News Recap: International Business Machines, Cree, Delta Air Lines, Sutor Technology Group


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NYSE:IBM / NASDAQ:CREE
03/05/2013 [ACCESSWIRE]

NEW YORK, March 05, 2013 - vb-news.net, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on International Business Machines, Cree, Delta Air Lines, Sutor Technology Group.

International Business Machines Corp.(NYSE:IBM) on Monday announced that all its cloud services and software will be based on open cloud architecture. 

AllThingsD said that this was good news for potential IBM customers because it means they can mix and match service and equipment vendors — Dell, Hewlett-Packard and Rackspace are also big OpenStack fans — without worrying about getting stuck with one.

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IBM's first move in this direction will be to set up a private cloud service based on OpenStack. A new software called IBM SmartCloud Monitoring Application Insight will monitor the progress and availability of cloud applications.

Airline operator Delta Air Lines, Inc.(NYSE:DAL) said that its revenue passenger miles fell more than 2 percent in February on year to 12.7 billion.

Total revenue passenger miles is a key metric in the airlines industry measuring the total distance travelled by paying customers.

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Available seat miles for the airlines fell 5 percent during the same period to just above 16 billion.  Delta reported that the number of boarded passengers fell to 11.1 million, a drop of almost 3 percent from February 2012's figure.

Cargo ton miles declined 3.5 percent on an annual basis, coming in at 179 million.

Sutor Technology Group Ltd.(NASDAQ:SUTR) continued to hit a 2-year high on Tuesday and soared 6.55% to $2.28 after hitting a high of $2.35. The stock has risen over 120% over the past one month as the company had reported solid quarterly earnings.

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On February 07, 2013, the company posted fourth quarter profit of 12 cents a share, compared to analysts estimates of 6 cents. Revenue also topped analysts’ forecast.

Cree, Inc.(NASDAQ:CREE) shares soared 14% on hefty volume after the company boosted its third quarter guidance and now projects to earn $335M-$350M and EPS of $0.31-$0.36 vs. prior guidance of $325M-$345M and $0.30-$0.35, and a consensus of $336.1M and $0.33.

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The company also announced new, aggressively-priced LED bulbs: Home Depot will sell a 40W-replacement bulb for $9.97, and 60W-replacements for $12.97 and $13.97.

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