|Bid||0.00 x 40000|
|Ask||0.00 x 40700|
|Day's Range||8.30 - 8.41|
|52 Week Range||8.04 - 10.46|
|Beta (3Y Monthly)||0.26|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.11 (1.31%)|
|1y Target Est||10.56|
The necessary technologies to usher in the 5G era -- particularly in the United States -- are only just now becoming available, potentially making Nokia (NYSE:NOK) a solid defensive play at this point. 5G is Coming, Ready or NotSource: Shutterstock 2019 isn't going to be the "year of 5G." Although 5G service is available in some select locations, it's not yet offered in most places. Smartphones must also be built with 5G-compatible components, and most of the smartphones in use today don't meet that criteria.However, that picture could be, and likely will be, different a year from now.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAT&T (NYSE:T) says it will offer nationwide 5G by the end of 2020. Ditto for T-Mobile (NASDAQ:TMUS). Just as importantly, many more 5G-compatible major-brand phones will be readily available in 2020. The first 5G-capable iPhone from Apple (NASDAQ:AAPL) is supposed to debut next year, which has already inspired something of a race.Consumers will do their part, too. Once some of them experience wireless connection at least speeds ten times faster than the current 4G norm, they'll clamor for game-changing 5G devices. * 7 Great Small-Cap Stocks to Buy Deal Growth Bodes Well for Nokia StockThe infrastructure needed to make 5G a reality is being put in place now.In June,NOK announced it had inked 42 different 5G-related hardware deals (that number has since been upped to 45) across the globe. According to NOK, that's more than any other supplier has confirmed. Based on those numbers, it appears that Nokia's rival, Ericsson (NASDAQ:ERIC). is winning about one-third fewer 5G deals than NOK.Both statements are contentious, and questionable. Huawei says two-thirds of 5G installations outside of China utilize the hardware and corresponding software it offers, while Ericsson paints an obscure picture that at least implies it's holding its own against NOK.One thing is clear, though; Nokia is winning some business, but most of the deals have yet to generate reportable revenue that can meaningfully boost Nokia stock. Those deals won't generate reportable revenue until the installations they're facilitating are completed and up and running.How much revenue NOK has already lined up from its deals isn't clear, and some of the projects can still be canceled.By and large though, NOK has already lined up a great deal of new, incremental revenue that will start flowing in the second half of 2019 and then grow through 2020. Barring an outright, global economic meltdown, most of those 5G contracts should be completed by the end of next year. New ones will be added in the meantime. Looking Ahead for NOK StockConsumers have to have food and their mobile internet service, their usual guilty pleasures. As a result, those are two of the few slivers of the market that are shielded from macro pain.Nokia's top line is expected to drop 1.5% this year, but next year's anticipated 3% improvement is more significant than it may seem to be on the surface. That's because the rebound sets the stage for considerable earnings growth.While this year's average outlook by analysts for a profit of 27 cents per share of NOK stock only matches last year's EPS, the pros, on average, are calling for its EPS to jump to 41 cents in 2020. Most of that top and bottom line growth is the result of anticipated new 5G-related revenue.Assuming Nokia's 2020 EPS comes in at 41 cents, by the way, Nokia stock now has a forward-looking price-earnings ratio of only 12.5.The trick going forward is getting the masses to believe in the company's outlook enough to shake Nokia stock out of its slump. NOK still has enough firepower to inspire such buying if the company manages to garner enough attention from the Street.As of the time of this writing, James Brumley did not hold a position in any of the aforementioned securities. To learn more about James, visit his site at jamesbrumley.com, or follow him on twitter at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Nokia's 5G Business Makes NOK Stock a Defensive Option appeared first on InvestorPlace.
U.S. sanctions against Chinese tech giant Huawei were suspended through Monday, Aug. 19. What the Trump administration does next has big implications.
