BANGALORE, Aug 5 (Reuters) – Low-cost wireless carrier
MetroPCS Communications Inc (PCS.N: Quote, Profile, Research, Stock Buzz) reported a quarterly profit
that beat market estimates, driven by strong growth in new
subscribers and fewer customer dropouts, sending its shares up
The company offers unlimited prepaid services, where
customers pay a monthly fee in advance for unlimited phone
calls without committing to a long-term contract.
BANGALORE (Reuters) – Garmin Ltd (GRMN.O: Quote, Profile, Research, Stock Buzz) reported a quarterly profit that topped market estimates as it benefited from revenue growth in all segments and regions, sending its shares up 3 percent.
But the No. 1 U.S. portable navigation device (PND) maker cut its revenue outlook range for the year, citing unfavorable foreign exchange movements and a slight decline at its PND segment. It maintained its earnings per share outlook.
BANGALORE, Aug 3 (Reuters) – Cognizant Technology Solutions
Corp (CTSH.O: Quote, Profile, Research, Stock Buzz) reported a profit that topped market estimates
for the sixth straight quarter, helped by a surge in
discretionary projects, and raised its 2010 revenue outlook
well above what the Wall Street was looking for.
The Teaneck, New Jersey-based IT services provider
outperformed its larger India-based rivals, pushing its shares
up 5 percent in trading before the bell.
SAN FRANCISCO/BANGALORE, Oct 14 (Reuters) – Wal-Mart Stores
Inc <WMT.N> will sell cut-price mobile services nationwide,
threatening to exacerbate a price war and hurt profit margins
across the U.S. wireless sector.
The move pits Wal-Mart, teamed with a company owned by
Mexican billionaire Carlos Slim, against low-cost carriers such
as Leap Wireless International Inc <LEAP.O> and MetroPCS
<PCS.N> and Sprint Nextel’s <S.N> Boost Mobile.
SAN FRANCISCO/BANGALORE (Reuters) – Wal-Mart Stores Inc <WMT.N> is expanding an offering of cut-price mobile services nationwide, putting further pressure on rivals such as Leap Wireless International Inc <LEAP.O> and MetroPCS <PCS.N>.
Shares of Leap and MetroPCS both fell after Wal-Mart announced on Wednesday the expansion to more than 3,200 stores from 234 of the service, developed with TracFone Wireless Inc, the U.S. unit of Mexican cell-phone giant America Movil <AMXL.MX> <AMX.N>, owned by billionaire Carlos Slim.