what we have right now is billions an


Japan’s Nikkei 225 was up 0.25 percent while the Topix index rose 0.23 percent. In Australia, the benchmark ASX 200 slipped 0.7 percent in morning trade, with most sectors declining. The session in Asia follows a lower finish on Wall Street, where the Dow Jones industrial average snapped a three-day winning streak. Trump told reporters Thursday that he was “close” to doing something on trade with China but added he wasn’t sure if he wanted to do it. “Because what we have right now is billions an
Asia trades cautiously ahead of crucial Trump-Xi talks at G-20 summit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, wrote, morning, ahead, trump, g20, trades, billions, summit, talks, trade, xi, australia, crucial, cautiously, asia, markets, trumpxi


Asia trades cautiously ahead of crucial Trump-Xi talks at G-20 summit

Asia Pacific markets were cautious Friday morning as investors waited for a highly-anticipated meeting between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit in Argentina, which many are hoping would help ease escalating trade tensions between the two countries.

Japan’s Nikkei 225 was up 0.25 percent while the Topix index rose 0.23 percent. South Korea’s Kospi traded fractionally higher at 2,116.04.

In Australia, the benchmark ASX 200 slipped 0.7 percent in morning trade, with most sectors declining. The heavily-weighted financial subindex was down 0.79 percent while the materials sector fell 0.15 percent.

The session in Asia follows a lower finish on Wall Street, where the Dow Jones industrial average snapped a three-day winning streak.

“Markets have been choppy this morning amid varying views on the prospect of any sort of trade deal this weekend between Trump and Xi at the G20,” David de Garis, director of economics and markets at the National Australia Bank, wrote in a morning note.

Trump told reporters Thursday that he was “close” to doing something on trade with China but added he wasn’t sure if he wanted to do it. “Because what we have right now is billions and billions of dollars coming into the United States in the form of tariffs or taxes, so I really don’t know,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, wrote, morning, ahead, trump, g20, trades, billions, summit, talks, trade, xi, australia, crucial, cautiously, asia, markets, trumpxi


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