Lenovo 0992

Re: Lenovo 0992

Postby winston » Mon Jan 04, 2016 11:00 am

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Lenovo: How Far Can Share Gains Go? Morgan Stanley Cuts Target

By Shuli Ren

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... ts-target/
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Re: Lenovo 0992

Postby winston » Tue Feb 02, 2016 11:52 am

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<Research Report>M Stanley Expects Lenovo Group to Post Good Results in Last Quarter; Share Price to React Positive in Near Term

Morgan Stanley expected LENOVO GROUP (00992.HK) to post satisfactory results in the last quarter, mainly due to a quick boost from massive OPEX cuts with the mobile business likely turnaround before amortization charges.

The research house expected LENOVO GROUP's share price to react positively to the results in the near term.

However, the share price rally should be temporarily as Morgan Stanley sees challenges of the group's prospect given the unsolved structural issues of smartphones and potential PC channel inventory. Hence, the rating was retained at Equalweight, with a target price of $7.2.

The broker expected total sales to grow [b]10% QoQ [/b]in the previous quarter, with pretax profit reaching US$354 million. However, as quoted from the IDC report, the group's 3Q PC shipments gained 3% QoQ to 15.4 million units.

Lenovo and Moto smartphone shipments gained 7% YoY to 20.2 million. Both figures missed the estimates of Morgan Stanley. Consequently, the improvement of results in the preceding quarter was mainly attributable to the group's large OPEX reduction.

The group's 3Q results were satisfactory, while the results were disappointing in the last quarter.

It is noted that December quarter is usually the peak of the year due to seasonal strength. The crux is that whether such improvement can be sustained, especially when Lenovo is facing not only a shrinking PC market, but also likely weakening sales for smartphone sales.

Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Wed Apr 13, 2016 7:13 am

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Lenovo Rising: Boasts of Taking U.S. PC Share from Apple

By Tiernan Ray

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... rom-apple/
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Re: Lenovo 0992

Postby winston » Tue May 10, 2016 10:46 am

Lenovo: Smartphone Shipments Plunged; Sell, Says Morgan Stanley

By Shuli Ren

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... n-stanley/
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Re: Lenovo 0992

Postby winston » Fri May 27, 2016 9:50 am

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Lenovo’s Revenue Plunges, Even Data Center Sales Turn For The Worse

By Shuli Ren

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... the-worse/
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Re: Lenovo 0992

Postby winston » Thu Jun 02, 2016 6:29 am

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Google is offering 371 million Lenovo shares in the range of HK$4.56 to HK$4.62 per share, a discount of up to 4 percent to the last traded price, the terms showed. Morgan Stanley is sole bookrunner.

Lenovo reported its first loss in six years last week, due to weak sales for its smartphone businesses and costs of restructuring and acquisition.

Back in February 2014, after Lenovo had bought Motorola's handset division from Google, the internet giant bought a 5.94-percent stake in the firm for US$1.213 per share.

Selling the shares now would result in a a loss of about HK$1.79 billion.

Google now holds less than a 5-percent stake in Lenovo.


Source: Reuters
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Re: Lenovo 0992

Postby winston » Thu Jun 02, 2016 11:31 am

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LENOVO GROUP Dives 5% since Google Parent Said to Cut Stakes

LENOVO GROUP (00992.HK) recorded four large pre-open transactions with a total of 371.5 million shares at $4.58 per share (at 3.6% discount to the closing price of 1 June) this morning.

The stock breached below placing place this morning to the bottom of $4.5, hitting 4.5-year low. It last printed at $4.51, down 5%, on volume to 528 million shares, on turnover of $2.4 billion.

Google's parent plans to sell approximately 371 million shares of LENOVO GROUP at $4.56-4.62 per share to cash in approximately $1.7 billion, foreign media quoted from sales documents, as saying.

Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Thu Jun 02, 2016 11:55 am

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<Research Report>Citi: LENOVO GROUP Downside Limited; Concerns about Smartphone Outlook

Citigroup, in its report, pointed out that foreign press reported that Google plans to sell up to US$221 million worth of LENOVO GROUP (00992.HK) shares in an indicative range of HK$4.56-4.62/share. The price is equivalent to a discount of 2.7%-4% to the latest closing price.

The broker maintained the target price at $5.1 with rating Neutral, as it believed that the share price upside is capped by concerns over a soft PC market and continuous mobile business loss. However, the downside is also limited, supported by earnings growth and dividend yield of 5.6%.

The market is concerned about the timing of a smartphone turnaround, while Citigroup estimated an operating profit breakeven in December 2016-quarter.

Moreover, investors are also concerned about potential risks of a goodwill write-off. Lenovo booked US$1.7 billion goodwill from the Motorola acquisition.

Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Fri Jun 10, 2016 12:58 pm

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LENOVO GROUP Soars Over 3% amid Weak Market; New AR Smartphones Unveiled

LENOVO GROUP (00992.HK)'s share price ascended for three trading days.

This morning, it reclaimed 20-day MA ($4.87), peaking at $4.96, and last at $4.93, soaring 3.1% amid weak market, representing the strongest blue chip so far, on volume of 60.37 million shares.

Lenovo Group unveiled the first AR smartphone based on Google?s Project Tango at Tech World 2016 in San Francisco today (10 June).

Lenovo's Phab2 Pro has four cameras, including one designed to help perceive depth, as well as motion-tracking technology. It would be available in September for US$499 on an unlocked basis.

Source: AAStocks Financial News
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Re: Lenovo 0992

Postby winston » Fri Jun 10, 2016 2:41 pm

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<Research Report>Macquarie: LENOVO GROUP Priced in Negatives; to See Positive Signals

Macquarie has participated in LENOVO GROUP (00992.HK)'s Tech World and also discussed with the company's management for the brand strategy of Yoga, Moto and Lenovo.

The research house remains positive for LENOVO GROUP and appreciates the company's acknowledgement of lessons learned and execution on transition.

It is believed that the negatives have been factored in the share price and the valuation is appealing at 7x 2017 P/E.

The target price was maintained at $8.8, with a rating of Outperform.

Source: AAStocks Financial News
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