Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News


Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Telenor ASA Stock Volume Soars amid Expansion of Mobile Services in India

03/25/2014 | 09:05am US/Eastern

Norwegian mobile-phone service provider Telenor ASA (OTCPINK: TELNY) stock volume shot through the Stratosphere Mar. 24, with 625,344 shares changing hands, 25 times its three-month average of 25,623.

The surge in Telenor's volume could be tied in part to recent news that the company purchased a substantial amount of spectrum in India, which included 1800 MHz band in four of its six existing circles - Uttar Pradesh East, Uttar Pradesh West, Bihar and Jharkhand and Andhra Pradesh.

Telenor Group is one of the world's major mobile operators with 166 million mobile subscriptions. It currently has mobile operations in 13 markets and in additionally 17 markets through its ownership in VimpelCom Ltd.

Telenor Group includes:

- Strong footprint in Central and Eastern Europe and Asia
- Leading Nordic position in mobile, broadband and TV services
- Substantial activities in subsidiaries and joint venture operations
- One of the top 500 global companies by market value *
- Among the top performers on Dow Jones Sustainability Indexes
- 33,000 employees worldwide
- Revenues 2013: NOK 104 billion

On Mar. 24, TELNY's share price closed at $64.58, up 58 cents from its closing price of $64.00 the previous day.

Sign up today for timely and hot stock alerts here, or by cutting and pasting the following link in your Web browser:


Fannie Mae's Share Slide and Volume Surge Slow Down

In other news, a senate bill that would scrap Fannie Mae and replace it with a new entity is has been hurting its share value for the last month, however the downward slide appears to be losing momentum.

On Mar. 24, Fannie Mae's (OTCQB: FNMA) stock value closed at $3.55, down 3 cents, from its close of $3.55 the previous day, with a stock volume of 13,993,285, half than its three-month average volume of 28,291,512 shares.

Just a month ago, FNMA share price was $4.04. Industry experts contend that Fannie Mae?s continuing share-value slide is being fueled by new legislation being proposed in the Senate.

Higher Down Payments and Greater Bank Liability

If passed, the bipartisan measure would replace the Fannie Mae and Freddie Mac with a newly- created government reinsurer called the Federal Mortgage Insurance Corp. The new entity, funded by user fees, would then issue a federal guarantee for mortgage bonds that would go into place only after private creditors had taken a minimum 10% hit.

The bill that was drafted by Senate Banking Committee Chairman Tim Johnson and Senator Mike Crapo would require most borrowers to pony up down payments of at least 5 percent.

Currently, Fannie Mae and Freddie Mac own or guarantee 60 % of all U.S. home loans. They provide a steady source of mortgage funds by buying loans from lenders and packaging them into securities they sell to investors with a guarantee.

However, their central role in the mortgage market also led to the horrendous mortgage meltdown and forced the U.S. government o bail them out in the amount of $187.5 billion in the middle of the 2007?2009 financial crisis.

Economic Optimism

However, new economic optimism is in the air that could nullify the negative effect of the proposed legislation that is unlikely to be passed in this election year.

Despite deterioration in economic activity at the end of 2013 that has continued through the first quarter of this year, growth is expected to pick up in the second quarter and build throughout the summer, firming to approximately 2.7 percent for all of 2014, according to Fannie Mae's (Economic & Strategic Research Group. The near-term outlook remains somewhat clouded due in part to an unsustainable build-up in inventory in the second half of last year and as downside effects from the winter have yet to fully materialize. However, the return of weather to seasonal norms should help boost growth in the second quarter, supported by consumer spending, business investment, and housing starts.

"For our March forecast, we expect economic and housing growth to emerge from the tough winter weather and gain momentum into the spring and summer seasons," said Fannie Mae Chief Economist Doug Duncan. "Fiscal and monetary policy jitters appear to have waned and the most recent employment numbers came in at reasonable levels, helping to ease concerns of a significant slowdown or risk of recession," he added.

Sign up today for timely and hot stock alerts here, or by cutting and pasting the following link in your Web browser:

No Current News or Financials on China Construction Bank Corp.

Meanwhile, China Construction Bank Corp. (OTCPINK: CICHY) share volume skyrocketed Mar. 24, with 3,039,526 shares changing hands, more than 13 times its three-month average volume of 226,077 shares.

