Illumina and Nokia Biggest Stock Price Percentage Losers Thursday
Illumina, Inc. (NASDAQ:ILMN): Roche (RHHBY) released the following statement regarding its pending offer for Illumina (NASDAQ:ILMN): We continue to believe that on the basis of the public information that has been available to us, our offer price of $51 per share is full, fair and extremely attractive by every conceivable financial metric. Illumina has to date not provided any quantitative support for their aggressive growth assumptions. We believe that their long term growth expectations are unrealistic and ignore the inherent and significant market and technology risks, said Severin Schwan, CEO of Roche Group.Schwan continued, As we have said earlier, if Illumina were to engage with us, we would consider any information supporting Illumina’s contention that our offer undervalues the company and its prospects. However, because Illumina has refused to enter into negotiations with us, our current analysis is by necessity based solely on publicly available information, and that information does not justify a price in excess of $51 per share. Our goal has always been to enter into a negotiated transaction with Illumina and we firmly believe that our present offer is more than adequate to serve as a basis to begin that negotiation with Illumina. The shares closed at $49.51, down $3.06, or 5.82%. They have traded in a 52-week range of $25.57 to $79.40.
Nokia Corporation (NYSE:NOK): Nokia’s new Lumia 900 smartphone features a cost-reduced design that reveals close cooperation between the handset brand, Microsoft Corp. (NASDAQ:MSFT), and semiconductor supplier Qualcomm (NASDAQ:QCOM), according to iSuppli. This has allowed Nokia to produce a smartphone that has high-end features, but employs less expensive electronic components than are used in comparable products based on Google’s (NASDAQ:GOOG) Android operating system, iSuppli said. The Lumia 900 carries a bill of materials of $209, according to a preliminary analysis by the firm. When the $8.00 manufacturing cost is added in, the cost to produce the Lumia 900 rises to $217, iSuppli added. The shares closed at $4.23, down $0.01, or 0.24%. They have traded in a 52-week range of $4.20 to $9.42.
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