Vodafone Is Set to Double Down on Italy and 2 More Heavily Traded Stocks to Follow
Vodafone Group Public Ltd. Co. (NASDAQ:VOD): Current price $32.89
Vodafone CEO Vittorio Colao told Corriere della Sera that his newly loaded company is set to direct a big part of its “Project Spring” investment spending on Italy, remarking that Italy would become Vodafone’s second-biggest market in Europe. This comes after this week’s $130 billion transaction to sell out of its joint venture Verizon Wireless, which includes Vodafone buying Verizon’s 23 percent stake in Vodafone Italy, Reuters reports.
Nokia Corp. (NYSE:NOK): Current price $5.37
On Friday, Moody’s changed its credit rating on Nokia because of the recently announced divestiture of its handset arm to Microsoft. The ratings agency raised the outlook on Nokia’s ratings from Negative to Developing and affirmed these ratings. The lead analyst on Nokia, Moody’s Vice President Roberto Pozzi, said, ”We have changed the outlook on Nokia’s ratings to developing from negative as we view the proposed sale as a positive step for the company, as it will eliminate a loss-making business as well as improve its business profile.”
Quiksilver Inc. (NYSE:ZQK): Current price $6.85
Quiksilver shares are up about 29 percent Friday on word that the retailer’s third-quarter net income beat Wall Street expectations. Quiksilver posted earnings for the three months ended July 31 of $1.8 million, or 1 cent per share, which was down sharply year-over-year — but not counting restructuring costs, it came to 10 cents per share. Consensus had been for an adjusted profit of 6 cents per share, said FactSet. The company’s revenue fell by 3 percent to $495.8 million, $9 million below estimates, but analysts perceived positive signs.