Mon, Feb. 23, 11:09 AM
- Yandex (YNDX -4.6%), Qiwi (QIWI -8.2%), VimpelCom (VIP -5.7%), and MTS (MBT -7.9%) are seeing fresh selling pressure after Moody's joined S&P in downgrading Russia's debt rating to junk, and the U.S. and U.K. raised the prospect of fresh Ukraine-related sanctions.
- Yandex is now down 3% from where it traded before providing better-than-feared Q4 results and Q1 guidance last Wednesday. Qiwi hasn't yet posted its Q4 report.
Tue, Feb. 17, 6:49 PM
- Goldman Sachs upgraded Turkish telecom Turkcell Iletisim Hizmetleri (NYSE:TKC) to Buy, from its previous rating of Neutral.
- Its move (along with Citi's price target hike) is a rare bit of analyst sunshine after shares faced downgrades the past few months.
- The stock continues to be responsive to ruble moves; today shares were down 1.7% despite Goldman's upgrade, as today the ruble slipped to 63.41/dollar.
- The company cited currency losses from its operations in Ukraine and Belarus in explaining net income that dropped by half.
- Other ruble-related telecoms: (VIP -2.6%), (MBT -2.7%)
Tue, Feb. 17, 10:02 AM
- Talks are gaining steam between Hutchison Whampoa and VimpelCom (NASDAQ:VIP) to merge their Italian wireless operations.
- There's no deal yet but a source says Hutchison's smaller 3 Italia (No. 4 of four competitors) would buy Wind Telecomunicazioni, VimpelCom's unit, in order to challenge market leader Telecom Italia (NYSE:TI).
- Il Giornale says managers for the two firms were meeting in London and a deal could be announced as soon as today.
- VIP currently -6.3%; MBT -3.4%, TKC -1.7% as the ruble sits at 63.14/dollar.
Mon, Feb. 9, 8:30 AM
- VimpelCom (NASDAQ:VIP) is adding Rozzyn Boy as Chief Communications Officer and as a member of the Group's Management Board.
- Boy comes from Tata Communications. CEO Jo Lunder says Boy's experience will help as VIP transforms business to "maximize the digital opportunity" across the company.
- After its rough ruble ride of the past year (down 55.2%), VimpelCom is up 9.8% over the past month.
Thu, Feb. 5, 12:14 PM
- Mobile TeleSystems (NYSE:MBT) is having another volatile day, up 12.3% now after analysts at Macquarie upgrade the stock to Neutral from Underperform.
- The shares also got an upgrade last week from Deutsche Bank, who raise the stock to Buy from Hold and raised price target to $12.70, from $9.00. MBT's currently trading at $9.77.
- MBT -- and Russian peer VimpelCom (VIP +6.9%) -- have been very sensitive to trading of the ruble, which is up slightly today at 66.65/dollar.
Tue, Feb. 3, 3:40 PM
- Another ruble gain, another up day for ruble-related telecoms as VimpelCom (VIP +12.1%), Mobile Telesystems (MBT +11.6%) and MiMES Rostelekom (OTCQX:ROSYY +3.5%) are all up strongly.
- The ruble gained to 65.22/dollar and the telecom firms have been heavily sensitive to the currency, all down more than 44% over the past year.
Mon, Feb. 2, 11:30 AM
- With the ruble gaining a bit of strength against the dollar (trading back around 68.8), telecoms with exposure to the currency are rising again.
- VimpelCom (NASDAQ:VIP) is having a field day, up 11.9%; Mobile TeleSystems (NYSE:MBT) up 5.2%; MiMES Rostelekom (OTCQX:ROSYY) up a bit at +0.3%; Turkcell (NYSE:TKC) up 1.7%.
- News of VimpelCom wrapping a $2.6B sale of its interest in Djezzy is still making the rounds. The firm was downgraded by Deutsche Bank on Thursday.
Fri, Jan. 30, 12:52 PM
- VimpelCom (NASDAQ:VIP) subsidiary Global Telecom Holding closed out its sale of a majority interest in Omnium Telecom Algeria, drawing $2.6B from the Algerian National Investment Fund.