What is behind this unusual surge in volume is anybody?s guess. There is absolutely no current information, financials or news on the company, other than a press release from 2010. Its Web site is in Chinese.

Here is what we do know:

China Construction Bank Corp is a commercial bank in China providing a comprehensive range of commercial banking products and services. Its business consists of corporate banking, personal banking, and treasury operations.

On Mar. 24, CICHY's share price closed at $13.26, up 22 cents from its closing price of $13.04 the previous day.

Sign up today for timely and hot stock alerts here, or by cutting and pasting the following link in your Web browser:

Pennypickalerts.com issues momentum alerts on stocks that can provide gains to day traders.

Pennypickalerts.com provides members with timely information and exclusive alerts on cheap and under-valued stocks in the United States with the potential to deliver gains of 100% - 200% or more.

Pennypickalerts.com monitors and scans the markets for stock related signals as well as any external factors that might bring trading opportunities. Through a vast network of IR professionals Pennypickalerts.com is often in the know of several large investor awareness campaigns being deployed.

Timing is everything when trading Penny Stocks. Gain an Edge by joining the Pennypickalerts.com newsletter and receiving alerts from a Pro-Active team of researchers. Pennypickalerts.com believes traders should have a chance at successfully trading penny stocks and invites traders and investors to be part of the Free VIP membership.

Simply sign up for free and start receiving exclusive alerts.

Subscribe Here: http://www.pennypickalerts.com


Pennypickalerts.com is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always own due diligence with any potential investment.

© Accesswire 2014
React to this article
Latest news
Date Title
06:17a GO INTERNET : Press Release - 27rd November 2015
06:17a FERRARI NV : Rosberg edges out Hamilton in second practice for Abu Dhabi GP ; MOTOR RACING
06:16a HONEYWELL : Warrant issued for absconding thief
06:15a ARCTIC GOLD PUBL : Bangor
06:14a MANCHESTER UNITED : Pellegrini dismisses Messi rumours
06:06a BEST BUY : Lubbock shoppes get busy buying on Black Friday, despite wet, icy conditions
06:03a AMERICAN EXPRESS : Small Business Saturday energizes retailers
06:01a BANK VTB PAO : S&P cuts national scale rating on VTB Bank Kazakhstan
05:47a WH SMITH : £1m lottery win for grandfather Vic
05:47a L'OCCITANE : Feel beautiful throughout December
Latest news
Hot News 
OPPORTUNITY INVEST MGMT : 27 november 2015 - Announcement AGM on 22 december 2015
ATLANTIS RESOURCES : Tidal generating firm announces long partnership for investment by Gordon Calder
CYTOTOOLS : berichtet über Ergebnisse der europäischen klinischen Studie Phase III: Resultate der Behandlung des diabetischen Fußes mit DermaPro(R) bestätigen nicht die Ergebnisse der vorangegangenen Studien (DGAP News)
STOCK SPIRITS : Further Downgrades Earnings Guidance For 2015
IMAGINATION TECHNOLOGIES : Sir Hossein Yassaie receives 2015 Lifetime Achievement Award in annual Elektra European Electronics Industry Award...
Most Read News
11/27 RESEARCH AND MARKETS : Rotavirus Infections Therapeutic Development - Pipeline Review & Analysis, H2 2015
03:55a EUROPEAN COMMISSION : Antitrust: new Commission Guidelines on joint selling of olive oil, beef and veal, and arable crops
11/27 RESEARCH AND MARKETS : Acute Renal Failure (ARF) (Acute Kidney Injury) - Pipeline Review & Analysis, H2 2015
11/27 Board meeting of Dawood Capital Management Limited will be held on November 30, 2015
11/27 RESEARCH AND MARKETS : Global Metastatic Adenocarcinoma of The Pancreas Therapeutics Pipeline Review, H2 2015
Most recommended articles
05:45aDJWill Black Friday Deals Give a Boost to Car Sales?
02:48aDJBrazil Plans Suit On Dam Breach, Toxins In River
02:48aDJToshiba Mulls Sale Of Chip-Unit Stake
02:47aDJBofA Executive Leaves Firm
12:26a CHINA CHENGTONG DEVELOPMENT : South Africa firms sign $930 million in deals ahead of Xi trip: Xinhua