Is Juniper The Next Takeover Target?
Chris DeMuth Jr. • 64 Comments
Chris DeMuth Jr. • 64 Comments
Wed, Jul. 13, 3:41 PM
- Nokia (NOK +5.8%) and Samsung (OTC:SSNLF) have announced an extension of their existing deal allowing both companies to share in specific patent portfolios of the other.
- "The agreement announced today expands access for each company to patented technologies of the other and reinforces Nokia's leadership in technologies for the programmable world. With this expansion, Nokia expects a positive impact to the net sales of Nokia Technologies starting from the third quarter of 2016," reads the release.
- Additionally: "With this expanded agreement, Nokia Technologies' annualized net sales related to patent and brand licensing is expected to grow to a run rate of approximately EUR 950 million by the end of 2016."
- Ramzi Haidamus, president of Nokia Technologies, weighed in as well: "With intellectual property portfolios from Nokia Technologies, Nokia Networks and Alcatel-Lucent, Nokia has a wealth of technologies relevant to mobile devices and beyond. We welcome this expanded agreement with Samsung which recognizes the strength of our assets, and we continue to pursue new licensing opportunities across a number of diverse industries."
- BMO Capital Markets has recently reiterated an Outperform rating on Nokia with a $7 target ($5.92 current price).
Wed, Jul. 13, 9:21 AM
Fri, Jun. 24, 9:11 AM
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Fri, Jun. 24, 4:24 AM
- Tremors from Brazil's biggest bankruptcy filing are extending far beyond the recession-hit country's borders.
- Oi (NYSE:OIBR) is seeking creditor protection on over $150M of accounts payable to international providers from Nokia (NYSE:NOK) and Ericsson (NASDAQ:ERIC) to IBM and Alcatel-Lucent.
- The fixed-line carrier also owes about $1B to foreign development banks in China, Finland, Canada and Germany.
Fri, Jun. 17, 9:39 AM
- Nokia NOK declares FY15 annual of €0.16/share.
- Additionally, the board declared special dividend of €0.10/share payable to the holders of unvested long-term incentives. The exercise price of stock options will be adjusted by deducting special dividend from the exercise price.
- The Board increased the planned maximum number of Restricted Shares to be granted under the Nokia Equity Program 2016 to 5.84M.
Mon, Jun. 13, 10:48 AM
- Nokia (NOK +2.6%) has signed a one-year, €1.36B ($1.5B) framework agreement with China Mobile.
- As part of the framework agreement, Nokia will "continue delivery of mobile, fixed, IP routing, optical transport, customer experience management technologies and operational support as well as global services." Also, China Mobile will be the first carrier to deploy Nokia's AirScale base stations, which support multiple air interfaces (including, eventually, 5G radios).
- Both Nokia and recently-acquired Alcatel-Lucent have been suppliers to China Mobile for some time. However, local equipment vendors Huawei and ZTE have an outsized share of the Chinese mobile infrastructure market.
Fri, Jun. 3, 4:39 PM
- With the high-profile soccer tourney Copa America Centenario getting under way tonight in California, Sprint (NYSE:S) is taking advantage of the attention and foot traffic with a demo of 5G capabilities.
- Partnering with Nokia (NYSE:NOK), the carrier used 73 GHz millimeter wave spectrum to hit download speeds of over 2 Gbps.
- It's a "big deal" to be the first U.S. carrier to demo 5G wireless at a major public event, CTO John Saw says. The technology will "change the way we collaborate, the way we game and virtual reality. ... We're trying to show the use cases."
- The company demonstrated a live streaming virtual reality system from VideoStitch, as well as livestreaming 4K ultra HD video.
- The demo used beam switching to select the best antennas and send targeted signals to devices, and tested how it would deal with obstacles such as different types of window glass.
Wed, May 25, 12:53 PM
- "If you are looking for revenue growth, stop reading. But if you're looking for a bombed-out stock with a reasonable valuation, solid management, strong balance sheet, a lot of bad news behind it, and significant optionality, read on," writes CLSA's Avi Silver, upgrading Nokia (NOK +4%) to Outperform from Underperform.
- Silver, who has upped his target by $1 to $6.25, also thinks earnings estimates could rise as Nokia reaps synergies related to the Alcatel-Lucent merger, and is upbeat about the company's guidance for a 7%+ Networks division op. margin.
- The upgrade comes two weeks after Nokia sold off in response to its Q1 report. and shortly after a Finnish union said the company could cut 10K-15K jobs globally.
