Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (57222)	12/11/2001 10:57:19 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

December 12, 2001 Nokia Offers Note of Optimism on Earnings By SUZANNE KAPNER nytimes.com LONDON, Dec. 11 — Offering a rare piece of encouragement to investors who have watched telephone stocks take a beating this year, Nokia (news/quote), the world's largest maker of cellular phone handsets, said today that fourth-quarter earnings might turn out better than the company's previously published targets. The news sent Nokia's stock up 1.36 euros, or 5 percent, to 28.79 euros ($25.65), reversing the previous day's decline and helping to set off a rally in other European telecommunications shares. Many investors had sold the stock ahead of today's announcement, fearing the new earnings guidance would be dismal. On a day when most European markets were off or posted only small gains, the Helsinki stock exchange, where Nokia is by far the biggest listed company, roared ahead by 3.2 percent. Nokia's knack for meeting earnings targets even during an industrywide slump sets it apart from rivals, who, for the most part, are expected to post losses this year. Under Jorma Ollila, its chief executive, Nokia is already one of the most efficient manufacturers, and it has been cutting costs further this year by eliminating 4,144 jobs, or 7 percent of its work force, and farming out some production.