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The financial ratings agency states it is lowering its long-term rating on Nokia to BBB from BBB+ "and affirming our A-2 short-term rating," with a negative outlook.
Last month, Nokia reported a 368 million euro ($523 million) loss in the second quarter as it continues to lose ground to its top rivals.
Nokia has a potential upside of 30.5% based on a current price of $5.45 and an average consensus analyst price target
Standard and Poor's lowered its credit rating on Finnish mobile phone company Nokia( NYSE:NOK) partly because of lower than expected device sales in the second quarter.
The bank said that after several quarters of growth above trend for the cyclical sector, advertising growth seems to moving towards normalized growth.
Time Warner has a potential upside of 20.1% based on a current price of $34.53 and an average consensus analyst price target of $41.45.
UBS downgraded Time Warner Inc (NYSE:TWX) to neutral from buy today and reduced its price target for the stock to $37 from $40.
The Agency said it would downgrade U.S.
The United States would probably be unable to maintain its AAA sovereign ratings, even if it just suffered a technical default, Fitch Ratings said on Wednesday.
The bank sees Rite Aid "between a rock and a hard place," and doesn't believe the growth in generics will be able to get RAD out of the red. They project EPS losses for the company in the foreseeable future.
Rite Aid has a potential upside of 7.1% based on a current price of $1.05 and an average consensus analyst price target of $1.13.
UBS initiated coverage of Rite Aid Corp (NYSE:RAD) today with a neutral rating and a price target of $1.10 for the stock.
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From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...
The Wall Street Journal reports that home prices showed their best year-to-date gains since 2005, up 5.9% through July, signaling the housing market's steady march toward recovery. Also from the Wall Street Journal, IBM (IBM) will increase its efforts to sell so-called cloud computing services...
CEO Marissa Mayer is bringing in some more new blood to Yahoo!, tapping Ken Goldman as the company's new Chief Financial Officer. Goldman's appointment will take effect on October 22nd.
Goldman served as CFO at his most recent employer, Fortinet, having worked at Siebel Systems, Sybase,...
