Nokia Ponders Staying in India and 2 Other Hot Stocks to Watch
Nokia Corp. (NYSE:NOK): Current price $4.11
According to Indian Express, the handset maker Nokia has told New Delhi that India is currently “the least favorable market“ and it would rather leave and export its handsets from China. Nokia would not confirm the contents of a letter that was apparently submitted to the government and cited by the report, but company spokesman Brett Young said on Friday that the firm has been in talks with the central Indian government and the state government concerning ways to bring “greater clarity to the business environment in India.”
Barrick Gold Corp. (NYSE:ABX): Current price $20.13
The number-one gold producer on the planet said on Thursday said it will divest three of its high-cost gold mines in Australia to Gold Fields Ltd. at a price of $300 million. The sale is the most recent step by Barrick to re-shape its portfolio and center on lower cost assets, while it endeavors to reinforce its balance sheet during a period of weaker metal prices and soaring capital expenditure costs at its Pascua-Lama gold project in the South American Andes.
Barrick began to look into a sale of the Yilgarn South mines — Granny Smith, Lawlers and Darlot in Western Australia early in 2013. The mines brought percent of Barrick’s gold output in 2012, and under 2 percent of the firm’s proven and probable reserves, as of December 31, 2012.
Advanced Micro Devices Inc. (NYSE:AMD): Current price $3.67
AMD said its Singapore subsidiary has reached a conditional put-and-call option through which to sell and lease-back its Singapore facility located in Singapore to HSBC Institutional Trust Services, in its capacity as trustee of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust.
The transaction should bring proceeds of roughly $46 million, net of all fees, which will be reflected in AMD’s third quarter 2013 financial statements when reported on October 17. The firm expects to record a gain of approximately $16 million in the third quarter.