Pre-Market : 5.43 Down 0.23 (4.06%) 6:15AM EDT - Nasdaq Real Time Price
NEW YORK (TheStreet) -- Shares of Nokia (NOK) are up 2.26% to $5.66 this afternoon after Goldman Sachs upgraded its rating on the company to "buy" from "neutral."
The firm has a $6.30 price target on the stock.
Nokia "is about to enter its most intensive cost-cutting phase and management has historically shown itself adept at delivering efficiencies," Goldman Sachs wrote in an analyst note cited by Barron's. This should help profits increase in the upcoming months.
It's only a matter of time before there no more. Europe's liberal agenda will been its ruin, let's hope the USA see's the light before it's too late for us. I don't have much hope.
You hit it on the 2nd one. She passed a few years ago worker at att many years ago this is what is left after the carnage. I still hold 12k alu now 6200 nok. Now my wife has to try to cash that check.
This is what the net proceeds from the sale states:
EUR per Nokia Corp share 4.43383
Conversion rate of Alcatel to Nokia share 0.55000
ADS Ratio 1:1
EUR per ADS 2.438305
Foreign Exchange Date 5/19/2016
Foreign Exchange Rate 1.1182
...inclusive of a fee of 0.002200
USD Rate per ADS 2.7265
Cancellation fee per ADS 0.0500
Net USD per ADS 2.6756
Too much information for me but it may help understand the transaction better.
Just received a check from J.P.Morgan for the 77 shares they held for my mother-in-law. She received $2.675 for each ALU share or $205.98.
I thought this would happen after the squeeze out o well.
NOK to test 5G in Russia
Nokia announced that it will work with MTS Group to test LTE-Advanced Pro (Long-Term Evolution) and 5G
technologies in Russia. The 5G network test is set to be implemented for major sporting events in 2018.
On the other hand, Nokia sells for less than 11 times earnings, is projected to grow at nearly 16%, and pays a 3.5% dividend yield, to boot. Nokia stock bears all the hallmarks of an excellent value play, and is a good example of a stock being cheap enough that even Wall Street can't fail to recognize it.
Here is S&P history on NOK:
May 11, 2016 S&P GLOBAL RAISES OPINION ON ADSS OF NOKIA CORP TO STRONG BUY
February 17, 2016 S&P CAPITAL IQ RAISES OPINION ON ADSS OF NOKIA CORP TO BUY FROM HOLD
April 15, 2015 S&P CAPITAL IQ RAISES NOKIA ADS TO HOLD FROM SELL
January 29, 2015 S&P CAPITAL IQ REITERATES SELL OPINION ON NOKIA ADSS
NEVER SAW STRONG BUY ON NOK or ALU
May 11, 2016
11:05 am ET ... S&P GLOBAL RAISES OPINION ON ADSS OF NOKIA CORP TO STRONG BUY FROM BUY (NOK 5.27*****): We keep our 12-month target of $7.50, 19.2X our '16 earnings per ADS estimate of $0.39. This is a premium to its ten-year historic forward P/E of 17.2X as we see the prospect of cost synergies from the takeover of Alcatel-Lucent outweighing a competitive environment for Networks. Q1 sales were 4% below market expectations due to weakness in Networking (-8%). EBIT beat estimates by 4% on better cost management and higher margins. In our opinion, NOK's efforts to step up efficiency measures will continue to provide a buffer to its profits amid a challenging industry environment. /Jia Man Neoh, /K. Snyder
2:11 pm Nokia to acquire 94.64% convertible bonds of Alcatel-Lucent in a private transaction (NOK) :
Nokia agreed to acquire 72,994,133 of the EUR 688,425,000 Alcatel-Lucent bonds convertible into new Alcatel-Lucent shares or exchangeable for existing Alcatel-Lucent shares due on Jan 30, 2019 and 19,943,533 of the EUR 460,289,979.90 Alcatel-Lucent bonds convertible into new Alcatel-Lucent shares or exchangeable for existing Alcatel-Lucent shares due on Jan 30, 2020
Nokia has agreed to acquire the OCEANEs through a privately negotiated transaction in consideration for an aggregate cash payment of EUR 418,949,438.33
The settlement of the transaction is expected to occur on or around May 16, 2016
Following this transaction Nokia is expected to own 94.64% of the share capital and 94.57% of the voting rights of Alcatel-Lucent, corresponding to 94.17% of the Alcatel-Lucent shares on a fully diluted basis
Withings, which makes products ranging from activity-tracking smartwatches to smart security cameras for the home, brings Nokia back into the consumer goods space.
Check out their products really cool stuff, gives NOK opportunities to sell to many millions of consumers again.