For Immediate Release
Chicago, IL – July 8, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Telefonica (TEF), Palm Inc (PALM), Apple Inc (AAPL), Sprint Nextel (S) and Vodafone (VOD).
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Here are highlights from Tuesday’s Analyst Blog:
Telefonica Wins Palm Pre
On July 7, 2009, top Spanish telecom operator Telefonica (TEF) announced that it has been awarded the exclusive right to distribute Palm Inc’s (PALM) recently released smartphone “Pre” in the selected European markets.
The company’s wireless arms O2 and Movistar will exclusively sell the premium handset when it becomes available in specified European countries during the holiday season in December 2009. O2 has received the right to market Pre in the UK, Ireland and Germany, while Movistar will have exclusivity in Spain.
Like Apple Inc’s (AAPL) iPhone 3G (and the latest 3GS version), Palm Pre is equipped with the most advanced cellular technology and embedded features available in the 3G handheld market today. The high profile handset was launched in the U.S. on June 6, 2009 with Sprint Nextel (S) being the exclusive dealer. Palm Pre has generated strong market response, having sold 90,000 to 100,000 units in the first week of the launch.
Telefonica’s Spanish and European wireless operations are currently struggling with declining revenues and lower subscriber growth levels reported in the most recent quarter as weak economic conditions across these key markets are affecting customer usage levels supported by intense competition. Additionally, reduced tariff rates imposed by Spanish and European regulations are tightening wireless revenue per user.
Palm Pre represents the second most significant handset deal for both O2 and Movistar as they are already the exclusive distributors of iPhones (including 3GS) in Britain and Spain, respectively. The ability to market two of the most sought after handset brands will strengthen O2’s competitive position over its biggest rival Vodafone (VOD).
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