re: A Good Nokia Day - relatively speaking
>> Cell Phones in News Give Nokia a Lift
Tim Eaton
CBS MarketWatch
4:05 PM ET
September 17, 2001
Shares of Nokia bucked the market trend Monday, climbing more than 12 percent while the major indexes lost as much as 7 percent.
Nokia's stock (NOK) advanced 12.3 percent, or $1.69, to $15.44.
One analyst, J.P. Mark of Wells Fargo Van Kasper, said Nokia benefited from the belief that last week's terror attacks highlighted for Americans the need for mobile telephones.
The company also surprised investors and analysts last Tuesday by proving its strength in the North American market, Mark said. In a mid-quarter update, the mobile phone maker reported it will meet per share earnings estimates of 13 cents for the September quarter, said Mark.
Shares of Motorola (MOT) and Ericsson (ERICY) did not rise with Nokia, whose business is weighted more heavily to mobile phone manufacturing. Motorola shares lost 1.7 percent to $14.78, while Ericsson dropped 8.9 percent to $3.59 [and Qualcomm dropped 9.40 percent to $45.79 <<
Comment: ERICY and QCOM both traded about 21 million shares today. Mot traded 17 million but NOK traded 29.2 million.
Relative Performance of the Big 3 & QCOM
Since 12/31/99 YTD
NOK - 67.7 % - 64.5 %
MOT - 69.8 % - 26.8 %
QCOM - 74.0 % - 44.3 %
ERICY - 74.0 % - 67.9 %
- Eric - |
