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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: niceguy767 who wrote (34738)	9/9/2013 8:56:39 AM
From: sylvester80	1 Recommendation Recommended By teevee Respond to of 34857

Maybe you haven't heard but, Nokia sold the worthless money losing money sucking D&S operation to Microsoft for $7.2 billion... LOL...

To: niceguy767 who wrote (34738)	9/9/2013 1:54:20 PM
From: sylvester80	Respond to of 34857

Nokia Corporation (ADR) (NOK): Implications for convertible investors September 9, 2013 By Aman Jain valuewalk.com Nokia Corporation (ADR) ( NYSE:NOK) ( BIT:NOK1V) (HEL:NOK1V) €750 million 5 percent 2017 convertible bond ‘leapt’ on Tuesday (last week) along with shares and straight bonds owing to the announcement of the Microsoft Corporation ( NASDAQ:MSFT)-Nokia deal under which Microsoft will buy the Devices and Services division (D&S) of the Finnish firm. Analysts Luke Olsen, Angus Allison and Kim Berg from Barclays note that convertible is a good alternative for income enhanced equity with potentially positive convexity and having significantly lower credit spread and volatility assumptions. Volatility less after the dealNokia Corporation ( NYSE:NOK) ( BIT:NOK1V) (HEL:NOK1V) has kept its bond dividend protected in case the company opts to return cash to shareholders. However, the analysts are cautious over the effect of hedging and the proceeds will be utilized to lower the debt. Analysts are expecting a credit spread of 190 basis points based on significant reduced credit risk and a steeper credit curve. According to the analysts, cash earned from the deal will enhance the liquidity and could assist in bringing down the debt. Barclay’s analysts have assumed volatility of 32 percent, which is slightly lower than before. However, on the credit adjusted basis this volatility is six points below at 36.5 percent. Fixed-strike option-implied volatilities for December 2014 are less by eight points. Further, according to the analysts, the reduction in volatility after the transaction is dependent upon reduced business and financial risk, an initially cash rich balance sheet. Un-concluded deal a potential risk to convertibleRegarding the Microsoft-Nokia deal, analysts expect it to be concluded in the first quarter of 2014 after getting approval of shareholders and regulators. A potential risk for the convertible may be if the deal fails to conclude. However, there are negligible chances of such happening. If the deal fails to get regulatory approval, then Nokia is entitled to receive $750 million as termination fees from Microsoft. Nokia’s Division and Services segment (having 32000 employees) will be wholly transferred to Microsoft. In the financial year 2012, Nokia’s device and services segment contributed around €14.9 billion, or almost 50%, of Nokia’s sales. Nokia Corporation (ADR)( NYSE:NOK) ( BIT:NOK1V) (HEL:NOK1V) and Microsoft have also agreed upon a licensing deal whereby Nokia will grant Microsoft an exclusive 10 year patent license, and in return Microsoft will give right to ‘HERE’. Segments benefiting most from the deal Nokia-Microsoft dealNokia will provide Microsoft with a choice of extending the patent agreement to perpetuity. Net purchase price is €5.44 billion out of which €3.79 billion for Devices & Services and €1.65 billion for the patents, license and option. Further, Microsoft has agreed upon offering instantly €1.5 billion of financing to Nokia, in three equal tranches of convertible bonds with 5, 6 and 7-year tenors. Three segments of Nokia Corporation ( NYSE:NOK) ( BIT:NOK1V) (HEL:NOK1V) namely Nokia Solutions and network, Network infrastructure and services and HERE will be benefited most by the deal. In the second quarter, all three segments racked in sales of €2,781 million, €233 million and (est.) €155 million, respectively.

To: niceguy767 who wrote (34738)	9/9/2013 1:57:33 PM
From: sylvester80	Respond to of 34857

Analyst Downgrades: Nokia Corporation (ADR) (NOK), Lululemon Athletica inc (LULU), and Halliburton Company (HAL) Analysts lowered their ratings on NOK, LULU, and HAL by Beth Gaston 9/9/2013 9:17 AM Analysts have reduced their opinions of Finnish telecom name Nokia Corporation (ADR) (NYSE:NOK), upscale athletic-apparel retailer Lululemon Athletica inc (NASDAQ:LULU), and oil giant Halliburton Company (NYSE:HAL). Here's a quick roundup of today's bearish brokerage notes. Nokia Corporation (ADR) remains elevated, after a 31.3% gap higher last Tuesday following reports of its high-profile deal with Microsoft Corporation (NASDAQ:MSFT). On a year-over-year basis, meanwhile, the telecom name has gained more than 103% to trade at $5.37. Despite these developments, the analyst community remains skeptical. This morning, Danske Bank lowered its rating on NOK to "sell" from "buy," and reduced its price target to 3.90 euros from 4 euros. From a broader perspective, just two of the 20 analysts following NOK rate it a "buy" or better, leaving 18 tepid "hold" designations. Also, the consensus 12-month price target of $4.95 sits below the stock's current price.

To: niceguy767 who wrote (34738)	9/9/2013 1:58:30 PM
From: sylvester80	Respond to of 34857

Microsoft Facilitated Nokia Corporation (ADR) (NYSE:NOK) To Generate €1.5bn Of Financing For Siemens’ 50 Percent Stake Written by Louis Seveno on September 9, 2013 efinancehub.com Nokia Corporation (ADR) (NYSE:NOK) has utilized its option to generate €1.5bn of financing which Microsoft Corporation (NASDAQ:MSFT) made available as part of its purchase of Nokia’s devices and services business. On Friday, Nokia has announced its decision to issue three tranches of senior unsecured convertible bonds of worth €500m each to pre-pay the funding for acquisition of Siemens’ 50 percent stake in the Nokia Siemens Networks joint venture this August for €1.7bn. The financing was provided to Nokia as component of Microsoft’s agreement to purchase Nokia’s devices and services business last week for almost €3.79bn, together with a €1.65bn transaction for licensing Nokia’s patents. Microsoft has lengthened Nokia €1.5bn in the form of three €500m tranches of convertible bonds under the deal. Nokia Corporation (ADR) (NYSE:NOK) shares were 2.51% to $5.51 in current session. On Monday, Spain’s Telefonica S.A. (ADR) (NYSE:TEF) said that it had finished a financing deal of value $743 million to purchase infrastructure from Nokia’s Nokia Solutions and Networks. Telefonica said that this transaction is the second of its kind after analogous deal in 2011. Nokia, once leading but long in fall because of the extended recognition of Android and the iPhone, has accepted Microsoft’s Windows Phone as a mean to become prominant again. However, Microsoft’s operating system still has an inadequate 3.5 percent of the smartphone market, after two years of Windows Phone-powered Nokia handsets.Telefonica S.A. (ADR) (NYSE:TEF) shares were up 0.35% in current session. Microsoft Corporation (NASDAQ:MSFT) has discussed the reasons for the acquisition as its capability to make more money per handset would increase with less redundant marketing efforts and increased approach to the source code for Nokia’s mapping software. However, Microsoft is required to be victorious in the mobile space. The company has struggled a lot over the last 15 years to have an impact in mobile from the tablet-optimized version of Windows XP to SPOT watches to Pocket PCs and Windows Mobile phones, but it has never realized much grip. In the interim, desktop computers are out fashioned and will never experience growth again which stimulated the Microsoft in 90s. Mobile computing will rule in next 20 years until the launch of new innovations, and obviously Windows and Office defined the last 20.