Lenovo 0992

[iam802]

Lenovo CEO Yang Increases Stake

http://english.caijing.com.cn/2011-06-20/110751004.html

Key Points:

Mr. Yang paid 3.95 Hong Kong dollars per share for around 797 million shares from Legend, at a discount of 5.2 percent from last Friday’s closing price of 4.17 Hong Kong dollars.

[winston]

not vested

Lenovo Sees Hard Disk Supply Constraints on Thai Floods

HONG KONG (Reuters) - Lenovo Group Ltd, the world’s No.2 PC maker, said on Wednesday that it expected some constraints on hard disk drive supplies through the first quarter of next year, after severe floods in Thailand crimped global supply.

http://www.newsmeat.com/news/meat.php?a ... &buid=3281

[winston]

Lenovo Q2 profit up 88 percent, beats forecast
by Lee Chyen Yee and Huang Yuntao

HONG KONG (Reuters) - Lenovo Group Ltd, the world's No.2 PC brand, posted a better-than-expected 88 percent rise in second-quarter profit, helped by acquisitions and an increase in sales in emerging markets such as China.

"Uncertainties over global economic recovery, the renewed debt crisis in Europe, and tablet PC cannibalization of entry-level consumer PCs remain," Lenovo said in its earnings statement.

Worries over a shortage of hard disk drives due to severe floods in Thailand and weak demand in developed markets such as the United States and Europe were likely to dim the outlook for Lenovo and its PC peers, analysts said.

On Wednesday, Lenovo reported a profit of $143.92 million for the second quarter ended September, up from $76.59 million a year earlier.

The result beat an average profit forecast of $118.3 million from eight analysts polled by Thomson Reuters I/B/E/S.

The company, which overtook Dell Inc this year to claim the No.2 spot in the third quarter, trails leader Hewlett-Packard Co after a series of acquisitions in Japan and Germany.

In June, Lenovo agreed to buy Germany's Medion AG in a deal valuing the German company at up to $900 million, its biggest acquisition since its purchase of International Business Machines Corp PC business six years ago.

The Medion deal also came months after it signed a joint venture agreement with NEC Corp to sell laptops in Japan.

Lenovo, one of China's best-known consumer brands, had a 13.7 percent share of the global PC market in the third quarter, according to research firm IDC.

Source: Reuters US Online Report Technology News

http://www.newsmeat.com/news/meat.php?a ... &buid=3281

[winston]

not vested

DJ MARKET TALK: Lenovo Hits 52-Week High; CS, UOB Both Positive

1017 [Dow Jones] Lenovo (0992.HK) pulls back slightly from a 52-week high of HK$6.04 set earlier, now +6.3% at HK$5.95;

Volume is robust at HK$230 million in the first half an hour of trade, already more than Wednesday's full-day volume.

Lenovo is rallying after posting robust fiscal 2Q results, as it expands and take market shares from PC rivals.

Credit Suisse says Lenovo tempered expectations next quarter due to Thailand floods, but is consistent with its peers and prudent;

The house trims Lenovo target to HK$6.30 from HK$6.50 to factor in Thailand risks but keeps its Outperform call.

Separately, UOB KayHian says that although some investor holds a cautious view on Lenovo, as other industry players like are pointing to a more cautious outlook for demand side, "we want to highlight that the group doesn't have much exposure to consumer and public segments in the U.S., which might be the reason for management's positive tone."

Source: Dow Jones Newswire

[winston]

not vested

DJ MARKET TALK: Lenovo May Face Challenges In Next 2 Quarters - BOCI

1427 [Dow Jones] Lenovo (0992.HK) is up 4.3% at HK$5.84 on a hefty volume of 92 million shares;

Full-day volume is set to surpass 100 million shares, the first time since March.

While it's fiscal 2Q results beats view convincingly, BOCI says given the HDD shortage caused by the recent floods in Thailand and the possible economic slowdown in China next year, Lenovo should face challenges in the next two quarters.

"We maintain our view that the company is still in a high-growth cycle and that its market share expansion trend should continue," BOCI says, but as it believe the challenges will be short-term only, it leaves its Buy rating and a HK$6.25 target price intact.

Source: Dow Jones Newswire

[winston]

not vested

DJ Lenovo Fiscal Year Net Profit Rises 73%

BEIJING (Dow Jones)--Lenovo Group Ltd. (0992.HK) said Wednesday its fiscal year net profit rose 73% as its growth in personal computer sales outpaced that of the PC market.

