Shares of VimpelCom Ltd (ADR) (NASDAQ:VIP) ended Friday session in red amid volatile trading. The shares closed down -0.23 points or -6.34% at $3.40 with 95.73 million shares getting traded. Post opening the session at $3.41, the shares hit an intraday low of $3.32 and an intraday high of $3.53 and the price vacillated in this range throughout the day. The company has a market cap of $5.61 billion and the numbers of outstanding shares have been calculated to be 1.75 billion shares.
VimpelCom Ltd (ADR) (VIP) on Sept. 16, 2016 announced the pricing of an offering by selling shareholder Telenor East Holding II AS (“Telenor”) of 142,500,000 American Depositary Shares (“ADSs”), each representing one common share of the Company, at a public offering price of $3.50 per ADS. Telenor has granted the underwriters a 30-day option to purchase up to 21,375,000 additional ADSs at the offering price, less underwriting discounts and commissions. The offering is expected to close on September 21, 2016. In addition, in a transaction outside the United States to non-US persons pursuant to Regulation S under the U.S. Securities Act, Telenor has priced a USD 1,000,000,000 0.25 per cent bond due 2019 that will be exchangeable under certain conditions for up to a total of 204,081,633 ADSs (subject to adjustment) at an exchange price representing a premium of 40 per cent to the public offering price of the ADSs. The bond is expected to be issued on or about September 21, 2016.
Shares of Intel Corporation (NASDAQ:INTC) ended Friday session in green amid volatile trading. The shares closed up +1.11 points or 3.04% at $37.67 with 74.58 million shares getting traded. Post opening the session at $37.72, the shares hit an intraday low of $37.25 and an intraday high of $38.05 and the price vacillated in this range throughout the day. The company has a market cap of $175.90 billion and the numbers of outstanding shares have been calculated to be 4.73 billion shares.
Intel Corporation (INTC) on September 16, 2016 announced that third-quarter revenue is expected to be above the company’s previous outlook. The company now expects third-quarter revenue to be $15.6 billion, plus or minus $300 million, as compared to the previous range of $14.9 billion, plus or minus $500 million. The increase in revenue is primarily driven by replenishment of PC supply chain inventory. The company is also seeing some signs of improving PC demand.
The company is forecasting the mid-point of the third-quarter GAAP gross margin range at 62 percent, plus or minus a couple of points, up 2 points versus the prior third-quarter GAAP outlook gross margin midpoint of 60 percent, driven mostly by higher PC unit volume. The midpoint of the third-quarter non-GAAP gross margin range is now forecasted at 63 percent, plus or minus a couple of points, up 1 point versus the prior third-quarter non-GAAP outlook gross margin midpoint of 62 percent.
Third-quarter R&D plus MG&A spending is expected to be approximately $5.2 billion, $100 million higher than the prior expectation of approximately $5.1 billion. Third-quarter gains and losses from equity investments and interest and other income are expected to be a net loss of approximately $125 million, as compared to the prior expectation of a net loss of approximately $75 million. The tax rate for the third quarter is expected to be 22 percent, as compared to the prior expectation of 21 percent.