Editor’s Note: Related tickers: Nokia Corporation (ADR) (NYSE:NOK), Microsoft Corporation (NASDAQ:MSFT), Goldman Sachs Group, Inc. (NYSE:GS)
Block Trading and Options Highlights for Nokia Corporation (NOK) (Avafin)
Block trades serve as a useful indicator for investors trying to understand the sentiment of large financial institutions. A total of 1,496 block trades were executed today, typically at least 10,000 shares or more represent a single block unit. Further analysis into the trading activity reveals that 24,569,949 shares were bought and 20,468,041 shares were sold. The bought/sold ratio for shares of Nokia Corporation (ADR) (NYSE:NOK) is 1.20, representing a positive net cash flow of $15,779,795 into the stock. On the options side, a total of total of 105,407 call and 26,223 put contracts were traded yielding a 0.25 put/call ratio. Despite smartphone market share losses, Nokia Corporation (ADR) (NYSE:NOK) is still a massive player in the mobile phone market, fueled by the demand for its inexpensive basic phones in geographies with price-sensitive consumers.
Nokia Corporation (ADR) (NYSE:NOK) shares are up in Tuesday trading on speculation that Chinese telecommunications company Huawei may be interested in acquiring the Finnish firm. The rumors stem from a Financial Times report that quoted Richard Yu, Huawei’s head of consumer business, as saying that Huawei is considering “these sorts of acquisitions” depending on how willing Nokia Corporation (ADR) (NYSE:NOK) would be to a deal. Nokia did not immediately respond to a request for comment. Nokia shares were up as high as $4.12 from an opening price of $3.69 Tuesday, though shares settled in afternoon trading to around $3.87 per share.
What the Last Symbian Means for Nokia (Nasdaq)
When Nokia Corporation (ADR) (NYSE:NOK) ships its last Symbian phone in the summer, it will close a final chapter for the phone giant. The company is ramping up its focus on other lines, from Asha in the low end to Lumia on the high end. In the first quarter, Symbian accounted for only 500,000 shipments. By comparison, 5.6 million Lumia devices were shipped. Lumia runs on Microsoft Corporation (NASDAQ:MSFT) Windows Phone 8 (WP8). …Symbian was an 11-year-old platform. Support for consumers using Symbian will continue until at least 2016, and the winding down of the brand is favorable for investors. The most notable models from Symbian were the N95, E71, and the 808 PureView. There are two things that are most significant coming from Symbian: PureView and superior hardware quality.
Nokia Rating Reiterated by Goldman Sachs (NOK) (Zolmax)
Nokia Corporation (ADR) (NYSE:NOK)’s stock had its “sell” rating restated by investment analysts at Goldman Sachs Group, Inc. (NYSE:GS) in a note issued to investors on Tuesday, ARN reports. Shares of Nokia Corporation (ADR) (NYSE:NOK) opened at 3.69 on Tuesday. Nokia has a one year low of $1.63 and a one year high of $4.90. The stock’s 50-day moving average is currently $3.55. The company’s market cap is $13.698 billion. Nokia Corporation (ADR) (NYSE:NOK) last posted its earnings data on Thursday, April 18th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.02.
Huawei denies Nokia acquisition (ChinaDaily)
Huawei has denied a foreign media report that the Chinese telecom group is planning to purchase Nokia Corporation (ADR) (NYSE:NOK). According to UK’s Financial Times, chairman of Huawei Consumer Business Group Richard Yu said that Huawei is considering the acquisition of Nokia to help it become the world’s largest smart-phone manufacturer. “Maybe the combination has some synergies, but it depends on the willingness of Nokia Corporation (ADR) (NYSE:NOK). We are open-minded,” Yu said. On Wednesday, his words caused Nokia’s share price to increase by 11 percent to US $4.1. Both Huawei Consumer Business Group and Yu denied any acquisition plan of Nokia Corporation (ADR) (NYSE:NOK) and said it was a misunderstanding from the interview.