The wait for Nokia (NYSE:NOK) stock to gain traction continues. A second-quarter earnings and revenue beat sent its shares surging higher. However, Nokia stock has almost fallen back to the $5.20 per share level where it traded before the company released its quarterly report.Source: Shutterstock NOK can benefit tremendously from the adoption of 5G. But until the company delivers profits and increases investors' confidence, Nokia stock will struggle. Reinvention, Low Valuation Have Not Helped Nokia StockThanks to its purchase of Alcatel-Lucent in 2016, Nokia has reinvented itself as a telecom-equipment maker. Consequently, Nokia's equipment has helped facilitate the transition to 5G service. While NOK's reinvention should have helped Nokia stock, that hasn't been the case so far.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOn January 14, 2016, the day of the Alcatel deal, Nokia traded at an adjusted price of $6.39 per share. Today, Nokia stock sells for around $5.22 per share, meaning that NOK has lost more than 16% of its value in the last 3.5 years. * 15 Growth Stocks to Buy for the Long Haul After the downturn, NOK is a reasonably-priced stock. The decline has taken its forward price-earnings (PE) ratio to about 13. Analysts' average estimate predicts that Nokia's profit won't rise this year. However, the average estimates call for an earnings increase of 51.9% next year and average annual profit growth of 23.9% over the next five years, as more consumers and businesses begin to use 5G.Unfortunately, NOK stock has burned investors before. Of course, Nokia was blindsided by the advent of the smartphone. I have recommended NOK repeatedly, only to always see it fail to gain traction. Those who listened to me have collected a dividend, but Nokia stock has not delivered a sustained rally. Can Nokia Stock Finally Recover?So what will boost Nokia stock? InvestorPlace contributor Thomas Niel believes NOK will not move much in the near-term. However, he also thinks "new developments on the 5G front" could turn into the catalyst Nokia needs.But telecom companies can turn to equipment makers besides NOK, including Ericsson (NASDAQ:ERIC), Cisco Systems (NASDAQ:CSCO), and Juniper Networks (NYSE:JNPR).NOK traded above $60 during the height of the dot-com bubble. It surpassed $40 per share in 2007 when its share of the cell phone market was 49.4%. That year, Apple's (NASDAQ:AAPL) introduction of the iPhone pushed NOK into a descent from which it never recovered. As a result, confidence in Nokia has dropped. The company will need to restore that confidence if it wants to spark a recovery in NOK stock. Should Investors Buy NOK?I see no evidence that Nokia will become the leader of the telecom-equipment sector. Most other investors probably feel the same way For this reason, NOK stock has traded between the high-$3s per share and the high $8s per share range since 2013. Given this pattern, investors can probably forget about NOK stock reaching $40 or $60 anytime soon.However, once 5G is adopted more extensively, Nokia stock could break out of its current range. Historically, NOK has traded at an average P/E ratio of 25.3. If NOK meets analysts' average 2019 EPS estimate of 27 cents, and its PE multiple rises to its historic average of 25.3, NOK stock price would reach $6.83. If its 2020 EPS reaches the average estimate of 41 cents per share, and its PE ratio rises to 25.3, the stock price would reach $10.37.If NOK, boosted by the 5G revolution finds a way to beat the average estimates, the long-awaited recovery of Nokia stock could finally materialize.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 15 Growth Stocks to Buy for the Long Haul * 5 More Cloud Stocks With Plenty of Potential * 5 Clean Energy ETFs to Buy for 2019 The post Multiple Expansion, 5G Can Boost Nokia Stock appeared first on InvestorPlace.
