Boston, MA, 02/21/2014 – Yandex NV (NASDAQ:YNDX), Russia’s biggest search-engine company slipped the most on Thursday after it missed the analyst forecasts in its fourth quarter profits. Yandex reported that its net income for the quarter increase 24% to $94 million (3.35 billion rubles), but did not met the analyst average estimate of 3.7 billion ruble. Yandex sources most of its revenue through online advertising and reigns double the market share in Internet searches than Google in Russia. The company said that it will benefit from the contextual marketing which will result in its sales growth. However, SergeryLibin at ZAO says that Yandex NV (NASDAQ:YNDX) may not expect drastic improvement in contextual marketing in a short term.
Among the ever-evolving Technology trends, cloud computing and flash storage are expected to rule the sector in 2014. As per the market research data published by IDC, cloud services will attract substantial spending resulting in the related technology to soar by over 25% to $100 billion in 2014. The scenario offers remarkable growth opportunity for old renowned players like Oracle Corporation (NYSE:ORCL) and International Business Machines Corp. (NYSE:IBM). According to the experts, Oracle is actively trying to position itself in the cloud computing market and therefore, it is expected to deliver on its results in time to come.
Today K1 Ventures ltd announced that it has agreed to sell its nearly 80.1% share in a transportation leasing unit to Wells Fargo & Co. (NYSE:WFC) for a consideration of $152 billion. k1 is jointly held by Keppel Corp Ltd and Focus Up Holdings, who took the share in Long Haul Holding Corp (HELM) back in 2005.The sale of the proposed stake is slated to complete by the close of the second quarter. Helm, which is counted among the largest independent railcar and locomotive leasing firms in North America will not be impacted by the sale.