Bouncing Back Stocks: Nokia Corporation, Advanced Micro Devices (NOK, AMD)

Wireless charging in U.S. cafes

Nokia Corporation (ADR)(NYSE:NOK) rose 2.52% to $2.44 after falling 16% in Wednesday’s session.

One can soon charge one’s mobile phone not just at home or in the office but also in cafes if Nokia Corporation (ADR)(NYSE:NOK)’s deal with The Coffee Bean and The Tea Leaf is anything to go by. Nokia has entered into an agreement with the café chain to offer wireless charging facilities in its stores for customers on the go. The company is a privately held specialty coffee and tea retailer with presence in 24 countries and has more than 850 stores. It has several cafes in airports including one in the Los Angeles Airport.

Where Can NOK’s Shares Go Now? Find Out Here

Nokia has just launched two new phones, the Nokia Lumia 920 with inbuilt wireless charging facility and the Nokia Lumia 820 which can be charged wirelessly but does not have an inbuilt feature for the same.

The Coffee Bean and The Tea Leaf will launch a new application for Lumia users with features such as social media feeds, contact information, store locator etc. and also additional features like gifts and charitable initiatives.

UBS downgrades AMD

Shares of Advanced Micro Devices, Inc.(NYSE:AMD) bounced back 3% to $3.62 on Thursday after slumping 3% in the previous trading session.

Meanwhile, Steven Eliscu, an analyst from UBS, has cut Advanced Micro Devices, Inc.(NYSE:AMD)’s rating from Buy to Neutral and slashed the target price from $6.25 to $4. He sees the company’s prospects being adversely affected by a shrinking market and intense competition from rival Intel.

Has AMD Found The Bottom? Find Out Here

He writes, “Our prior AMD view was based on how expected execution improvements could enable it to drive above industry average sales growth and margin expansion.” He also says, “We now expect structural industry shifts to limit growth as: 1) Smartphones/ tablets have become preferred devices for content consumption, 2) Intel’s reaction to smartphones/tablets is to imbue PCs with their key attributes: thin/light, long- battery life, easy-to-use and visually stunning. As Intel seeks to drive increased ultrabook penetration, we expect AMD to be the most negatively impacted.”