Nokia (NYSE:NOK) showed some progress in its second-quarter report last week. It even briefly boosted NOK stock: shares climbed 10% after Thursday's release. But in the last week, Nokia stock already has given back roughly half those gains.Source: Shutterstock It's not terribly hard to see why that is. Traders responded well to the company's headline beat. But investors are more cautious, and with good reason. The Q2 report follows a first quarter release that was much weaker (NOK stock actually fell 10% after that report). Full-year guidance was reaffirmed -- and so were the risks to that guidance. * 8 of the Most Shorted Stocks in the Markets Right Now More broadly, as I detailed in June, Nokia has disappointed several times before. The 5G opportunity might be different, but investors would be forgiven for not wholly trusting the company just yet.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Q2 and First Half Nokia EarningsTraders likely focused on the headline numbers here, which look strong, at least relative to expectations. Adjusted EPS of €0.05 came in €0.02 ahead of consensus. The top-line performance was more impressive: revenue rose 7.2%, about five points better than the Street projected.But that beat doesn't necessarily suggest that Nokia stock is getting back to growth. The company explained a soft Q1 as driven in part by contracts which were signed in the quarter, but didn't contribute to revenue until Q2. That timing -- somewhat -- explains the difference in how the two quarters were viewed.Taking the first half as a whole, the news hardly seems spectacular. Revenue, in constant currency, grew just 2% year-over-year. Adjusted operating profit fell 32%. And Nokia burned a whopping €2.5 billion (about US$2.75 billion) in cash. The performance so far doesn't necessarily suggest that Nokia has turned the corner. Optimism Toward NOK StockThat said, Nokia stock probably deserved some gains after the quarter -- if only due to a sort of relief rally. After Q1, it seemed unlikely that Nokia would meet its full-year EPS guidance. The consensus estimate was below the low end of the company's range. The Q2 beat gets Nokia back on track toward at least clipping the low end of the range.That's important for two reasons. First, it re-establishes some level of credibility for Nokia. Again, this is a company that has disappointed repeatedly. It sold its phone business to Microsoft (NASDAQ:MSFT) for US$7 billion in cash, which turned out to be a great deal (and a disaster for Microsoft). Six years later, NOK stock trades basically where it did after it soared on that deal.In early 2016, Nokia took control of Alcatel-Lucent via tender offer in a supposedly transformative acquisition. Nokia stock has declined since that deal was closed (and since it was announced the year before).The opportunity now comes from enormous cost-cutting -- some €500 million in savings next year -- and 5G. Nokia needs to capitalize this time, and Q2 is a modest step in that journey.Secondly, it's 2020 earnings that really matter for Nokia. Thanks in part to those cost cuts, Nokia is projecting a big step up in profits next year. Adjusted EPS is guided to rise from €0.25-€0.29 this year to €0.37-€0.42 next year. The 2020 target makes NOK look cheap: about 12.5x earnings at the midpoint of that guidance.Basically, if Nokia hits next year's target, Nokia stock is going to rise. If it doesn't, NOK at best stays dead money. The company still wrote in its release that guidance "puts significant pressure on execution in the second half." But Q2's performance at least gives the company a chance of reaching its guidance for this year. That's a step in the right direction for the company, and a reason to see a bounce in the stock. Will 5G Boost Nokia Stock?There's one more piece of good news worth highlighting. Again, cost cuts should help margins and 5G should drive growth. The question is whether, with China's Huawei facing security concerns, Nokia can outperform rival Ericsson (NASDAQ:ERIC) in 5G. Early returns look good.In fact, CEO Rajeev Suri said on the Q2 conference call that of the existing Nokia 4G LTE customers who have chosen a 5G supplier, every one of them has chosen Nokia. That suggests early strength in 5G -- and a nice base for growth going forward. It's another reason to see the report as bullish for NOK stock.Personally, I'm not quite ready to jump on board. One quarter doesn't change execution concerns, particularly with the company itself still saying guidance is at risk. With the exception of Cisco Systems (NASDAQ:CSCO), the networking space has been a difficult one for companies and investors (Juniper Networks (NYSE:JNPR), for instance has traded sideways for years now). 5G growth is important, but it's going to be offset by 4G losses.There's still a lot left for Nokia to prove. But give credit where credit is due: the company at least took a solid step forward last week.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 of the Most Shorted Stocks in the Markets Right Now * 7 Charts That Should Concern Marijuana Stock Investors * 8 Monthly Dividend Stocks to Buy for Consistent Income The post Better Execution Needed to Move NOK Stock Higher appeared first on InvestorPlace.