- GTH will continue to hold operational control over the Algerian telecom, creating a public-private partnership.
- The deal makes room for VimpelCom pay down some gross debt and settles disputes the company filed against Algeria, following the payment of a $1.1B fine.
- VIP Shares are up 3.2%, swimming against the tide of ruble-relevant telecoms suffering today in the aftermath of a Russian interest-rate cut.
Fri, Jan. 30, 9:12 AM| 4 Comments
Thu, Jan. 29, 12:10 PM
- VimpelCom (NASDAQ:VIP) is off 1.5% in the wake of a Deutsche Bank downgrade to Hold from Buy.
- Deutsche lowered its price target on the stock to $4.10 from $6.70. Shares currently trade at $3.39.
- One of many Russia-related stocks pounded by the plunging ruble, VIP is down 58% over the past six months.
- Previously: YNDX, QIWI, VIP, MBT sell off (again) after ruble drops (again) (Jan. 26 2015)
Mon, Jan. 26, 1:21 PM
- The ruble/dollar exchange rate is down to 67.9 after the U.S. and EU threatened Russia with new sanctions in the wake of a new offensive by pro-Russian Ukranian rebels. Meanwhile, S&P has downgraded Russia's debt rating to BB+ (junk status) from BBB-.
- Yandex (YNDX -4%), Qiwi (QIWI -2.6%), VimpelCom (VIP -2%), and MTS (MBT -8.2%) aren't reacting well. Russia's MICEX Index fell 1.8% today. The dollar-based Russia Trading System Cash Index fell 5%.
Mon, Jan. 12, 2:59 PM
- Yandex (YNDX -3.1%), Qiwi (QIWI -6.5%), VimpelCom (VIP -3.1%) and MTS (MBT -4.2%) are following the ruble lower once more. The dollar/ruble exchange rate is currently at 63.05.
- In the news today: 1) Angela Merkel has warned about a lack of progress at a 4-way summit aimed at easing Ukraine tensions. 2) Goldman has cut its 3-month dollar/ruble target to 70 and its 12-month target to 60, citing the impact of low oil prices. 3) The Russian central bank discloses it has respectively spent $76B and €5.4B to prop up the ruble against the dollar and euro. 4) The president of Russia's regional banking association warns "a wave of bankruptcies" could hit the country.
Thu, Jan. 1, 2:19 AM
- Dow: INTC +41%; UNH +35%; HD +28%; CSCO +25%; MSFT +25%.
- S&P 500: LUV +125%; EA +106%; EW +95%; AGN +92%; AVGO +91%.
- Nasdaq: AAL +112%; EA +106%; AVGO +91%; GMCR +78%; ILMN +68%.
Dec. 31, 2014, 12:06 PM
- VimpelCom (VIP -6.1%), MTS (MBT -4.3%), Yandex (YNDX -2.6%), and Qiwi (QIWI -2.4%) are ending what has been a very tough year for nearly any Russia-related investment on a down note.
- The government's statistics ministry stated today 2014 inflation is expected to come in at 11.4% thanks to the ruble's plunge. Food prices are expected to post a 15.4% increase, non-food products an 8.1% increase, and service charges a 10.5% increase. Consumer prices are up 2.6% M/M in December.
- YTD declines: YNDX -58%. QIWI -63%. VIP -68%. MBT -65%.
Dec. 30, 2014, 5:36 PM
Dec. 18, 2014, 12:54 PM
- Russian carrier MTS (MBT +24.7%) has soared on a day Russia's MICEX index rose 4.5%. Rival VimpelCom (VIP +5.7%) and online payments firm Qiwi (QIWI +5%) are also outperforming.
- The ruble has seen relatively modest price swings today after plunging on Monday and Tuesday, and rebounding on Wednesday. The dollar/ruble exchange rate is currently at 61.04.
- Yesterday: Russian tech/telecom stocks rebound
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