Trending: Nokia Facing Critical Third Quarter
1012 GMT - Nokia is among the most mentioned companies across news items over the past six hours, according to Factiva data, after the company lowered sales growth assumptions across it business units but maintained full-year operating profit guidance. Telecom operators are still cautious with their spending but orders are slowly picking up, the industry is stabilizing, and Nokia expects a significant acceleration in sales growth in the second half. However, Barclays analysts said in a note that with profit guidance maintained despite the second quarter getting a boost from a one-off payment from AT&T, consensus might be too optimistic around the company's second-half performance. Nokia shares were down 6.5% in morning trade and JPMorgan said investor interest in the stock will only strengthen on evidence of a clear recovery. The third quarter could therefore be "a critical period for the company and for the stock," analysts at the bank said in a note. Dow Jones & Co. owns Factiva. (dominic.chopping@wsj.com.)
(END) Dow Jones Newswires
July 18, 2024 06:28 ET (10:28 GMT)
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