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Hitachi Ltd. ADR (HTHIY)

- OTCPK - Current
  • May 28, 2012, 6:34 AM
    Renesas (RNECY.PK) plunged 10.6% in Tokyo following reports that it intends to slash at least 12,000 jobs, sell loss-making operations, and raise ¥100 B ($1.26B) in fresh capital. Renesas said today that it would outsource the production of its high-end chips to Taiwan's TSMC, which may buy a Renesas fab.
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  • Mar. 26, 2012, 8:01 PM
    Hitachi (HIT +3.6%) says it plans to cut its annual costs by 5%, or $5.4B a year, by fiscal 2015. The company plans to consolidate some electronic-parts operations, use cloud computing to cut down on servers, and trim some employee benefits. It plans to use the funds on building its social infrastructure, telecommunications and other growth fields.
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  • Mar. 9, 2012, 4:58 AM
    Hitachi (HIT) will book a ¥191B ($2.4B) special profit on the sale of its U.S. hard disk drive business to Western Digital. Hitachi is checking how the special profit might impact its forecast for a net profit of ¥200B for the year to March 31.
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  • Mar. 6, 2012, 6:55 PM
    Western Digital (WDC) and Hitachi (HIT) announce that they've obtained all required regulatory approvals for WD's acquisition of Viviti Technologies, and expect the acquisition to close on March 8. WDC +0.6%, HIT -1.7% AH.
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  • Feb. 29, 2012, 9:29 AM
    Western Digital (WDC+2.1% premarket after agreeing to sell Toshiba a portion of Hitachi's (HIT) 3.5-inch drive business to ease regulatory concerns over its planned acquisition by WDC. Brean Murray raises its price target to $45 from $42, noting the newspaper Nikkei reported the volumes to be sold were ~25K units, or ~25%-30% of estimated 2012 HIT volume.
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  • Jan. 25, 2012, 8:09 PM
    Japanese shares reverse opening gains to trade lower this morning on some early profit taking. The Nikkei Average is currently down 0.1% at 8,876 with exporters leading the selling: Toshiba (TOSYY.PK 1.7%), Sharp (SHCAY.PK -0.6%), Hitachi (HIT +1.2%) and Elpida Memory (ELPDF.PK -2.9%).
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  • Jan. 23, 2012, 5:24 AM
    Hitachi (HIT) will stop making televisions as of the end of September, but will continue to sell its Wooo television brand, which is made by outside contractors. TV makers globally have struggled to make money in the overcrowded, low-margin market. (see also)
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  • Jan. 3, 2012, 7:43 PM
    Japanese shares jump higher in early trading, on the back of solid gains in the U.S. overnight. The Nikkei Average is currently up 1.25% with exporters leading: Sony (SNE +1.37%), Hitachi (HIT +1.7%), Fujitsu (FJTSY.PK +2.7%).
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  • Dec. 27, 2011, 8:48 AM
    The Chinese government asserts Western Digital's (WDC) planned purchase of Hitachi's (HIT) hard drive division will "exert a negative impact on Chinese consumers," and says it will seek "appropriate solutions" to deal with the issue. Chinese regulators already drove a hard bargain with Seagate (STX) over its purchase of Samsung's hard drive unit. (EU approval)
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  • Dec. 13, 2011, 9:10 AM
    In spite of the company's soft FQ3 guidance and market share losses, JPMorgan is remaining bullish on NetApp (NTAP). The firm thinks recent execution issues have been overcome, and expects the rollout of version 8.1 of its Data ONTAP operating system to act as a catalyst by bolstering NetApp's offerings for "scale-out" storage deployments. EMC, HPQ, and HIT have each recently acquired scale-out specialists (I, II, III).
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  • Nov. 29, 2011, 8:14 AM
    Another rumor emerges that the next iPhone (AAPL) will contain a 4-inch display: Japanese site Macotakara claims Hitachi (HIT) and Sony (SNE) have begun shipping 4-inch LCDs for use in future iOS devices. Sales are booming for Android phones with 4"+ displays, such as Samsung's Galaxy S II. The Galaxy Nexus will soon join their ranks.
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  • Nov. 28, 2011, 8:21 PM
    Japanese stocks are higher in early trading, tracking Wall Street gains overnight. The Nikkei Average is currently +1.10% to 8,364, with exporters leading: Nissan (NSANY.PK +1.88%), Sharp (SHCAF.PK +2.1%), Nintendo (NTDOY.PK+2.18%, and Hitachi (HIT +2.7%).
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  • Nov. 23, 2011, 9:27 AM
    Western Digital (WDC) gains 0.8% after its acquisition of Hitachi's (HIT) hard drive business is given a green light by EU regulators. In return for the go-ahead, Western Digital has agreed to sell a hard drive manufacturing plant and other "essential production assets." Archrival Seagate's (STX) purchase of Samsung's hard drive division was cleared in October. (yesterday)
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  • Nov. 21, 2011, 9:19 AM
    FBN is upgrading NetApp (NTAP) to Outperform, following a 15% drop in its stock price since a disappointing FQ2 report (I, II, III). While believing NetApp's direct sales business has lost share to EMC and Hitachi (HIT) over the last 2 quarters, the firm believes reseller sales, which now account for the bulk of its revenue, remain strong.
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  • Nov. 16, 2011, 12:25 PM
    Western Digital (WDC +8.4%) jumps after Reuters reports that the EU plans to conditionally approve its bid to acquire Hitachi's (HIT -1.4%) hard disk drive business. Separately, the company also says it's inked a supply agreement with TDK for hard-disk-drive components starting in the first quarter, which should alleviate some of the production problems the company is experiencing due to  Thailand floods. 
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  • Nov. 15, 2011, 8:14 AM
    Sony (SNE), Hitachi (HIT), and Toshiba (TOSBF.PK) are unveiling their previously announced display JV, creatively calling the new company Japan Display Inc. The venture will be operated and 70% owned by a government-backed firm called INCJ. AUO, LPL, and other display makers are hoping the consolidation provided by the JV will help relieve industry price pressures.
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Company Description
Hitachi and its subsidiaries are engaged in the development, production, sale and service of electrical machinery, semiconductors and computers. Co. is divided into seven business divisions: information & communication systems, electronic devices, digital media & consumer products, high... More
Country: Japan