Tuesday, August 7, 2012

Two Big Tech Gainers: Nokia Corporation (NYSE:NOK) & Sirius XM Radio (NASDAQ:SIRI)

Nokia Corporation (ADR)(NYSE:NOK) extended its uptrend for the third straight session and rose another 5.50% to $2.64, extending its 3-day gain to 16.50%. The stock has been showing high volatility over the past couple of trading weeks with the stock had rebounded almost 62% from its 52-week low of $1.63 on Jul 18, 2012.

How Should Investors Trade NOK After recent Rebound, Get Free Trend Analysis

Although shares of NOK are trading sharply lower from its year ago price, but investors are buying the stock on rumor that the company may launch new Windows Phone 8 handsets in coming few weeks. However, at the same time, market experts suggest that it would again be tough task for the company with the new phone in pipeline as the industry’s leader Apple Inc.(NASDAQ:AAPL) may unveil its iPhone 5. Nokia has been losing its glory in the past few years as the company has completely struggled to survive in form of its rivals Apple, RIMM and Google. The stock has already booked sharp losses in the recent quarters. With the stock prices climbing every day, investors need to trade NOK on cautious note.

Sirius XM Radio Inc(NASDAQ:SIRI) shares continued to edge higher for the third session as the company continued to raise its earnings guidance for the full year on back of strong subscribers growth in the latest quarter. Sirius’ second quarter net income jumped 28% to $3.1 billion, boosted by a $3 billion tax benefit. Adjusted EBIDTA jumped 28% from a year ago to $237 million. The company now projects its EBIDTA to come in at $900 million in 2012, up $25 million from its last forecast. In the past quarter, Sirius XM added 622,000 subscribers last quarter, bringing its total to a record 22.9 million. The company earned $3.13 billion, or 48 cents a share on revenue of $837.5 million. In a year ago quarter, the company earned $179.4 million, or 3 cents.

Can SIRI bounce Back to Its 52-week High? Get Our Special report

Shares of SIRI are up 1.36% to $2.23.

No comments:

Post a Comment

Privacy Policy | Legal Disclaimer