Nokia (NYSE:NOK) has shelved its Linux-based software platform, code-named Meltemi, planned as an Android-killer and a replacement of its Series 40 software – a casualty to the company’s cost-cutting drive.
The first half yearly profit at Santander (NYSE:SAN) halves after it is forced to provide 1.3 billion euros against doubtful real estate loans in its Spanish markets. NPLs have shot up by 1.17 percent over last year to 5.98 percent and the bank is already at 70 percent of Spanish statutory provisioning limits.
Alcatel-Lucent (NYSE:ALU) reports a quarterly loss of 254 million euros on sales down 10 percent to 3.5 billion euros, its first loss in five quarters; in a scenario of European customers cutting back on spending and Asian competitors pressuring prices, the company embarks on an “aggressive transformation” by cutting 5,000 jobs so as to save 750 million euros.
Shell (NYSE:RDSA) reports Q2 results that compare very unfavorably with last year: net earnings $4.06 billion against $8.66 billion and EPS of $0.65 against $1.39 last year. Total oil and gas production improves just 1.9 percent against market expectations of 4 percent. The company nevertheless hikes its dividend by 2.4 percent to $0.43 per share.