Nokia’s October Launch Plans, Cisco’s Mixed Demand, and 3 More Hot Stocks
Nokia (NYSE:NOK): The Verge is reporting that Nokia is planning to drop six new devices at its October event, with at least two new Lumias. New accessories will also be launched, one of which is said to be “pretty special.” The 6-inch Lumia phablet will almost certainly be one of the new devices, as its launch was delayed from September in light of Microsoft’s (NASDAQ:MSFT) acquisition of the Nokia device unit.
Cisco Systems (NASDAQ:CSCO): While noting that European demand is recovering and the U.S. is considered a “growth engine,” CEO John Chambers said that emerging market demand is “mixed” during CNBC‘s Closing Bell discussion. Weaker-than-expected guidance and a quarterly miss pushed Cisco shares downward, and Chambers pointed out that some markets were much stronger than others: India and Mexico saw double-digit order growth, Brazil and Russia were flat, and China was down 6 percent.
Chesapeake Energy (NYSE:CHK): Chesapeake confirmed that it has laid off 86 workers, adding that it is on track to end its restructuring by November 1. The new corporate structure will “break down silos” and help increase accountability within the company, CEO Doug Lawler told Chesapeake employees in an email Wednesday.
Wal-Mart Stores Inc. (NYSE:WMT): A story from Bloomberg on Wednesday that reported that Wal-Mart was cutting orders sent shockwaves through the retailer’s supply network, though Wal-Mart is now chalking the results up to a misunderstanding. While denying that it’s cutting orders, Wal-Mart noted that the report mistook the normal ebb and flow of orders as a broader corporate strategy; instead, it is simply a mismatch between sales and inventory buildup.
Barclays PLC (NYSE:BCS): Following the industry trends of downsizing, shedding non-core assets, and business simplification, Barclays will stop offering wealth management services in about 130 countries by 2016. Though the wealth management unit employs around 8,000 people, the bank says that number is not likely to change dramatically because of the strategy.
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