How Important Are LinkedIn & Office For Microsoft (MSFT)?

Microsoft (MSFT ) saw its stock price hit a brand new all-time high Friday as the company rides a wave of post-earnings momentum driven by strong top and bottom line beats. But, with most Microsoft talk surrounding Azure and cloud computing, Microsoft Office and LinkedIn played larger roles in the tech firm’s impressive fiscal 2018 growth.

Shares of Microsoft have climbed 44% over the last year and jumped 2.6% Friday morning to touch a new high of $108.20 per share. The move comes after Microsoft’s Q4 revenues surged by 17% to hit $30.09 billion, which also beat our Zacks Consensus Estimate by nearly $1 billion. At the other end of the income statement, MSFT saw its adjusted quarterly earnings pop approximately 15% to hit $1.13 per share. This also came in above our $1.07 per share estimate.

Some of Microsoft’s growth can be attributed to its Intelligent Cloud unit and the widely popular Azure segment. Plus, cloud will likely become even more vital to Microsoft going forward, especially as it competes against Oracle (ORCL ) , Google (GOOGL ) , and Amazon (AMZN ) . “Our early investments in the intelligent cloud and intelligent edge are paying off, and we will continue to expand our reach in large and growing markets with differentiated innovation,” CEO Satya Nadella said in a company statement.

However, Microsoft’s Productivity and Business Processes unit, which includes its Office offerings and LinkedIn, brings in more revenue than cloud today.

Microsoft’s Productivity and Business Processes division posted revenues of $9.67 billion, which marked a 13% jump from the year-ago quarter.  Last quarter, this unit saw its revenues surged 17% to touch $8.95 billion.

The firm’s overall Office commercial products and cloud services revenues popped 10%. Microsoft’s Office 365 commercial sales soared 38%. Office’s consumer side saw its total revenues climb by 8%.

Meanwhile, the company’s business-focused social media platform LinkedIn’s total revenues skyrocketed 37%. Lastly, MSFT’s Dynamics unit revenues popped 11%, fueled by Dynamics 365’s 61% growth.

Productivity and Business Processes revenues hit $35.87 billion in fiscal 2018, up 20% from 2017’s $29.87 billion. Overall, the division accounted for over 32% of Microsoft’s $110.36 billion total full-year revenues, which came in above Intelligent Cloud’s 29%.

Will You Make a Fortune on the Shift to Electric Cars?

Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

See This Ticker Free >>

Brokerages Set Xylem Inc (XYL) PT at $79.78

Xylem Inc (NYSE:XYL) has been assigned an average recommendation of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $79.78.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Xylem from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, March 20th. Boenning Scattergood restated a “buy” rating and issued a $90.00 price target on shares of Xylem in a report on Tuesday, May 1st. BMO Capital Markets lowered their price target on Xylem from $86.00 to $83.00 and set an “outperform” rating on the stock in a report on Wednesday, May 2nd. Oppenheimer restated a “buy” rating and issued a $82.00 price target on shares of Xylem in a report on Tuesday, May 1st. Finally, Canaccord Genuity set a $78.00 price target on Xylem and gave the stock a “hold” rating in a report on Tuesday, April 24th.

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In other Xylem news, Director Curtis J. Crawford sold 7,500 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $73.39, for a total transaction of $550,425.00. Following the sale, the director now owns 41,744 shares in the company, valued at approximately $3,063,592.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Baillie Gifford & Co. grew its holdings in Xylem by 19.0% during the 2nd quarter. Baillie Gifford & Co. now owns 48,518 shares of the industrial products company’s stock valued at $3,269,000 after buying an additional 7,748 shares during the last quarter. Smithfield Trust Co. lifted its stake in shares of Xylem by 1,690.0% during the 2nd quarter. Smithfield Trust Co. now owns 1,611 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 1,521 shares during the period. Rathbone Brothers plc lifted its stake in shares of Xylem by 99.7% during the 2nd quarter. Rathbone Brothers plc now owns 95,350 shares of the industrial products company’s stock worth $6,425,000 after purchasing an additional 47,605 shares during the period. Atria Investments LLC purchased a new position in shares of Xylem during the 2nd quarter worth $571,000. Finally, Daiwa SB Investments Ltd. lifted its stake in shares of Xylem by 192.2% during the 2nd quarter. Daiwa SB Investments Ltd. now owns 59,657 shares of the industrial products company’s stock worth $4,020,000 after purchasing an additional 39,242 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

XYL opened at $67.80 on Friday. The company has a market capitalization of $12.33 billion, a P/E ratio of 28.25, a PEG ratio of 1.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.42. Xylem has a 1-year low of $56.18 and a 1-year high of $79.83.