Net profit for the 12 months ended March 31 was US$472.99 million, up from US$273.2 million a year earlier.

Revenue rose 37% to US$29.6 billion from US$21.6 billion.

The company declared a final dividend of HK$0.10 for its last fiscal year, compared with HK$0.05 a year earlier.

Lenovo, which bought International Business Machines Corp.'s personal computer business in 2005, is China's largest PC maker by shipments. It is the world's second-largest PC maker behind Hewlett-Packard Co.

Source: Dow Jones Newswires

[winston]

Lenovo Falls on Report of Lower Growth Guidance: Hong Kong Mover By Mark Lee

Lenovo Group Ltd. (992), the world’s second-biggest maker of personal computers, fell the most in more than two years in Hong Kong trading after a report said the company lowered its guidance for shipment growth this year.

Lenovo fell as much as 9.4 percent to HK$6.77, the most since Feb. 5, 2010. The stock has gained 32 percent this year, outperforming the 4.9 percent increase in Hong Kong’s benchmark Hang Seng Index.

Lenovo told suppliers that shipment growth this year will be between 13 percent and 15 percent, compared with an earlier guidance of as much as 25 percent, China Times reported without saying where it got the information.

“The company may miss out on back-to-school season sales this year” as consumers wait for computers fitted with Microsoft Corp. (MSFT)’s planned upgrade of the Windows operating system, said Jean-Louis Lafayeedney, who rates Lenovo neutral at JI Asia in Hong Kong.

Lenovo expects to increase revenue by between 10 percent and 20 percent in the year ending March 2013, helped by demand in emerging markets, Chief Financial Officer Wong Wai Ming said last month. The company will also post improvements in its profit margins, he said at the time.

http://www.bloomberg.com/news/2012-06-2 ... mover.html

[winston]

not vested

Chinese computer giant Lenovo Group dived 9.4 percent, after a Taiwanese newspaper reported that the company has halved its personal computers shipment growth projection.

But analysts contacted by Reuters expressed doubts about the report, saying that it is not Lenovo's usual practice to provide guidance that involves such precise figures.

Prior to Thursday, Lenovo had climbed 12 percent from its May 29 low. Thursday's close was its lowest since June 6.

"There was a big spurt up particularly in the last week or so, so this could just be hedge fund managers taking some profits. We need to wait for the company to make some clarification," said Eve Jung, a Nomura analyst in Taipei.


Source: Reuters

[winston]

not vested

DJ MARKET TALK: Lenovo May Recover; Reiterates Guidance -Barclays

0909 [Dow Jones] Lenovo (0992.HK) may regain some of its losses Thursday, after a research report from Barclays on Friday says Lenovo's management reiterated its previous guidance of 15%-20% PC shipment growth in 2013 for the fiscal year ending March 31.

On Thursday, Lenovo's ADRs fell 8.7% to $17.55 after several online news outlets reported, without citing sources, that Lenovo had cut its shipment growth target for the fiscal year 2013.

"The drop in Lenovo's share price Thursday, following an apparently misleading newspaper report, suggests a lack of confidence from the investor community," the house says.

It adds that PC demand in the current 2Q appears weaker than the house had previously expected, but demand for notebook PCs, desktops and motherboards is holding up well.

It keeps Lenovo at Overweight with a target price HK$8.50.


Source: Dow Jones Newswire

[winston]

vested

DJ MARKET TALK: Lenovo Rebounds, +1.0%; Time To Take Profit-Analyst

1019 [Dow Jones] Lenovo (0992.HK) reverses earlier losses, rising 1.0% to HK$6.84, vs the HSI's 1.3% fall.

The stock had shed 9.4% Thursday in HK on reports that it has cut shipment guidance for the fiscal year ending March 2013; the PC maker subsequently denied the report, saying guidance remains unchanged.

A Taipei-based analyst at a European bank says, while yesterday's reports on Lenovo were not true and it remains a market leader, global PC demand indeed is weak and some investors would rather lock-in profits when they're not confident at the sector;

"Lenovo's market share is rising in a market that is shrinking."

The analyst also says Lenovo has been outperforming the broader market for quite a while, and now is a good excuse for some to take profit.


Source: Dow Jones Newswire