(Reuters) - Negotiations between Greece and its international lenders over reforms to unlock remaining bailout aid have made headway and
an agreement could be closer this month, a government official said on Sunday.
Prime Minister Alexis Tsipras's three-month-old government is under growing pressure at home and abroad to reach an agreement with European and IMF lenders over reforms to avert a national bankruptcy.
Talks have been painfully slow as the leftist-led government is resisting cuts in pensions and labour reforms that would clash with its campaign pledges to end austerity.
"There were very important steps made at the Brussels Group (talks) which bring an agreement nearer," the official said, declining to be named.
"All sides aim for an agreement at a Brussels Group level within May."
The talks between technical teams from Athens and EU/IMF/ECB lenders are expected to resume on Monday, the official said after the country's chief negotiators met with Prime Minister Alexis Tsipras.
A euro zone official also said there was convergence on some issues but sticking points remained and that talks were expected to continue through Wednesday.
Athens hopes that a successful conclusion of the negotiations at the so-called Brussels Group could lead to recognition of the progress by the Eurogroup of euro zone finance ministers and bring some liquidity relief.
In a report published Thursday, Morgan Stanley analysts upgraded the rating for Nokia Corporation
from Equal-Weight to Overweight, while raising the price target from #$%$6.30 to #$%$8.70. The analysts believe that the new Nokia story is largely "misunderstood."
Investors seemed to have bought Nokia shares due to upside potential from patents with Samsung and Apple. With Nokia entering into a deal to purchase Alcatel Lucent SA
, "the equity story of Nokia is changing to a long restructuring journey" and may not appear that appealing in the short-term. Hence, investor response to the deal has been mixed.
"While the story is now different, we find it more appealing than before AND more appealing than Ericsson, its closest peer," the analysts said.
In the report Morgan Stanley noted, "We previously argued that Nokia's product portfolio was narrow...With Alcatel, Nokia now has exposure to the #2 edge routing player, taking share in both edge and core, a strong footing in the consolidating optical market, and a duopoly position in the growing wireline access market."
"In the US, Nokia will now supply to all big four wireless operators and now has enough scale to compete with Ericsson and Huawei on 5G. The larger Nokia will have doubled its patent portfolio too – which makes the patent story more credible. On a relative basis, we find this product portfolio stronger than Ericsson on paper in a consolidating market," the analysts wrote.
While saying that the restructuring journey "is less risky than it looks," the analysts commented that Nokia's share price does not reflect the 25 percent accretion from the deal, the potential of 18 percent EPS CAGR from 2016 to 2019 and the #$%$10bn cash pile.
Renren (RENN) Reports Q4 Revenue of $17.2M, OQ1 Rev. Guidance Misses
5:46 PM ET, 03/18/2015 - StreetInsider
Renren (NYSE: RENN) Q4 Adjusted net income was US$43.2 million, compared to an adjusted net income of US$104.7 million in the corresponding period in 2013. Revenue for the quarter came in at $17.2 million versus the consensus estimate of $16.3 million.
The Company expects to generate revenues in an amount ranging from US$11 million to US$13 million in the first quarter of 2015, representing 44.2% to 52.8% year-over-year decline.
(Street sees Q1 revenue of $29.72 million)
NQ Mobile (NQ) Tops Q4 EPS by 1c; Guides FY15 Revenue Above Expectations
5:01 PM ET, 03/18/2015 - StreetInsider
NQ Mobile (NYSE: NQ) reported Q4 EPS of $0.03, $0.01 better than the analyst estimate of $0.02. Revenue for the quarter came in at $89.7 million versus the consensus estimate of $83 million.
Average Monthly Active User Accounts as of December 31, 2014: 160.8 million
"We are pleased to report record revenues both for the fourth quarter and the full fiscal year of 2014, as we continued our transition toward the traffic-based mobile entertainment business," said Dr. Vincent Wenyong Shi, Chairman, Chief Operating Officer and Acting Chief Financial Officer of NQ Mobile. "With the challenging year of 2014 now behind us, our transition is in full swing as we firmly further execute our various strategic initiatives. In addition to our top-line growth, we were also encouraged to see sequential improvement for our margins that indicates stabilization of profitability. We believe we are well-positioned to capture the growth opportunities in the mobile internet landscape."
NQ Mobile sees FY2015 revenue of $450 - $455 million, versus the consensus of $424.0 million.
Litt said the value of the company is $33 a share a could be as much #$%$ a share, according to the statement.
MGM said in February that it was evaluating options including a REIT structure.
“The concept of converting gaming assets to REITs is not a new one,” Chief Financial Officer Dan D’Arrigo said on a conference call at the time. “We look at this all the time. We believe that our assets are undervalued.”