Science & Technology
Science and Technology
Science and Technology
Wed, June 16, 2010
Tue, June 15, 2010 Qualcomm, Vodafone, Mahanagar Telephone Nigam, Tata Teleservices and Baker Hughes
CHICAGO--([ BUSINESS WIRE ])--Zacks.com Analyst Blog features: Qualcomm Incorporated (Nasdaq: [ QCOM ]), Vodafone Plc (Nasdaq: [ VOD ]), Mahanagar Telephone Nigam Ltd. (NYSE: [ MTE ]), Tata Teleservices Ltd. (NYSE: [ TCL ]) and Baker Hughes Inc. (NYSE: [ BHI ]).
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Here are highlights from Mondaya™s Analyst Blog:
Qualcomm Wins Auction in India
Qualcomm Incorporated (Nasdaq: [ QCOM ]) has won the BWA (broadband wireless access) spectrum in the 2.3 GHz band, in four telecom circles of Delhi, Mumbai, Haryana and Kerala in India for a total cost of about $1.045 billion.
After receiving the government's formal approval, Qualcomm will offer high-speed Internet access, as well as Internet telephony and television services in India by teaming up with one or more local operators.
Although Qualcomm is yet to declare the name of a partner for any specific circle, industry sources are abuzz with rumors that Qualcomm may join hands with several Indian wireless operators.
In New Delhi and Mumbai, the prospective service providers are Reliance Communications Ltd., Bharti Airtel Ltd., Vodafone Essar; a joint venture between Vodafone Plc (Nasdaq: [ VOD ]) and Essar Telecom and state-owned Mahanagar Telephone Nigam Ltd. (NYSE: [ MTE ]). In Haryana, the prospective service providers include Idea Cellular Ltd., Tata Teleservices Ltd. (NYSE: [ TCL ]) and Vodafone Essar. While in Kerala, Aircel Ltd., Idea and Tata Teleservices are the prospective service providers.
Qualcomm plans to sell its stake after creating an LTE (Long-Term Evolution) network to roll out broadband wireless access services. LTE is the emerging next-generation mobile technology that offers high-speed broadband and high-end multimedia services.
The fast growing broadband market is attracting billions of dollars for rolling out LTE networks in India in the coming years.
U.S. Rig Count Up Despite GoM Slip
In its weekly release, Houston-based oilfield services company Baker Hughes Inc. (NYSE: [ BHI ]) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), reflecting intensified drilling activity in Texas . This was partly offset by the growing oil spill in the U.S. Gulf of Mexico (GoM) and ensuing drilling ban in the region that pared back activity.
Rigs operating in the state of Texas climbed to their highest level in 16 months, while rig count in the GoM plunged further to a 16-year low of 20 (after dropping by a whopping 50% last week).
Rigs exploring and producing in the U.S. totaled 1,527 for the week ended June 11, 2010. This is up by 21 from the previous weeka™s rig count and represents the second highest level achieved this year, just behind the 1,535 attained for the week ended May 28, 2010. The current nation-wide rig count is 74% higher from the prior-year level and the 2009 low of 876. It rose to a 22-year high in 2008, peaking at 2,031 in the weeks ended August 29 and September 12.
The natural gas rig count increased for the first time in 3 weeks to 954 (a gain of 7 from the previous week). Buoyed by the week-over-week improvement, the number of natural gas rigs is just 19 short of the 14-month high of 973 hit during the week ended April 16. The U.S. gas drilling rig count has rebounded strongly after bottoming to a 7-year low of 665 on July 17, 2009. Still, the rig count remains 41% lower than its peak of 1,606 in late summer 2008. In the year-ago period, there were 685 active natural gas rigs.
The oil rig count was, however, up by 16 to 561, the fourth gain in the last 6 weeks. The current tally is considerably higher than the previous yeara™s rig count of 183. It has recovered nicely from a low of 179 in June 2009, more than tripling in number.
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