In the news: Nuance's weak guidance, ValueAct invests in 21st Century Fox and more


Tuesday headlines include: Soft guidance from Nuance Communications, Twenty-First Century Fox getting an activist investor, Chinese regulators investigating General Motors, JP Morgan selling its private equity unit, and Charter Communications struggling to finance its planned purchase of Comcast assets.

Nuance Communications

Technology firm Nuance Communications ( NUAN ) said Monday that it expects an adjusted profit of 24 to 29 cents per share in the current quarter, on revenue of $500 million to $530 million. Analysts had expected the company to earn 34 cents per share on $540.5 million in revenue. For the quarter that ended in June, the company lost 17 cents per share. On an adjusted basis, it earned 27 cents per share on $486.8 million in revenue. Analysts had expected earnings of 27 cents per share on $498.6 million in revenue. The company reportedly met with potential buyers in June.

21 st Century Fox

ValueAct Holdings, a hedge fund that has waged activist campaigns in the past, has taken a $1 billion stake in Twenty-first Century Fox ( FOXA ). The stake is the fund's fifth-largest holding. Jeffrey Ubben, the CEO of ValueAct said he sees FOXA as a $50 stock in three years.

General Motors

Add automaker General Motors ( GM ) to the list of companies being probed by antitrust regulators in China. The company said its joint venture that makes passenger vehicles had been contacted by regulators as part of an investigation that has led to price cuts by at least seven foreign automakers.

JP Morgan

Financial giant JP Morgan ( JPM ) will get just a little bit smaller after reaching a deal to sell its private equity operation, One Equity Partners. Under the terms of the deal One Equity will become an independent operation, managing investments owned by Lexington Partners and AlpInvest Partners, who are buying JP Morgan's stakes in half of the companies owned by One Equity.

Charter Communications

Cable company Charter Communications ( CHTR ) dropped plans to borrow $4.2 billion through loans as part of an $8.9 billion financing package for its planned purchase of assets from Comcast (CMCSA). The company is also offering to pay higher interest rates on another part of the financing package, raising its offered range to 3.5 percentage points higher than the benchmark rate, compared to a prior range of 2.75 to 3 percentage points. The market for high-yield debt has been roiled recently as investors pulled $1.5 billion from loan funds in the week that ended Aug. 6.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , bonds , Earnings , Technology

Referenced Stocks: NUAN , FOXA , GM , JPM , CHTR

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