exit from the Stoxx 50 is probably the biggest reason as fund managers will have to readjust holdings on the 18th to include the Symbols in Europe...
also, analyst firm Sanford C Bernstein downgraded NOK...but the reason why is stunning...the analyst noted a drop in Google search trends for the Lumia 920 as the reason for the downgrade...Really?...lmao...really?...no channel checks for parts orders...no retail references for sales trends...no other criteria on ANY other models Nokia sells or is about to start offering (ie: the lower end / affordable smart phones and the 105 coming in its major markets)...seriously, this type of incompetence is astounding....
Upgrades recently and why:
Jeffries (Strong Buy) a very respected firm based it's strong buy upgrade on improving sales and market share and copious channel checks indicating ramping sales and improved market share along w/the low priced phones that will increase nokias share and possibly retake the number 1 position in phone sales worldwide.
Argus (Buy) Same reasons.
Nordea Bank - Strong Buy (20 times the size of Sanford Bernstein) Same reasons.
Dodge and Cox (strong Buy)...highly suggest any holder goole Dodge and Cox Nokia video interveiw...watch it! You won't sell...you'll buy more...a team of analysts went through EVERY aspect of Nokia's business and outlook...they BOUGHT MORE!
Last Q...Morgan Stanley Added...Citigroup added millions of shares...i'll go with the opinion of the firms before our resident basher analysts...lol...
The indexx issue has a negative impact, but we know that Nokia is not widely held by institutions, combined with the fact that only a percentage of those who hold Nokia have indexd funds, and only a small fraction of the index is Nokia, the effect will be short lived.
You are quite right. Dodge and Cox interview re Nokia is fantastic. They make their point in a very calm, and thoughtful way. This is exactly the kind of soft sell that I like to buy.
What a contrast with that #$%$ idiot Jim Cramer.