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Stock Market & Financial Investment News

News Breaks
December 3, 2012
10:51 EDTT, MSFT, NOKStrong Lumia sales appear to have contributed to supply issues, Boy Genius says
Supplies of Nokia's (NOK) Lumia 920, which uses Microsoft's (MSFT) operating system, have been low in several regions, according to Boy Genius. Although supply issues have been partly responsible for this trend, Canaccord Genuity analyst T. Michael Walkley reports that the Lumia 920 was the third best selling device at AT&T (T) in November, Boy Genius says. Reference Link
News For NOK;MSFT;T From The Last 14 Days
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April 16, 2015
08:06 EDTNOKNokia upgraded at Morgan Stanley
As previously reported, Morgan Stanley upgraded Nokia (NOK) to Overweight from Equal Weight. The firm said weakness following the Alcatel (ALU) deal is an overreaction and ignores 25% accretion. Morgan Stanley said the new Nokia has a much stronger product portfolio relative to Ericsson (ERIC).
06:59 EDTNOKNokia upgraded to Overweight from Equal Weight at Morgan Stanley
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06:08 EDTMSFTMicrosoft counceled EC in Google antitrust probe, NY Post says
Microsoft (MSFT) "complained a lot" and "definitely counseled" the European Commission in its antitrust investigation of Google (GOOG), reports the New York Post, citing a source with direct knowledge of the situation. Reference Link
05:43 EDTNOKNokia upgraded to Neutral from Reduce at Natixis
05:42 EDTNOKNokia downgraded to Neutral from Outperform at Credit Suisse
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05:40 EDTNOKNokia downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Nokia (NOK) to Neutral citing valuation and integration risks from the takeover of Alcatel-Lucent (ALU).
April 15, 2015
16:27 EDTNOKOn The Fly: Top stock stories for Wednesday
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13:31 EDTNOKFrench president wants to protect French jobs in Nokia, Alcatel merger, AFP says
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12:30 EDTNOKOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory for the fifth time in the past six sessions. The move came amid lower than expected manufacturing data and industrial production figures in the U.S. and a report on Chinese GDP growth that matched expectations. Although the averages remain higher near midday, the market is well off its highs as investors await the release of the Fed’s Beige Book report. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing report had a reading of -1.19, versus expectations for a 7.17 reading. Industrial production fell 0.6% in March, versus expectations for a 0.3% decline. Capacity utilization came in at 78.4% during the month, versus the 78.6% that was forecast. NAHB's homebuilder confidence index climbed to 56 in April, versus expectations for a reading of 55. The Federal Reserve is scheduled to release its Beige Book at 2 pm EDT this afternoon. In China, the nation's GDP grew at a 7.0% rate in Q1, which met expectations but was the lowest level of quarterly growth since 2009. A number of March data releases came in below expectations in China, including reports on industrial production, retail sales and fixed investments. In Europe, the European Central Bank kept interest rates unchanged. COMPANY NEWS: The European Commission announced it has opened a formal investigation of whether Google’s (GOOG, GOOGL) conduct in relation to its Android mobile operating system as well as applications and services for smartphones and tablets has breached EU antitrust rules. The Commission also sent a Statement of objections to Google alleging the company has abused its dominant position in the markets for general internet search services in the European Economic Area by favoring its own comparison shopping product in its general search results pages. For its part, Google's SVP of Google Search Amit Singhal said the company "respectfully but strongly" disagrees with the need to issue a statement of objections and looks forward to making its case... After Intel (INTC) reported results that were in-line with its preannouncement and estimated that its 2015 revenue would be roughly flat year-over-year, shares rose 4.5%. However, analysts disagreed on the company's ability to meet its revised outlook, with Wedbush upgrading the stock to Outperform from Neutral, but Citi saying that the company's guidance was too bullish and keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers was Celsion (CLSN), which gained 20% after the company announced interim data from its ongoing open-label Phase 2 DIGNITY Trial of ThermoDox in recurrent chest wall breast cancer. Also higher was gunmaker Smith & Wesson (SWHC), which gained 13% after raising its guidance, citing orders throughout its fiscal fourth quarter that have been stronger than originally anticipated. Among the noteworthy losers was Alcatel-Lucent (ALU), which dropped 19% after agreeing to merge with Nokia (NOK) in an all-share transaction that values Alcatel-Lucent at EUR 15.6B on a fully diluted basis. Also lower were shares of Precision Castparts (PCP), which fell 3% after the company issued fourth quarter guidance, said it was making headcount reductions and the stock was downgraded at DA Davidson. INDEXES: Near midday, the Dow was up 56.39, or 0.31%, to 18,093.09, the Nasdaq was up 24.52, or 0.49%, to 5,001.81, and the S&P 500 was up 9.80, or 0.47%, to 2,105.64.
10:00 EDTNOKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
09:08 EDTNOKOn The Fly: Pre-market Movers
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07:51 EDTNOKFlextronics in advanced talks for part of Chinese jv of Alcatel, Reuters says
Flextronics (FLEX) is in advanced talks to acquire the manufacturing unit of Alcatel-Lucent's (ALU) Shanghai Bell joint venture, reported Reuters, citing two people with knowledge of the deal. Nokia (NOK) and Alcatel-Lucent have announced their intention to combine in all-share transaction. Reference Link
07:46 EDTNOKEricsson, Juniper in focus for deals after Nokia-Alcatel tie-up, Bloomberg says
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07:11 EDTNOKNokia upgraded to Market Perform from Underperform at Bernstein
Bernstein upgraded Nokia (NOK) to Market Perform with a $9.20 price target following the company's buyout of Alcatel-Lucent (ALU).
07:10 EDTNOKAlcatel-Lucent downgraded to Market Perform from Outperform at Bernstein
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06:46 EDTTAT&T files lawsuit to challenge net neutrality order, WSJ says
AT&T filed a lawsuit to overturn the FCC's net neutrality order to reclassify the internet as a telecommunications service, reports the Wall Street Journal. The move is surprising, as AT&T didn't join in prior suits, the Journal adds. Reference Link
06:27 EDTNOKNokia initiates review of strategic options for HERE business
Nokia (NOK) announces that it has initiated a review of strategic options, including a potential divestment, for its HERE business. HERE is a leader in navigation, mapping and location intelligence. Nokia also announced a proposed combination with Alcatel-Lucent (ALU). The Board of Directors of Nokia believes this is the right moment to assess the position of HERE within the proposed new Nokia business.The strategic review of HERE is on-going and it may or may not result in any transaction. Any further announcements about HERE will be made as appropriate.
06:17 EDTMSFTCiti cuts Microsoft estimates, price target ahead of Q3 results
Ahead of the tech giant's Q3 results on April 23 and analyst day on April 29, Citigroup cut its below consensus estimates for Microsoft to reflect currency headwinds, lower PC units and reductions in commercial licensing. Citi's FY15, FY16 and FY17 earnings estimates now stand at $2.59, $2.71 and $2.90. The firm believes further contraction to Microsoft’s valuation multiple is possible given downside risk to consensus numbers and "medium-term uncertainty on multiple fronts." It believes the tech giant's strategic issues, including Windows challenges and the cloud transition, have no easy answers. Citi cut its price target for Microsoft shares to $36 from $38 and keeps a Sell rating on the name.
05:48 EDTNOKAlcatel-Lucent down 16% following Nokia transaction.
05:44 EDTNOKNokia holders to own 66.5% of new company, Alcatel-Lucent holders to own 33.5%
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