Xylem (NYSE:XYL) last released its quarterly earnings results on Tuesday, May 1st. The industrial products company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Xylem had a return on equity of 18.31% and a net margin of 7.29%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. equities research analysts forecast that Xylem will post 2.89 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 21st. Shareholders of record on Thursday, May 24th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Wednesday, May 23rd. Xylem’s dividend payout ratio (DPR) is presently 35.00%.

About Xylem

Xylem Inc engages in the design, manufacture, and service of engineered solutions for the water and wastewater applications. It operates through three segments: Water Infrastructure, Applied Water, and Measurement and Control Solutions. The Water Infrastructure segment offers various products, including water and wastewater pumps, and controls and systems, as well as filtration, disinfection, and biological treatment equipment under the Flygt, Godwin, Wedeco, Sanitaire, and Leopold names for the transportation, treatment, and testing of water and wastewater applications.

Featured Story: What does EPS mean?

Why Zogenix Inc. Is Soaring Today

What happened

In response�to announcing upbeat results from an important phase 3 trial, shares of�Zogenix (NASDAQ:ZGNX), a clinical-stage pharmaceuticals company focused on diseases of the�central nervous system, surged 16% as of 10:41 a.m. EDT Thursday.

So what

Zogenix shared top-line results from its phase 3 study 1504 today. This trial was designed to test its lead compound ZX008 as a hopeful treatment for children and young adults with Dravet syndrome. Dravet syndrome is a rare form of epilepsy that leads to frequent�seizures.

Image source: Getty Images.

Here are the key findings from the study:

ZX008 achieved the study's primary endpoint, which was a statistically significant reduction in convulsive seizures when compared to a placebo. Specifically, 54.7% of patients who took ZX008 showed a greater reduction in mean monthly convulsive seizures than the placebo group. Furthermore, the median reduction in monthly convulsive seizure frequency was 62.7% in the ZX008 group. That was much better than the 1.2% rate observed in patients who received a placebo.�� ZX008 also showed statistically significant results in all of the study's secondary endpoints. These endpoints included a reduction in convulsive seizure frequency and duration between seizures. The drug was�generally well-tolerated by patients. The number of adverse events observed was consistent with earlier studies. 300 patients remain enrolled in an ongoing safety extension study to monitor potential cardiovascular events. The company affirmed that it is on track to submit ZX008 to regulators in the U.S. and E.U. in the fourth quarter of this year.

Given the news, it is easy to understand why share prices are flying high today.

Now what

Zogenix's CEO Dr. Stephen Farr was enthusiastic about the study's results and offered investors the following commentary:

"Based on these highly compelling top-line results from both of our pivotal studies, we are now focused on submitting applications for regulatory approvals in the U.S. and�Europe�in the fourth quarter of 2018.� We are excited about ZX008's potential to a have a major impact in the treatment of patients with Dravet syndrome and their families."�

When adding today's clinical news to the fact that ZX008 has already received Breakthrough Therapy designation in the U.S. and is designated as an orphan drug in the U.S. and�Europe, the odds look very favorable that the drug will go on to win regulatory approval. If that happens, then the stage is set for a showdown between ZX008 and�GW Pharmaceuticals' (NASDAQ:GWPH) Dravet syndrome drug Epidiloex in 2019.

Microsoft unveils Surface Go to take on iPad

Microsoft is taking a stab at the cheap tablet market with the Surface Go, a 10-inch iPad competitor.

The Go offers the look and feel of Microsoft's larger Surface tablets in a 10-inch package that weighs just over a pound and costs $399. That's half the cost of the cheapest Surface Pro tablet and comparable to Samsung's 9.7-inch Galaxy Tab S2, but still $70 more than the 9.7-inch iPad.

Although aimed at all users, the Go could help Microsoft (MSFT) maintain momentum in its battle against Apple (AAPL) and Google (GOOG) for a greater share of the student market.

Google's Chromebook laptops dominate that market, supplying almost 60% of all devices in the classroom, according to a 2017 report from research firm Futuresource. Apple devices account for about 17%.