Tue, May 24, 6:11 AM
- Nokia (NYSE:NOK) is likely to cut 10-15K employees worldwide as part of a cost-cutting drive following its acquisition of Alcatel-Lucent, Finnish union representative Risto Lehtilahti said.
- The company kicked off the program in April with a target to slash €900M of operating costs by 2018, but it has yet to give a figure for how many jobs will be reduced in total.
- Nokia currently employs around 104K people around the globe.
Fri, May 20, 2:37 PM
- Fresh off news that it's getting back into mobile phones, Nokia (NOK +1%) is slashing 1,032 jobs in Finland, part of cost cuts tied to its takeover of Alcatel-Lucent.
- The company employs about 6,850 in Finland, and a global workforce of about 104,000. Nokia says it's talking with employee representatives in about 30 countries regarding cuts.
- The most recent efficiency program started in April with a target of $1B in operating cost synergies by 2018.
- Now read Is It Time To Buy Nokia? »
Wed, May 18, 12:31 PM
- In tandem with Microsoft's $350M deal to sell its feature phone business (acquired from Nokia in 2014, along with the Lumia smartphone business) to Foxconn unit FIH Mobile and HMD Global (a new company based out of Finland), Nokia (NOK +2.4%) is granting HMD Global an exclusive 10-year license to create Nokia-branded phones and tablets.
- The deal involves the licensing of both Nokia's brand and IP. The company will receive royalties from HMD on sales of Nokia-branded hardware. Notably, HMD will provide a line of Nokia-branded Android phones and tablets to go with feature phones, and will have access to FIH Global's sales/distribution, manufacturing, and engineering resources.
- The announcement comes 11 months after Nokia said it plans to design and license phones that would be manufactured and sold by third parties. Nokia is higher a day after closing just $0.03 above a 52-week low of $5.08 (set on Monday).
Thu, May 12, 3:51 PM
- In a private transaction, Nokia (NOK -1.6%) has agreed to acquire 72.99M of €688.43M Alcatel-Lucent convertible bonds (due January 2019), and 19.94M of the €460.29M convertibles (due January 2020).
- Nokia's paying an aggregate of €418.95M in cash.
- The move means that Nokia will own 94.64% of share capital, and 94.57% of voting rights, in Alcatel-Lucent -- coming to 94.17% of shares (fully diluted).
- Now read Is It Time To Buy Nokia? »
Tue, May 10, 2:26 PM
- Nokia is down 7% following Q1 earnings (in line), but some questions around full-year guidance. Here is what analysts had to say:
- Bernstein: Open-ended guidance is “disturbing,” may create confusion. Wording implies Q2 will be weak. On the other hand, encouraged by strong profitability performance despite very low revenue; puts Nokia (NYSE:NOK) on track to deliver significant earnings growth over coming years.
- SEB: Q1 Ebit “better than feared” mainly due to stronger margin in networks. Analysts will be forced to cut EPS estimates; but more importantly, cash-flow impact was in line with expectations.
- UBS: "Solid enough" given low expectations. Positives: gross margin mix, increased cost synergy target, and good commentary around synergy detail. Negatives: tax-heavy outlook for 2016, FCF was weak. “Never been so pleased to be wrong on forecasting a quarter.”
- Now read Nokia: It's A Yield Play »
Tue, May 10, 4:28 AM
Tue, May 10, 2:39 AM
- Credit Suisse (NYSE:CS) swung to a 302M Swiss franc net loss, as it plowed ahead with restructuring its investment bank, and cautioned that subdued market conditions could continue into Q2.
- Hit by a lower demand in mobile networks, Nokia (NYSE:NOK) reported a net loss of €513M, warning of further cuts and layoffs after the €15.6B acquisition of Alcatel-Lucent.
- SoftBank's (OTCPK:SFTBY) quarterly profit plummeted more than 36%, as turnaround efforts continued at Sprint, the struggling wireless carrier it bought in 2013.
- ING posted a 29% fall in Q1 profit, blaming the drop on higher regulatory costs in Europe and weakness in its financial markets unit.
Mon, May 9, 5:30 PM| Mon, May 9, 5:30 PM | 1 Comment
Nokia Oyj provides network infrastructure, technology and software services. It operates through four segments: Mobile Broadband, Global Services, HERE, and Nokia Technologies. The Mobile Broadband offers network solutions for mobile voice and data services through its Radio and Core clusters... More
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