By buying an index fund, you can roughly match the market return with ease. But if you pick the right individual...
T-Mobile has lost a major business client as it works to save the T-Mobile–Sprint merger deal. Ting recently announced that it wouldn't renew its contract.
Britain on Monday postponed a decision on whether Huawei could participate in building next-generation 5G mobile networks until it had a clearer picture of the impact of U.S. measures taken against the Chinese company. "These measures could have a potential impact on the future availability and reliability of Huawei's products, together with other market impacts, and so are relevant considerations in determining Huawei's involvement in the network," Digital Minister Jeremy Wright told parliament.
Britain plans to publish the results of a long-awaited telecoms supply chain review next week without a decision on the use of equipment made by China's Huawei in future 5G networks, people with knowledge of the matter told Reuters. Lawmakers said on Friday the government needed to make a decision on Huawei Technologies as "a matter of urgency" and continued delays were damaging international relations. Britain's National Security Council, chaired by outgoing Prime Minister Theresa May, met to discuss the issue in April and a decision was made to block Huawei from all critical parts of the 5G network over security concerns, but still allow it restricted access to less sensitive parts.
Ericsson (ERIC) second-quarter 2019 earnings miss by a penny, while AT&T (T) collaborates with IBM to facilitate diverse businesses to harness edge connections and edge computing capabilities.
After stalling on Monday and struggling on Tuesday, the bears finally got their pound of flesh. On Wednesday, the S&P 500 fell 0.65%, closing near its low for the day after a few too many investors rethought their positions after a fairly tough start to earnings season.Source: Shutterstock Railroad company CSX (NASDAQ:CSX) hit the wall the hardest, slumping more than 10% after falling short of last quarter's earnings expectations then underscoring that miss with a disappointing outlook. Telecom technology name Ericsson (NASDAQ:ERIC) was a miserable performer too, however, down 11% after missing its quarterly earnings estimates and painting a grim picture of its business in Asia.At the other end of the spectrum, Shopify (NYSE:SHOP) rallied more than 2% as investors jockeyed to get into the one name that could prove disruptive to the e-commerce landscape.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Best Cryptocurrencies to Keep on Your Radar But none of those names are as compelling as the stock charts of Eastman Chemical Company (NYSE:EMN), General Motors (NYSE:GM) and Verizon Communications (NYSE:VZ) headed into Thursday's action. Here's what makes these three names so special. Eastman Chemical Company (EMN)Given the action Eastman Chemical Company shares have dished out over the past couple of weeks, it would be easy to say EMN just blew its chance at clearing its 200-day moving average line plotted in white on both stocks charts. The June rally was stopped cold there, and Tuesday's short-lived trek above the 200-day line was also halted when the late-June high near $80 was re-met.There's more bullishness packed into this chart than readily meets the eye, however. Another good nudge or two could do the trick. Click to Enlarge * Although the June effort to clear the 200-day moving average line failed, notice the subsequent pullback was halted and reversed cleanly at the purple 50-day moving average line. * Yesterday, the gray 100-day moving average line also became a support level. * While the 200-day line is a critical hurdle here, the $80 area has been defined as the make-or-break area for meaningful upside. Verizon Communications (VZ)With nothing more than a passing glance at Verizon Communications, it looks like the stock is simply range-bound, bouncing to and from near-term peaks and troughs. And, that may be all that's taking shape here.But, as was noted on June 21, VZ stock is increasingly putting pressure on its 200-day moving average line as a technical floor. Although it's still intact, the stock is quietly inching closer to a break under that support, which could easily open the doors to lower lows in a hurry. * 7 Stocks Top Investors Are Buying Now Click to Enlarge * Just since April, the testing of the 200-day line, plotted in white on both stock charts, has heated up to where it's being touched on a regular basis. * Although it has not happened yet, we're even closer to a so-called death cross now than we were a month ago. That's where the purple 50-day average crossed under the 200-day line. * Even a break under the 