This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at firstname.lastname@example.org or call 800-767-3771 ext. 9339.
For Immediate Release
Chicago, IL – July 17, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Nokia Corporation (NOK - Analyst Report), AT&T Inc. (T - Analyst Report), Apple Inc. (AAPL - Analyst Report), Google Inc. and Microsoft Corporation (MSFT - Analyst Report).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Monday’s Analyst Blog:
Nokia Slashes Lumia Price
In an attempt to improve its falling smartphone market, Nokia Corporation (NOK - Analyst Report) has slashed the price of its flagship Lumia 900, which is the sole Long Term Evolution (LTE) device in its stable.
Nokia Corp. has chopped the price of Lumia 900 by 50% to $49.99. The smartphone is now available under a two-year contract from AT&T Inc. (T - Analyst Report), which is the only carrier to offer Lumia 900 in the U.S. The reduction, which comes only after three months of Lumia 900's launch, is considered by many analysts as an indication that the device is not performing well. It is not clear how Nokia and AT&T will pay for the price reduction.
Nokia has been losing market share to Apple Inc.’s (AAPL - Analyst Report) iPhone and an array of smartphones that run on Google Inc.’s Android operating system. In an effort to improve its falling smartphone market share, the company ditched its Symbian operating system (OS) and teamed up with Microsoft Corporation (MSFT - Analyst Report) to develop Windows based smartphones.
Though Lumia is a much improved offering from Nokia’s desk, we remain skeptical about its success, as the company has lagged far behind two of its closest peers in first quarter sales. Owing to worse-than-expected financial results, management has opted for another 10,000 headcount reduction and plans to close down three facilities in order to lower its operating cost. Additionally, for the first time in 14 years the company has lost its ace position to Samsung Electronics and has been downgraded by all the three major credit rating agencies.
We believe that the pressure of fierce competition from rivals led Nokia Corp. to slash its Lumia 900 prices. Although this could result in a mass market appeal for its flagship device but would eventually affect its bottom line. Nokia Corp. is also lagging behind its rival in application development count, which also needs to be improved in order to survive in this competitive market condition. Last but not the least, OS partner Microsoft Corp. has announced that Lumia 900 customers won’t be able to upgrade its software to Windows phone 8, which could be a major setback for Lumia 900’s success.
The current Zacks Consensus Estimate for Nokia Corporation is pegged at a loss of 11 cents for the second quarter with a growth rate estimate of (218.89%). For 2012 the Zacks Consensus Estimates stands at a loss of 30 cents with growth rate of (178.95%) while for 2013 it stands at 2 cents with a growth rate of 107.22%.
Nokia Corporation has a Zacks #3 Rank, implying a short-term Hold rating.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339