Monday, October 1, 2012

Nokia Corporation Soars 5% In Early Trade (WEN, NOK, NSM, WFR)

The Wendy's Company(NASDAQ:WEN) shares declined 4.97% to $4.30 in the morning hour after Wendys was downgraded by equities researchers at Janney Capital from a “buy” rating to a “neutral” rating in a report issued today. They currently have a $4.75 target price on the stock.

Additionally, the company last posted its quarterly earnings results on August 9. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Wendys will post $0.15 EPS for the current fiscal year.

Nokia Corporation (ADR)(NYSE:NOK) stock gained 5.24% to $2.71 after Nokia Oyj is expected to announce a deal that will give customers of Oracle Corporation access to Nokia's mapping services, the Wall Street Journal reported. The deal may be announced today in San Francisco at the OracleWorld conference.

Will NOK Continue To Move Higher? Find Out Here

Additionally, Credit Suisse downgraded shares of Nokia from a neutral rating to an underperform rating in a report issued today.

Nationstar Mortgage Holdings Inc(NYSE:NSM) stock increased 1.51% to $33.68. The company announced the pricing of $100 million aggregate principal amount of 7.875% Senior Notes due 2020 offered by its wholly-owned subsidiaries Nationstar Mortgage LLC and Nationstar Capital Corp. The Additional Notes are a follow-on issue to the Issuers' $300 million aggregate principal amount of 7.875% Senior Notes due 2020 issued on September 24, 2012 and form a single series of debt securities with the Existing Notes.

MEMC Electronic Materials, Inc.(NYSE:WFR) shares climbed 3.64% to $2.85 in the early hour after the company announced that on September 28, 2012, the Company entered into an amendment to its revolving credit facility to accommodate the new term loan. The revolving credit facility capacity remains at $400,000,000, with interest rates thereunder unchanged. The Company plans to use the proceeds of the second lien term loan for incremental liquidity and general corporate purposes, including the payment of fees and expenses in connection with the closing of the term loan.

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