Thursday, November 1, 2012

Nokia Corporation Gains Another 6% - NOK, NEWP, CLWR, VRSN

Nokia Corporation (ADR)(NYSE:NOK) shares continued to recover from its recent slump and the stock gained for the second consecutive session. The stock is now up 6% at $2.83 after surging about 5% in yesterday’s session.

The company has been suffering from hard times as it has lost its glory amid heavy competition from top three market rulers  in the smartphone industry- iOS, Andrioid, and Windows Phone. At least for now, the company has shown some sort of bounce back from its recently launched Lumia 920, which would be available only on AT&T carrier in US.

Although, the recently launched Lumia models have gained positive reviews, it would be premature to conclude anything. We will know everything once the company’s announce some sort of shipment details later this year.

Also, Rogers has announced that it will be the first carrier to sell the Nokia’s Lumia 920.  John Bynton, Rogers’ Chief Marketing Officer has said that the phone will be available on the shelves of its few select stores soon.  The company has priced to the phone at $99.99 for a 3 year period and $549.99 for a month to month plan.  Currently, the phone is available only in black.

Newport Corporation(NASDAQ:NEWP) is having a solid session as the stock popped up 17% after its Q3 earnings beat EPS estimates late yesterday. Investors are encouraged as the company continues to deliver on the bottom line growth, despite elusive revenue. Additionally, the company also said it is ahead of schedule in its plan to achieve annualized cost savings of $15M.

Clearwire Corporation(NASDAQ:CLWR) is gaining some ground after the recent correction as Mount Kellett Capital, which owns 7.3% of the carrier, issues a letter voicing concerns about Sprint Nextel Corporation(NYSE:S)’s Eagle River share purchase, which leaves it with a majority stake and board control, and the potential for a conflict of interests. Mount Kellett wants Clearwire to "sell a substantial portion of the Company's excess spectrum," something Sprint may not be keen on doing.

Verisign, Inc.(NASDAQ:VRSN) also added 14% to $42.27 after announcing it has agreed to an amendment of the '06 Cooperative Agreement it signed with the Commerce Department. The amendment states Verisign won't renew its deal to run the .com domain name registry without the department's approval, but also states there's an "expectancy of renewal." Verisign adds it believes the DOJ has "substantially concluded its own review process" - shares had sold off on worries about the DOJ/DOC reviews.

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