Nokia Sees S&P Downgrade to Junk and 2 More Heavily Traded Stocks to Follow
Nokia Corporation (NYSE:NOK): Current price $4.07
On Friday, Standard & Poor’s sank Nokia further into junk territory, while warning that the telecom’s plan to acquire Siemens’ interest in their joint network equipment venture would greatly press its finances. The ratings agency downgraded the company by one notch, from BB- to B+, citing strains on its net cash after it said on Monday it would purchase Siemens’s 50-percent share in Nokia Siemens Networks. Nokia itself is betting on the tech to operate 4G networks as it experiences difficulties in the smartphones business.
Oracle Corporation (NASDAQ:ORCL): Current price $31.13
ETF Channel says that an examination of analyst recommendations at the major brokerages for the underlying components of the S&P 500, indicates that Oracle has taken the 119th rank from Regeneron Pharmaceuticals. In calculating the rank, analyst opinions from the major brokerage houses were gathered and averaged, then the underlying components were ranked, conforming to those averages.
Linn Energy (NASDAQ:LINE): Current price $23.74
On Friday, shares sank to their lowest price in three years, possibly ending the week down more than 35 percent, while the Securities and Exchange Commission checks out the energy firm’s merger with Berry Petroleum Co., and its accounting practices. Analysts at Global Hunter Securities retained their Reduce rating on the energy company and reduced their price target from $34 to $23.