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’[SFTW] Winner takes all…
It’s been a gruesome week in the mobile phone market. The almost embarrassing dominance of Apple (ideas for spending $90bn of spare cash, anyone?) provided a cruel contrast to the desperate plight of the opposition.
Yet another hyperbolic Apple comparison post
This is one of those quintessential CNBC factoids but we may as well note it…
Apple’s market cap, just after the open on Wednesday (both charts via Google Finance):
ExxonMobil’s (previously No.
Platform burns man
Shares in Nokia down 18 per cent at pixel time, after scrapping all guidance and warning on profits again.
Related link:
‘Nokia, our platform is burning’ – FT Alphaville
Nokia’s rebel alliance [updated]
They’re calling it Plan B, which isn’t nearly as fun. This has been doing the rounds in recent days and we offer it in light of debate on the deal with Microsoft:
We are a group of nine young Nokia shareholders.
A tale of two tech companies
As the share price of Nokia continues to sink in the wake of Friday’s distinctly underwhelming tie-up with Microsoft…
… And ARM Holdings continues its seemingly inexorable march higher:
A couple of factors are powering the chip designer’s advance on Monday morning.
Man strolls back into burning platform
Actually — less ‘man jumps off burning platform’, more two elephants romping on an ominously squelching water bed.
Or as Nokia put it on Friday:
- Plans for a broad strategic partnership with Microsoft to build a new global mobile ecosystem;
Snap news
Breaking pre-market news on Friday,
- Nokia announces new leadership, new financial targets and new strategic partnership with Microsoft — statement and statement.
- John Lewis pension fund sells remaining stake in Ocado — statement.
‘Nokia, our platform is burning.’
Perhaps Nokia chief executive Stephen Elop is going to ditch the Meego OS and go with Windows Phone 7 after all.
Breaking on Reuters this Wednesday morning:
NOKIA <NOK1V.HE> ENDS FIRST MEEGO PHONE PROJECT BEFORE LAUNCH -SOURCES
NOKIA <NOK1V.HE>
Dear Nokia and Microsoft CEOs
Required reading ahead of next week’s make-or-break strategy day at Nokia:
Snap news
Breaking pre-market news on Friday,
- Nokia appoints Microsoft’s Stephen Elop as its new CEO — statement.
- Morgan Sindall acquires majority of Connaught contracts — statement.
- Petropavlovsk to list non-precious metals unit in Hong Kong in October — statement.
Snap news
Breaking pre-market news on Tuesday,
- Cable & Wireless Worldwide issues profits warning – statement.
- Aquarius Platinum says working with South Africa’s Department of Mines to determine best practices- statement.
CDS report: M&A activity has contrasting impact on spreads
Markit’s Gavan Nolan wrote this CDS report
After a promising start, European credit indices gave back early gains following disappointing earnings. This morning the Markit iTraxx Europe index broke though the 80bp barrier for the first time in nearly a month and the Markit iTraxx Crossover index tightened below 500bp for the first time since June 2008.
Palm reading
Something put a rocket under the share price of the smartphone maker on Monday night.
Trading volumes were also heavy.
There was also unusual activity in Palm’s call options.
From Schaeffer’s Options Centre (see the last entry).
Day of gloom for tech leaders
Microsoft on Thursday announced its first company-wide job cuts in its 34-year history, capping a day of gloom for the technology sector. The software giant’s plans to cut up to 5,000 jobs came as Sony plunged deeper into crisis after the electronics and entertainment group warned it would suffer its first full-year operating loss in 14 years,
Weekend catch-up
In case you missed these developments:
US regulators close Silver State Bank
US regulators closed Silver State Bank on Friday, the 11th US bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions.
Snap News
The latest on Tuesday,
- Qatar and Euronext unveil plans for integrated cash and derivatives exchange in Doha, Euronext to acquire 25% of Doha securities market for $250m- statement
- Nokia says
Motorola and Lenovo are telling us something: The force is in Finland
It’s all go – or should that be, “stop” – in the mobile telephone industry, for just about everyone except Nokia. Friday’s report of Motorola’s momentous plan to spin-off or sell its flagship mobile handset unit coincided with news that Lenovo is also planning its retreat from the mobile handset business.
Nokia profits soar 46%
Nokia, the world’s largest mobile phone maker, sold four in every 10 phones globally for the first time at the end of last year, boosting full-year operating profits by 46% to €7.9bn ($11.6bn). Shares in the Finnish company climbed 14.6% to €23.74,
Nokia diversifies with $8.1bn Navteq deal
Nokia, the world’s largest mobile phone maker, is to take a giant step into the fast-growing mobile content and services market by acquiring Navteq, the leading provider of digital map information, for $8.1bn in cash.
Nokia in talks to acquire Navteq
Finnish mobile-phone giant Nokia was deep in discussions on Sunday night to purchase navigation-software maker Navteq, reports the Wall Street Journal, citing people familiar with the matter.
With a $7.61bn market cap,
US imposes curbs on Nokia-Siemens joint venture
The US government conducted a security review of the proposed $21bn joint venture agreement between Nokia and Siemens, and forced the European telecoms equipment makers to sign a “mitigation agreement” that imposed restrictions on the new company,