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Nokia's (NOK) bleeding, now -10.4% premarket after its all-out attempt this morning to return to...

Nokia's (NOK) bleeding, now -10.4% premarket after its all-out attempt this morning to return to profitability by slashing jobs and shuffling management. And selling its Vertu luxury handset business. And promising to consider the sale of other non-core assets. The job-cut count by Stephen Elop, who became CEO less than two years ago, now stands at just under 40,000.
Comments (20)
  • dividend_growth
    , contributor
    Comments (2879) | Send Message
     
    techy46 will 'love' this news.
    14 Jun 2012, 06:04 AM Reply Like
  • mitrado
    , contributor
    Comments (1952) | Send Message
     
    I'm glad I waited... and didn't buy around $2.7. I'll buy at $2.37, though.
    14 Jun 2012, 06:26 AM Reply Like
  • techy46
    , contributor
    Comments (5689) | Send Message
     
    Oh, well they got to get rid of the things that are not contributing. It looks like another Microsoft exec is being put in place. Sure are lots of pessimism.

     

    http://bloom.bg/LEKqnc

     

    Can't wait to see the Q2 and Q3 2012 earnings reports and next weeks Windows Phone 8 details.
    14 Jun 2012, 08:57 AM Reply Like
  • countingudown
    , contributor
    Comments (137) | Send Message
     
    Day late, too many dollars short.
    14 Jun 2012, 06:52 PM Reply Like
  • $CLU
    , contributor
    Comments (207) | Send Message
     
    Wow! This is turning into the ideal short trade stock.
    Like a waterfall of cash.
    14 Jun 2012, 07:09 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8294) | Send Message
     
    Can't wait for the usual suspects to spin this into NOKIA IS GOING TO WIPE THE FLOOR WITH iOS AND ANDROID!!!

     

    True comedy at its finest. lol.
    14 Jun 2012, 07:35 AM Reply Like
  • mitrado
    , contributor
    Comments (1952) | Send Message
     
    ... and here we go again.

     

    Nokia doesn't need to wipe out anyone. It just needs to go back to profitability...

     

    Anyway, we all know the consumers will dictate how things go, and not the incredibly intelligent stock analysts who predict the future by looking only at the present.

     

    30 years ago, the PC industry was separated in various segments: Amiga, Atari, Apple & PC

     

    By far, the PC was the worst of all systems... and it was the one who had the most success, followed by Apple, which was a lot better... but didn't convince many people.

     

    However, Amiga was, by a really long distance, the best of them all... they had the best hardware and the best OS.

     

    Where are they now? Nowhere to be found.
    14 Jun 2012, 07:56 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8294) | Send Message
     
    I knew it wouldn't take long.

     

    lol.
    14 Jun 2012, 08:00 AM Reply Like
  • mitrado
    , contributor
    Comments (1952) | Send Message
     
    "I knew it wouldn't take long."

     

    So to you, DeepValueLover...

     

    "NOKIA IS GOING TO WIPE THE FLOOR WITH iOS AND ANDROID!!!"

     

    ... is the same as ...

     

    "Nokia doesn't need to wipe out anyone. It just needs to go back to profitability..."

     

    Brilliant! :-D

     

    I rest my case.
    14 Jun 2012, 10:48 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8294) | Send Message
     
    So, mitrado, how do they "go back to profitability" without snatching share from Apple and Android?

     

    They can't.

     

    If they somehow do I would call that wiping the floor as no one expects Nokia to take anything from Android and iOS.

     

    Imagine the reaction to a headline that read, "NOKIA STEALS MARKET SHARE FROM APPLE AND ANDROID".

     

    NOK would skyrocket 20% in one trading session.
    15 Jun 2012, 12:18 AM Reply Like
  • mitrado
    , contributor
    Comments (1952) | Send Message
     
    Ah, now I get you.
    To me, "wiping out the floor" means completely destroying the competition... eheheh!

     

    "How do they "go back to profitability" without snatching share from Apple and Android?"

     

    Well, there are a lot of people like me, waiting before getting into the smartphone madness. Also... Rimm customer's will need to get something else, won't they?

     

    Another thing I don't get is:
    - Garmin is quite profitable and it has improved by using Navteq.
    - Nokia owns Navteq & keeps investing in the Nokia Drive solution
    - Why not entering the GPS market?

