Intel to FIGHT $1.4B EU Antitrust Suit and 4 Dow Drivers Bouncing Back
General Electric Co. (NYSE:GE) steam turbine technology has been named by Mass Global Investment Company to improve the efficiency and output of the Erbil Power Plant in Iraq’s Kurdistan region. The deal’s terms direct GE to provide two steam turbines which will be used to convert the Erbil plant from a simple to a combined-cycle operation, increasing plant output by 500 megawatts, which is enough additional electricity to serve 100,000 Iraqi households.
Don’t Miss: RIM Status: DEFCON DENIAL.
Hewlett-Packard Company (NYSE:HPQ): Tablet PC shipments should exceed shipments of notebooks in the year 2016, says the Boy Genius Report, citing NPD numbers. The firm expects that mobile PC shipments will jump from 347 million in the current year, to more than 809 million by 2017. In addition, NPD predicts that notebook PC shipments will grow from 208 million in 2012 to 393 million by 2017, with tablet shipments from 121 million to 416 million.
International Business Machines Corp. (NYSE:IBM) shares are falling back, following BMO Capital reducing its 2012 revenue estimate, blaming macro economic and foreign exchange difficulties. The analyst projects IBM’s 2012 revenue to post below consensus, as the company is negatively impacted by macro economic conditions in Europe, and it now believes that foreign exchange trends could shrink the IBM’s 2012 revenues by 3 year-to-year, compared to its previous estimate of a 2 percent reduction. However, BMO predicts that IBM will post in-line earnings per share for 2012, thanks in part to higher than expected operating margins and a lower tax rate. The firm’s shares are forecast to be constrained by revenue, and BMO keeps a price target of $200, and a Market Perform. At the same time, BMO used the weak macro landscapes in Asia and in Europe, plus the adverse foreign exchange situation as reason for reducing price targets on such enterprise hardware companies EMC (NYSE:EMC), VMWare (NYSE:VMW), Seagate (NASDAQ:STX), Western Digital (NYSE:WDC), Elex (NYSE:ELX), and QLogic (NASDAQ:QLGC).
Intel Corporation (NASDAQ:INTC) is moving to have a $1.4 billion antitrust fine imposed by European Union regulators in 2009 overturned, says a Reuters report. The fine was imposed to begin with due to anti-competitive tactics employed against Advanced Micro Devices (NYSE:AMD).
JPMorgan Chase & Co. (NYSE:JPM) has been named by Hutchison Whampoa to oversee its return to the market. The former was the world’s largest corporate bonds underwriter, and now moves to number two in Asia following its choice by Hutchison. Additionally, JPM will now challenge HSBC Holdings (NYSE:HBC) which sits at the top of Asia’s dollar, euro and yen league table.
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