200-day line is no guarantee of a complete meltdown, however. There's a support line at $55.34, where the red, dashed line that connects the key lows since early last year lies. General Motors (GM)Like all other players in the automobile industry, General Motors has struggled since "peak auto" came and went in 2015. Although it fared better than the rest and it was able to drive GM stock sharply higher in 2017, it wasn't meant to last. The pullback has been particularly bumpy.There has been a method to the madness behind all the volatility, however. The highs and lows going back to 2015 have formed a wedge pattern that's squeezing General Motors shares into a point. The stock may not get all the way to the convergence of that triangle shape, however, if they can just get over the ceiling they're testing right now. Click to Enlarge * There are actually two upper boundaries of the wedge. The bigger-picture one is plotted as a white dashed line, while the gray dashed line has only taken shape since early 2018. * We've seen it before to no avail, but the white 200-day moving average line is sloped upward again, suggesting the longer-term trend is net-bullish. * Although pressing the upper boundary of the wedge right now, General Motors stock might be better served by sliding a little lower, regrouping and then trying one more time.As of this writing, James Brumley held no position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post 3 Big Stock Charts for Thursday: Eastman Chemical, Verizon and General Motors appeared first on InvestorPlace.
That cracking sound you heard last week was the stock market breaking through its previous highs to set all-time records.Source: Shutterstock That moaning sound you heard was investors who thought: a) stocks would keep falling after the pullback in May, or b) stocks were at all-time highs and couldn't keep going higher.Either way, they're missing out.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI hope you're not one of them. But if you are, it's not too late. That's my message to anyone who will listen to me.I for one am all in on stocks. That shouldn't surprise you if you're a regular MoneyWire reader. In My Top 10 Predictions for 2019 from last December, I said the S&P 500 Index would be up a minimum of 25% at some point during the year. As of today, it's up 21%. We're close.I am more confident than ever that the market will top 25% gains in the coming months. I like the current environment, and I also just came across pretty compelling historical data that is perfect for current conditions. I'll have more for you on that next week.The U.S. stock market continues to be the greatest wealth creator in the history of mankind. If you want to live the life of your dreams, you need to be invested in stocks -- especially companies leading the way in massive, unstoppable trends that are changing our world.These are the themes I research deeply and talk to so many industry insiders about.They are themes that you can profit from in multiple ways.And they are the themes that give you the absolute best chances to make 2X, 3X, 5X, or even 10X your money.Let's check in on some of the latest news in those trends. Another Step on the Path to LegalizationWe have to start with marijuana. It may be the hottest theme right now, and it's a monster opportunity that just got better.We continue to get more signals that legalization is around the corner, and the latest is a big one. Last Wednesday, the House Judiciary Subcommittee on Crime, Terrorism and Homeland Security held a hearing in which reform of marijuana laws was discussed.As I wrote last week, the need for reform is something both parties actually agree on. There still needs to be agreement on exactly what reform would look like, whether it's decriminalization, changing marijuana's status as a Schedule 1 drug, opening up banking laws for marijuana companies, or leaving the decision to the states.Any of those options move us closer to full legalization and will supercharge the already huge opportunity.Also this week, another one of our stocks joined the Pot Jumpers club as KushCo Holdings (OTCMKTS:KSHB) applied to uplist to the Nasdaq Composite from the Over-the-Counter (OTC) Exchange.Jumper Stocks are one of the most exciting opportunities in the exploding legal marijuana industry. These jumps from the minor leagues to the major leagues give companies instant credibility, access to institutional buyers previously forbidden from owning shares, and increased coverage from analysts.All of it is like fuel for the rocket ship. (I actually just recommended my newest Pot Jumper stock, which is a bit different than our others and is in great position. I'm targeting at least 3.5X our initial