SunTech Power Faces Soft Demand and 3 Morning Hot Stocks Trading Today
Google Inc (NASDAQ:GOOG) may soon get bids for the set-top box business owned by Motorola (NYSE:MSI), which has been on the block for some time. The deadline for the last round of bidding expires today, but an extension cannot be ruled out. The unit could be of interest to companies such as cable equipment maker Arris Group (NASDAQ:ARRS), set-top box manufacturer Pace plc, video technology company Technicolor SA and private equity outfits, who are expected to bid from $1.5 billion to $2 billion.
China’s Ministry of Commerce has approved a joint-venture that will create a software, integrated with ARM-based chips, that will boost security for mobile devices. The permission, however, is conditional, as in the case of the approval of the JV by the EU last month. The participants in the JV are UK based ARM Holdings plc (NASDAQ:ARMH), digital security specialist Gemalto NV and German tech company Giesecke & Devrient GmbH. The Chinese Ministry requires ARM to provide information on its TrustZone security technology to its rivals so that they could develop their own security solutions.
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SunTech Power Holdings Co Ltd (NYSE:STP), a solar panel manufacturer, announced preliminary third-quarter results which indicated that photo-voltaic (PV) shipments fell 10% on a sequential basis, while revenues similarly fell by 18% to $387 million. The company intends to adjust its production capacity and operations in line with soft demand expected to continue into early 2013. For 2012, PV shipments are expected to be in the range 1.7 GW to 1.8 GW, revised downwards from previous guidance of 1.8 GW to 2.0 GW.
California’s eight-year-old Online Privacy Protection Act figures in the state’s lawsuit against Delta Airlines Inc (NYSE:DAL), which alleges that the airline collects private information on its customers whenever they use its “Fly Delta” mobile application without informing them. The data collected includes information such as credit card numbers and dates of birth.
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