Lakeway, TX -- (SBWIRE) -- 02/20/2013 -- vbtrendreport.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Mike Walkley, analyst at Canaccord Genuity reiterates a Hold rating and a $4 price target on Nokia-Siemens Networks joint venture of Nokia Corporation (ADR) (NOK) and Siemens AG (SI) that sells wireless network equipment to carriers.
Will NOK Hit $5 This Month? We Have A Special Trend Analysis Here
Walkley concludes that “NSN management will continue its strong execution on its cost-cutting initiatives, positioning NSN for sustained annual operating margins in the 5%-10% range,” despite slowing carrier spending in the latter half of this year.
The analyst was impressed by NSN CEO Rajeev Suri’s leadership and Mr. Ovesen’s expertise in company restructurings, NSN’s restructuring was ahead of plan exiting 2012, resulting in 2012 results ahead of plan and leading to the increased annualized cost savings target of now greater than €1B.
“Despite management’s impressive execution on cost-reduction efforts, we anticipate modest cash burn in 2013 due to our increased working capital assumptions for Devices & Services combined with some severance payments. Nokia ended the year with €4.4B in net cash, and we estimate roughly €3.6B in net cash exiting 2013. Since €1.3B of Nokia’s current net cash balance is contributed by NSN, we include €2.3B of this cash in our sum- of-the-parts analysis directly and consider the NSN cash balance below.”
Following a narrower loss in the fourth quarter, Sealed Air Corp (NYSE:SEE) shares jump by $1.75 or 9.02% to close at $21.15 on Tuesday.
Is SEE a Buy After The Solid Earnings? Find out Here
Sealed Air lost $10.9 million from continuing operations, or 6 cents, per share, for the quarter in comparison to loss of $59.8 million, or 31 cents per share for the last year.
Excluding one-time charges earnings were up from 6 cents per share a year ago to 34 cents per share, surpassing FactSet analyst prediction of 29 cents per share.
Revenue was $1.98 billion, up about 1% from a year ago and beating the $1.94 billion expected by analysts.
For 2013, the company predicted adjusted earnings of between $1.10 and $1.20 per share on revenue of $7.7 to $7.9 billion.
Analysts expected revenue of $7.74 billion.
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