re: Nokia competitor Openwave
See bolded last lines.
Note: Openwave (formerly Phone.com) WAP microwbrowser is used in virtually all CDMA phones (Nokia 8% the exception), many TDMA phones, and the UP server by many CDMA carriers and the Openwave messaging platform looks pretty strong.
>> Openwave Shares Continue To Rise On Earnings
January 24, 2001
Reuters
Openwave Systems Inc. (OPWV) shares continued to rise on Wednesday, gaining more than 8 percent two days after the wireless infrastructure software developer posted a quarterly operating profit ahead of schedule and raised its expectations for 2001.
Openwave shares were up as high as $75-1/4 before settling a bit at $70-7/8 in early afternoon trade, $4-5/8 higher than Tuesday's close. Its year-high was $208 and its year-low was $23-14/16.
Analysts said the company's stock was continuing to rise on its strong earnings report and 2001 outlook. On Tuesday, a number of brokerages, including Goldman Sachs, Lehman Bros. and Credit Suisse First Boston raised estimates for Openwave.
"The company posted very strong earnings two days ago. The underlining metrics were very strong. Forward looking guidance increased," said Matt Finick, an analyst with Thomas Weisel Partners.
Finick added that investors, wary of underperforming stocks, were attracted to the company's solid financial results.
Peter Friedland, an analyst with WR Hambrecht & Co., said Openwave's new contract with China Mobile Communications Corp. to supply mobile Internet services was also moving the stock.
"It's a huge win for Openwave and it's a win against Nokia," he said.
Finland's Nokia Corp. (NOK) competes with Openwave in the wireless Internet infrastructure software market. <<
- Eric - |