Microsoft's new Surface Go.

The Surface Go is about the size of a composition notebook and runs Windows 10 S software. Like every other tablet out of Redmond, it has a detachable keyboard and supports the Surface Pen. It also offers a few features aimed at students: Portrait mode renders pages much like a textbook and landscape mode renders them side-by-side like an open book.

That said, J.P. Gownder, vice president at research firm Forrester, sees the Go's small size and Window's operating system as appealing to businesses.

"It equips mobile workers with a very light weight device that's extremely manageable and secure, and runs business applications in Windows," he said. "It should compete extremely well with the iPad. It's also got the design flair and usability workers want, but it has the applications that employees really need."

Gownder find the Go's appeal to mainstream consumers "a bit murkier" because people "love" their iOS and Android smartphones. That makes them inclined to stick with tablets that run the same software they're already familiar with. Getting them to switch can be a tough sell, especially if they aren't saving a ton of money.

"It remains to be seen exactly how the consumer market for this device will evolve, but the enterprise market should show strong demand," Gownder said.

Greenlight Capital Re (GLRE) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Greenlight Capital Re (NASDAQ: GLRE) in the last few weeks:

7/5/2018 – Greenlight Capital Re was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “strong sell” rating. According to Zacks, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share. “ 7/4/2018 – Greenlight Capital Re was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $16.00 price target on the stock. According to Zacks, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share. “ 7/2/2018 – Greenlight Capital Re was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating. 6/30/2018 – Greenlight Capital Re was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating. 6/6/2018 – Greenlight Capital Re was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share. “ 6/5/2018 – Greenlight Capital Re was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating. 5/29/2018 – Greenlight Capital Re was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating. 5/12/2018 – Greenlight Capital Re was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

NASDAQ GLRE traded up $0.10 during trading hours on Friday, hitting $13.80. 223,200 shares of the company traded hands, compared to its average volume of 274,584. Greenlight Capital Re, Ltd. has a twelve month low of $13.55 and a twelve month high of $23.15. The stock has a market capitalization of $514.26 million, a PE ratio of -11.40 and a beta of 0.88.

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Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, April 30th. The financial services provider reported ($3.85) EPS for the quarter, beating the consensus estimate of ($4.43) by $0.58. Greenlight Capital Re had a negative return on equity of 23.81% and a negative net margin of 40.65%. The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $30.20 million. sell-side analysts forecast that Greenlight Capital Re, Ltd. will post -4.2 earnings per share for the current fiscal year.

In other news, insider Barry Brendan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $15.51, for a total value of $310,200.00. Following the completion of the sale, the insider now directly owns 118,546 shares of the company’s stock, valued at $1,838,648.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leonard R. Goldberg acquired 12,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The stock was acquired at an average cost of $15.25 per share, with a total value of $183,000.00. Following the completion of the transaction, the director now owns 166,641 shares of the company’s stock, valued at $2,541,275.25. The disclosure for this purchase can be found here. Corporate insiders own 21.38% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Greenlight Capital Re by 4.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 129,035 shares of the financial services provider’s stock worth $2,594,000 after purchasing an additional 5,772 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Greenlight Capital Re during the fourth quarter worth approximately $207,000. First Trust Advisors LP increased its stake in shares of Greenlight Capital Re by 14.0% during the fourth quarter. First Trust Advisors LP now owns 26,379 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 3,232 shares during the period. Wells Fargo & Company MN increased its stake in shares of Greenlight Capital Re by 5.0% during the fourth quarter. Wells Fargo & Company MN now owns 138,622 shares of the financial services provider’s stock worth $2,786,000 after purchasing an additional 6,595 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Greenlight Capital Re by 2.0% during the fourth quarter. BlackRock Inc. now owns 1,964,730 shares of the financial services provider’s stock worth $39,490,000 after purchasing an additional 38,317 shares during the period. 43.22% of the stock is owned by institutional investors.

Greenlight Capital Re, Ltd., through its subsidiaries, engages in the provision of property and casualty reinsurance products and services worldwide. Its frequency business comprises contracts containing small losses emanating from multiple events and enables the clients to increase their underwriting capacity; and severity business includes contracts with the potential for significant losses emanating from one event or various events.

