Nokia’s Big Reveal, Halliburton Recovers Some Ground, and 3 More Hot Stocks
Nokia Corp. (NYSE:NOK): Nokia has officially pulled the wraps off its first tablet and two large-screen smartphones at its company event in Abu Dhabi on Tuesday, as well as three new, low-end Asha phones. The tablet uses Microsoft’s Windows 8.1 RT operating system and has a 10.1-inch screen, 4G LTE capability and 1080p HD resolution; the two smartphones boast 6-inch screens and a Beamer app that enables the phones to stream the contents of their screens to a separate display. Separately, Third Point Capital’s Daniel Loeb revealed that he has taken up a position in Nokia.
Halliburton Co. (NYSE:HAL): Halliburton stock is recovering after a mildly disappointing quarterly report on Monday as analyst chatter remains positive on the company. Jefferies reiterates its Buy rating on the shares and raised its price target to $60 from $58; Deutsche Bank keeps its Buy rating and raises its price target to a Street-high $84 from $55.
Sears Holdings Corp. (NASDAQ:SHLD): CEO Douglas Campbell said that Sears will sell its flagship Toronto location in Canada if the right opportunity presents itself, a somewhat unsurprising development, as the chain has already sold the leases back to the landlords of a number of its high-profile locations in Canada. “Every store is different and every deal will be different. On a case-by-case basis, Eaton Centre would be no different than any other store we would look at,” he said.
General Motors Co. (NYSE:GM): General Motors may end up being fined after an Indian government-appointed panel looking into General Motors’s recall of 114,000 Tavera vehicles alleged that the company flouted testing regulations, Auto News reports. GM India said in a statement that it identified the violations of company policy and those responsible; it’s facing a fine of $1.6 million or so under the current provisions.
The Gap Inc. (NYSE:GPS): The Gap is trading down as BMO Capital downgraded the chain to Perform from Outperform and brought its price target down to $35 from $50 previous. Analyst John Morris’s field research reportedly revealed “soft consumer demand, elevated inventory, and an increasingly promotional environment.” Morris added that ”with Gap’s design team in transition, mixed reviews on Fall and Holiday product from our channel checks, and enhanced marketing efforts … we see risk to margins.”