investment.)We've seen a few marijuana stocks make the jump already this year, but less than 10% of all cannabis-related companies currently trade on the big exchanges. This trend is still in its very early stages, so expect a lot more uplistings in the future.I also want to let you know that I'm about finished beta testing a new way to make money in marijuana stocks. I don't see anyone else doing this yet, but the early results are incredible. (You can learn more about it here, including how to get access to it for free when it's ready to go.) Big Names Continue to Pour Big Money Into Transportation 2.0"Our industry is going to change more deeply in the coming 10 years than in the 100 years before."Matthias Muller, the then CEO of Volkswagen, spoke those words in May 2017. A little more than two years later, the world's second largest car maker is investing a lot of money in what's to come.This morning, Volkswagen (OTCMKTS:VWAGY) and Ford Motor (NYSE:F) expanded on an existing partnership, adding both electric vehicles (EVs) and autonomous vehicles (AVs) to the list of things they're working on. Ford had already invested $1 billion in Argo AI, a private company developing a self-driving system. Volkswagen will invest $2.6 billion in the same company.Volkswagen has also already invested about $10 billion in developing EVs, while Ford is investing $11 billion over the next several years.The stakes are so big that other companies usually viewed as competitors have teamed up to develop EVs and AVs, including General Motors (NYSE:GM) and Honda Motor (NYSE:HMC) as well as BMW (OTCMKTS:BMWYY) and Daimler (OTCMKTS:DMLRY).When an industry like transportation is disrupted, it will lead to trillions of dollars moving from the old to the new. You want to invest in companies that will be on the receiving end of these trillions of dollars on the move. Investors can make a tremendous amount of money in a short time. What's coming is going to be that powerful. 5G Makes HistoryLongtime readers know I'm a huge sports fan, so I especially love it when sports and technology come together … not to mention investing opportunities.Last Thursday, the NBA broadcast a Summer League game between the Atlanta Hawks and the Washington Wizards using smartphones and 5G technology. The game was on in several places, including the ESPN app, NBA TV Canada, and NBA League Pass. AT&T (NYSE:T) provided the 5G network. Samsung provided the smartphones. And Ericsson (NASDAQ:ERIC) provided the network infrastructure.The 5G network is the biggest breakthrough yet in this age of wireless communications. Just as there were fortunes made in prior generations, there will be big money made once again. In fact, I think the opportunity is even bigger now because the leap ahead will drive some of the most powerful tech trends the world has seen -- cloud computing, virtual reality, smart cities, healthcare, autonomous vehicles, and on and on.I think of it as the next-generation toll road. The road to the future passes through 5G, and it's time to set up our booth and start collecting.Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you're interested in making triple-digit gains from the world's biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Retail Stocks Goldman Sachs Says Are Ready to Rip * 7 Services Stocks to Buy for the Rest of 2019 * 6 Stocks to Buy and 1 to Sell Based on Insider Trading The post 3 Hot Investing Trends: Next Steps and Big Opportunities appeared first on InvestorPlace.
Higher y-o-y sales in network business aid Ericsson's (ERIC) second-quarter results. However, shares are down in pre-market as large-scale deployments are expected to hurt margins in the short term.
NEW YORK, NY / ACCESSWIRE / July 17, 2019 / Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC ) will be discussing their earnings results in their 2019 Second Quarter Earnings to be held on July 17, 2019 at ...
European markets were subdued on Wednesday as trade war concerns spilled over onto the continent but Eurozone inflation data maintained hopes of fresh stimulus.
Telecoms equipment maker Ericsson posted quarterly earnings in line with forecasts but said it expected costs related to winning new contracts for its network business to hit profit margins in the second half of the year. Instead, Ericsson said it was on track to meet its financial targets for 2020 and 2022 due to strong demand for 5G equipment. The mobile network equipment maker has staked its recovery on growing demand for next-generation 5G equipment.
STOCKHOLM , July 17, 2019 /PRNewswire/ -- Second quarter highlights Sales were SEK 54.8 (49.8) b . Sales adjusted for comparable units and currency increased by 7% driven by growth in Networks in North ...