Streetbeat News

LNVGY

Lenovo Group Ltd.

https://www.lenovo.com

CEO

Yuanqing Yang

Open

23.73

Mkt cap

15B

Volume

14K

High

24.00

P/E Ratio

15.24

52-wk high

31.82

Low

23.66

Div yield

0.04

52-wk low

19.79

Lenovo Group Ltd. (OTC:LNVGY) will issue $2 billion in zero-coupon convertible bonds to Saudi Arabia's Public Investment Fund. The bonds will convert at a 12% discount to Lenovo's share price and represent about 12% of current capital upon maturity. Lenovo plans to establish an R&D center in Riyadh and expand production in the region. This move aligns with the PIF's strategy to diversify Saudi Arabia's economy and increase investments in Asian tech firms.

Portfolio Pulse from Benzinga Neuro

May 29, 2024 | 9:45 am

Lenovo Group reported a significant increase in its Q4 earnings per share (EPS) to $1.95, up from $0.93 year-over-year (YoY). The company's revenue also saw a rise to $13.833 billion, up from $12.635 billion YoY.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 5:12 am

The antitrust trial against Alphabet Inc (GOOG/GOOGL) has concluded, with a decision expected by year-end. The case, initiated by the Justice Department and 11 states in 2020, accuses Google of anti-competitive practices to maintain its search engine dominance, notably through payments to companies like Apple (AAPL) for default search engine status. The outcome could influence broader antitrust actions against big tech, including Amazon (AMZN) and Meta Platforms (META). Possible penalties for Google could range from breaking up the company to ending exclusivity agreements.

Portfolio Pulse from Natan Ponieman

May 09, 2024 | 6:21 pm

InterDigital was awarded an injunction against Lenovo by the Regional Court in Munich for infringing on a patent covering 4G and 5G devices. The court found InterDigital to have acted in a FRAND manner, while Lenovo was deemed an unwilling licensee not adhering to FRAND principles. This decision can be appealed.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 12:33 pm

Microsoft Corp. (NASDAQ:MSFT) and Meta Platforms Inc (NASDAQ:META) have announced a partnership to release a limited edition Meta Quest VR headset, inspired by Xbox. This collaboration includes a customized version of the Meta Quest 3, bundled with an Xbox controller and Game Pass, allowing for immediate access to gaming. The partnership aims to integrate Microsoft's gaming services with Meta's VR technology, marking a significant move in Microsoft's VR strategy despite past inconsistencies in the VR market.

Portfolio Pulse from Franca Quarneti

April 22, 2024 | 8:04 pm

Lenovo's Q3 fiscal results showed a 23% year-on-year profit drop to $340 million, despite sequential revenue growth. The company's future growth is pinned on AI PC models, amidst analyst skepticism and a bearish outlook on its server business. Lenovo plans significant R&D investment in AI, with two AI PC models launching soon. However, the global PC market's slow growth and potential U.S. restrictions on chip sales to China pose challenges. Competitors like Dell, Nvidia, and AMD could benefit from the AI PC trend.

Portfolio Pulse from The Bamboo Works

March 04, 2024 | 2:39 pm

Lenovo Group Ltd (OTC:LNVGF) (OTC:LNVGY) showcased a prototype laptop with a see-through screen at the Mobile World Congress in Barcelona. The device features AI-powered capabilities, including a camera that can identify objects behind the screen. Although it's a concept with no immediate sales plans, it highlights Lenovo's commitment to innovation. This comes as Lenovo's PC sales decline post-COVID-19 surge and amidst challenges like a call for a US ban on its computers impacting shares. Lenovo's recent moves, including a partnership with Baidu for AI integration in smartphones, aim to keep it ahead in the tech industry.

Portfolio Pulse from Benzinga Neuro

February 26, 2024 | 9:12 am

Baidu Inc has partnered with Lenovo Group Ltd to integrate its generative AI technology, Ernie, into Lenovo's smartphones. This move is part of Baidu's strategy to find practical applications for its AI models and reflects the growing trend of incorporating generative AI into smartphones. The partnership aims to leverage the unique market opportunity in China, where U.S.-based AI services are unavailable. Baidu, along with Alibaba and Tencent, is capitalizing on this gap by offering over 200 AI models in China. The integration of AI in smartphones is seen as a crucial step for the future of the industry.

Portfolio Pulse from Anusuya Lahiri

February 09, 2024 | 4:29 pm

Lenovo Group Ltd.'s (OTC:LNVGY) stock has surged over 30% since mid-October and 60% this year, driven by a global recovery in PC demand and excitement over AI products. The company's performance is its strongest since 2009, with optimism for continued growth into 2024. Lenovo's focus on commercial models and AI technology, including its first AI server project, has garnered positive views from analysts at Goldman Sachs and support from investors. Edmond de Rothschild Asset Management suggests the rally could persist if Lenovo meets its guidance and the market favors its AI PC applications.

Portfolio Pulse from kaustubh@benzinga.com

December 20, 2023 | 8:31 am

Lenovo has announced an expansion of its hybrid cloud platform for AI with new ThinkAgile hyperconverged solutions and ThinkSystem servers, powered by Intel's 5th Gen Xeon Scalable processors. These solutions aim to improve AI performance, cloud agility, and energy efficiency. Lenovo's TruScale for Hybrid Cloud offers as-a-service solutions for flexible AI performance, and the company has also introduced Professional Services for AI to guide organizations through IT deployments. The new offerings are designed to support AI, virtualization, and multi-cloud workloads and include partnerships with Microsoft, Nutanix, and VMware.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 3:02 pm

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