Why Clean Energy Fuels Corp's Shares Plunged 18% Today

What happened�

Shares of natural gas fuel company Clean Energy Fuels Corp (NASDAQ:CLNE) fell as much as 17.8% in trading Thursday, ending the day down 15.5% as an analyst gave a negative review of the stock. But keep in mind that shares are still up 54.2% year to date, so this has been a winner of late for investors.�

So what

Today's move was driven by Raymond James analyst Pavel Molchanov, who cut his rating from market perform to underperform. Excitement about the equity investment Total�made in the company earlier this year was cited as a reason shares have surged, but Molchanov thinks shares have gone up too high too fast.

Image source: Getty Images.

Shares of Clean Energy Fuels have been very volatile this year, but they've been rising on news like the Total investment and rising oil prices. On the flip side, the company has actually been shrinking, and losses have been growing over the past year, so fundamentals haven't caught up to investor bullishness at the moment.�

CLNE Revenue (TTM) data by YCharts.

Now what

Intangible news items are really what's driving Clean Energy Fuels stock lately, and it's hard to tell if the company is coming or going on any given day. What investors will want to watch over the next year is how Total's funding and higher oil prices impact demand.

If they lead to more natural gas being used and higher prices at the pump, the company could be well-positioned to reduce losses and eventually make a profit. But if demand doesn't pick up while conditions are good, the company may not ever live up to expectations. This debate will keep investors on their toes as the year plays out.

pdvWireless Inc (PDVW) Position Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. increased its stake in pdvWireless Inc (NASDAQ:PDVW) by 9.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,025 shares of the wireless provider’s stock after acquiring an additional 3,787 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.30% of pdvWireless worth $1,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Chicago Equity Partners LLC acquired a new stake in pdvWireless during the 1st quarter worth $430,000. Deutsche Bank AG boosted its stake in pdvWireless by 136.2% during the 4th quarter. Deutsche Bank AG now owns 22,661 shares of the wireless provider’s stock worth $725,000 after purchasing an additional 13,068 shares during the last quarter. BlackRock Inc. boosted its stake in pdvWireless by 1.6% during the 4th quarter. BlackRock Inc. now owns 646,386 shares of the wireless provider’s stock worth $20,749,000 after purchasing an additional 10,333 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in pdvWireless during the 4th quarter worth $209,000. Finally, MetLife Investment Advisors LLC acquired a new stake in pdvWireless during the 4th quarter worth $108,000. 90.60% of the stock is owned by institutional investors.

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In other news, EVP Richard E. Rohmann sold 900 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $28.75, for a total transaction of $25,875.00. Following the transaction, the executive vice president now owns 7,411 shares of the company’s stock, valued at approximately $213,066.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Owl Creek Asset Management, L. purchased 11,701 shares of the stock in a transaction dated Friday, April 13th. The shares were purchased at an average cost of $29.86 per share, for a total transaction of $349,391.86. The disclosure for this purchase can be found here. In the last three months, insiders have bought 152,721 shares of company stock worth $4,311,435 and have sold 2,700 shares worth $74,799. Insiders own 10.91% of the company’s stock.

Shares of pdvWireless opened at $25.40 on Friday, Marketbeat reports. The stock has a market cap of $363.46 million, a PE ratio of -10.90 and a beta of 0.63. pdvWireless Inc has a twelve month low of $22.50 and a twelve month high of $39.75.

pdvWireless (NASDAQ:PDVW) last announced its quarterly earnings results on Tuesday, June 5th. The wireless provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.04). The firm had revenue of $1.78 million for the quarter, compared to analyst estimates of $1.55 million. pdvWireless had a negative net margin of 481.95% and a negative return on equity of 15.58%. analysts expect that pdvWireless Inc will post -2.97 earnings per share for the current year.

Several equities research analysts have issued reports on PDVW shares. BidaskClub raised shares of pdvWireless from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 13th. Zacks Investment Research cut shares of pdvWireless from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. Finally, ValuEngine raised shares of pdvWireless from a “hold” rating to a “buy” rating in a research note on Friday, April 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.50.

pdvWireless Profile

pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers. It offers The TeamConnect service combines pdvConnect, which combines pdvConnect, a proprietary suite of mobile communication and workforce management applications with digital network architecture and mobile devices supplied by Motorola Solutions, Inc The company's mobile communication and workforce management solutions enable businesses to locate and communicate with their field workers, as well as enhance the documentation of work events and job status.

