Nokia Ex-CEO Writes About Previous Errors and 2 Other Hot Stocks to Watch
Nokia Corp. (NYSE:NOK): Current price $7.15
In his memoir, the former Nokia CEO Jorma Ollila admits that a number of errors were made during his tenure, such as the failure to detect changing customers’ requirements and the development of new software. In his writing, which translates from the Finnish as An Impossible Success, Ollila says that after 2001 Nokia could not maintain its role as the primary innovator in the wireless industry due to tough competition both from the smartphone sector and manufacturers of cheaper handsets in Asia. Several Nokia models turned out flops, and the firm failed to acknowledge popular trends like touch screen models and folding clamshell phones, which Ollila terms in his 450-page memoirs as “predators.”
Ford Motor Co. (NYSE:F): Current price $17.45
As the domestic pickup leader for over three decades, Ford will expand its F-Series truck line for the 2014 model year, to guard its growing lead over Detroit rivals. The company says that eight new F-Series iterations, including an F-150 Tremor half-ton sport truck, will broaden Ford’s pickup portfolio to its biggest ever. Ford’s lead over General Motors Co. and Chrysler Group widened even as the two automakers introduced new trucks inside the past year.
International Business Machines Corp. (NYSE:IBM): Current price $185.22
On Thursday morning, IBM was downgraded to Neutral at UBS after disappointing third-quarter results from Wednesday afternoon. Analyst Steven Milunovich, wrote that “IBM has badly missed not just revenue but profit two of the last three quarters, which is unusual.” The company’s reported earnings per share number met consensus targets, but Milunovich said that a lower tax rate contributed about 40 cents to that figure, commenting that, “The poor near-term results and questions raised about farther out earnings power can’t be ignored.” Shares are down almost 6 percent Thursday in heavy trading, nearing the bottom of their 52-week range.
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