     

    TomTom, NDrive, Google & Apple use Tele Atlas, which is a horrible system. Anyone with access to Navteq maps is poised to develop better GPS systems.
    15 Jun 2012, 03:52 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8294) | Send Message
     
    OK, OK "wiping the floor" was a bit much.

     

    BTW, Nokia is up 5% today. I am hoping for a few more weeks like today. It would be nice to see it back to $7 by Christmas.
    15 Jun 2012, 11:51 AM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    RIMM is another good short...
    14 Jun 2012, 08:00 AM Reply Like
  • mitrado
    , contributor
    Comments (1952) | Send Message
     
    So ... as you see, 30 years ago had you go all in with the best, like many are doing with Apple, you'd be sitting at a incredible loss today.

     

    Yes, Apple is a terrific company, but if I owned any shares, I'd be selling them while they have so much value, instead of waiting for the inevitable decline.
    Inevitable, yes, cause we live in a world where nothing lasts forever. Only a fool believes in the infinite growth theory.

     

    That's why I look for stocks that are low but have a chance of recovering, instead of chasing all the stocks that are near their 10 year highs and praying the investors keep loving those stocks forever and more.
    14 Jun 2012, 08:03 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8294) | Send Message
     
    " So ... as you see, 30 years ago had you go all in with the best, like many are doing with Apple, you'd be sitting at a incredible loss today."

     

    Because one must hold a stock for three whole decades.
    15 Jun 2012, 12:20 AM Reply Like
  • mitrado
    , contributor
    Comments (1952) | Send Message
     
    "Because one must hold a stock for three whole decades"

     

    ... and oranges are green while the sugar is not inside screwdrivers!?

     

    Sorry, DeepValueLover, but sometimes I feel like you're talking Greek or Russian.
    15 Jun 2012, 04:10 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8294) | Send Message
     
    I'm saying that if you bought stock in market leader in 1982 and now that company is bankrupt or nearly so, there would have been plenty of time to dump the stock.

     

    If Apple has 6 or 7 straight quarters of declining sales and/or increasing costs then it would be prudent to dump them and pick up a new winner.
    15 Jun 2012, 11:53 AM Reply Like
  • ogiflip
    , contributor
    Comments (2) | Send Message
     
    Yeah to buy at 2.37 mitrado that might work. But just one question: Is that the bottom of NOKIA? For example see what happened with ALU, EK, RIMM! But if you search for a small fast profit it's ok.
    14 Jun 2012, 08:36 AM Reply Like
  • mitrado
    , contributor
    Comments (1952) | Send Message
     
    "Yeah to buy at 2.37 mitrado that might work. But just one question: Is that the bottom of NOKIA?"

     

    Guessing the bottom is almost impossible.
    (Was $5.69 the bottom for DNDN, was $10.9 the bottom for TEF, was $2.05 the bottom for GFA? At the moment, it seems... but guessing this things is practically impossible.)

     

    I think NOK shares are already too undervalued... and at this price, I don't mind putting €1000 in it and wait for a few years.

     

    ALU... I don't know.
    I studied the cases of EK and RIMM and I've always stayed away. I didn't see the slightest chance for a turnover.
    EK went under after years and years of accumulated losses...
    RIMM has a few products, all of them absolutely horrible. Ugh.

     

    However, Nokia seems to be doing the right thing... and it's up to the consumers to evaluate the new products and buy them, if they are good enough.

     

    From my perspective, they are... but only time will tell.

     

    ... and I don't get why people assume Nokia won't come up with a different product altogether. They can come up with something completely unexpected... or they can use Navteq to enter the GPS market and start focusing on that instead. Who knows?

     

    They have various possibilities and I don't see them as a dying company... they even continue to make acquisitions: http://bit.ly/L7xHJV

     

    This would make no sense if they were almost bankrupt, would it?

     

    In the end, yes, it's a speculative bet... but at these levels, it's not a very risky one (specially if you have the patience to wait and don't freak out whenever the shares fall even further...)
    14 Jun 2012, 11:02 AM Reply Like
  • Origa
    , contributor
    Comments (543) | Send Message
     
    With this progress Elop has done, then Nokia will delist from NYSE because it is going under 1$.
    14 Jun 2012, 09:50 AM Reply Like
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