Want to see what other hedge funds are holding PDVW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for pdvWireless Inc (NASDAQ:PDVW).

Netlist (NLST) Stock Price Down 6.3%

Netlist, Inc. (NASDAQ:NLST)’s share price traded down 6.3% during trading on Tuesday . The stock traded as low as $0.17 and last traded at $0.17. 2,960 shares changed hands during trading, a decline of 100% from the average session volume of 2,102,591 shares. The stock had previously closed at $0.16.

Several equities analysts recently commented on the stock. ValuEngine raised shares of Netlist from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Craig Hallum reaffirmed a “buy” rating and set a $1.00 target price on shares of Netlist in a report on Friday, June 1st. Roth Capital raised shares of Netlist from a “neutral” rating to a “buy” rating in a report on Thursday, May 31st. Finally, Zacks Investment Research lowered shares of Netlist from a “hold” rating to a “sell” rating in a report on Saturday, May 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Netlist has an average rating of “Hold” and an average price target of $1.55.

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The firm has a market capitalization of $17.08 million, a PE ratio of -0.83 and a beta of -0.70. The company has a current ratio of 1.53, a quick ratio of 1.18 and a debt-to-equity ratio of -1.87.

Netlist (NASDAQ:NLST) last announced its quarterly earnings results on Tuesday, May 15th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $8.88 million for the quarter, compared to analyst estimates of $8.00 million. equities analysts anticipate that Netlist, Inc. will post -0.15 earnings per share for the current year.

About Netlist

Netlist, Inc designs, manufactures, and sells modular memory subsystems for the server, high-performance computing, and communications markets worldwide. It offers Hybri dual in-line memory module (DIMM), a storage class memory product, which unifies dynamic random access memory (DRAM)and NAND flash in a plug-and-play module delivering terabyte storage capacities operating at nanosecond memory speeds.

Market Update: Nifty auto gains led by Maruti, Bajaj Auto; Jubilant Food hits new 52-week high

The Indian benchmark indices are trading on a�positive�note this Wednesday�afternoon�with the Nifty�adding�48�points and is trading at�10,748�mark.�The Sensex is trading higher by�195�points at 35,573.

Nifty auto is up close to a percent led by Amara Raja Batteries, Bajaj Auto, Eicher Motors, Maruti Suzuki, Motherson Sumi Systems and TVS Motor Company.

Bank Nifty�gained half a percent led by Kotak�Mahindra�Bank, IndusInd Bank, RBL Bank and Axis Bank.

Oil & gas stocks are also up led by Reliance Industries and Indian Oil Corporation.

related news Unichem Laboratories rallies 5% on USFDA approval for Montelukast chewable tablets Jiya Eco Products stock jumps 19% on setting up of new pellet plant

Selective metal names are also buzzing this Wednesday afternoon including�Hindustan Zinc,�Coal India, Jindal Steel & Power, Tata Steel and Welspun Corp.

Nifty pharma is up close to a percent led by stocks including Cadila Healthcare, Dr Reddy's Labs, GSK Pharma, Lupin, Glenmark Pharma and Sun Pharmaceutical Industries.

The top gainers among Nifty constituents were�Bajaj Auto, Bharti Infratel, Lupin, Indiabulls Housing Finance and Dr Reddy's Labs.

The most actively traded stocks on the NSE are Shriram Transport Finance which is down close to�14�percent�followed by�Sun Pharma,�Lupin, Just Dial and Maruti Suzuki.

The top NSE losers included�HPCL, Grasim Industries, BPCL,�Cipla and Vedanta.

Some of the top gainers on BSE are�Indocount Industries, Marksans Pharma, Sobha, Avanti Feeds and Bajaj Corp.

The top losers included Shriram Transport, SREI Infra, NBCC, Vakrangee and Kwality.

Britannia Industries, GSK Pharma, Godrej Consumer, Jubilant Foodworks and HEG�are�some�of the very�few stocks that hit fresh 52-week high in the�afternoon�trade.

On the other hand,�143�stocks have hit new 52-week low including�Finolex Industries, HPCL, HUDCO, Kwality, Mangalam Cement, Max Financial and Tata Motors among others.

The breadth of the market favoured�declines, with�804�stocks advancing, 895�declining and�365�remaining unchanged. On BSE,�1195�stocks advanced, 1286�declined and�133�remained unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. First Published on Jul 4, 2018 02:25 pm