Telecom/Technology

BigAir has a dominant share of a microwave market which both challenges and compliments Australia’s planned fibre network.

Morgan Stanley has initiated coverage on iiNet with an Overweight rating, supported by earnings growth assumptions in coming years that are above market consensus.

Telstra has reached agreement with NBNCo with respect to migrating customers and leasing infrastruture, but brokers don’t like the lack of details.

UBS has made minor changes to its model portfolio to reflect May market action, while RBS has identified potential ASX100 earnings surprises in August’s reporting season.

Investors are currently nervous and FY11 earnings estimates may be too high but Citi still sees value in equities at current levels, while GSJB Were outlines its current preferences.

Morgan Stanley has identified some more small cap companies where it sees value, while Macquarie has Boart Longyear on its Marquee Ideas list.

Wall Street reacted badly to the Google result after the market while the day-session had to cope with mixed signals. Dow up 21.

Morgan Stanley has initiated on 10 emerging companies with nine positive ratings, while both JP Morgan and Credit Suisse have also identified value elsewhere in the sector.

A big beat from Intel after the bell sets Wall Street up for a positive session tonight, following a choppy session last night. Dow up 13.

The NBN means scale will be important for ISPs and iiNet has recognised this, acquiring Netspace in a deal brokers expect will boost earnings from FY11.