This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The 5 Dumbest Things on Wall Street This Week: Sept. 14

5. Nokia's No-No

Question: If a picture is worth a thousand words then what's the value of Nokia's (NOK - Get Report) misleading Lumia video?

Answer: One big fat apology and heaps of ridicule from folks like us.

Sorry for the pop quiz folks, but it is back to school season and we here at the 5 Dumbest Lab need to get back up to speed, especially if we intend to catch up to our friends at Nokia. Those flying Finns remain in full sprint, albeit in the wrong direction. Shares of the company have fallen 45% this year.

The flailing smartphone maker apologized last weekend for deceiving viewers into believing that it used the camera from its forthcoming Lumia 920 smartphone to shoot the video used in the gadget's promotional material. Nokia posted the video on sites like YouTube to highlight the supercool effects of its new PureView technology.

Unfortunately, as pointed out by a group of pesky bloggers, the video -- and a few still images to boot -- were not shot on Nokia's phone at all. Nokia confessed that it actually used a hand-held video camera and lighting rig to create the shots for the material, but not before boasting about how the Lumia will level its competitors' offerings.

"This video was produced when the Nokia Lumia 920 was in preproduction," said the company. "While there was no intention to mislead, the failure to add a disclaimer to the video was obviously a mistake, and we apologize for the misunderstanding it did cause."

On the other hand, Nokia did get one shot right and it was most certainly authentic. Too bad it was aimed squarely at its own foot.
1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TIBX $24.03 0.00%
C $46.28 0.00%
MS $27.06 0.00%
NOK $5.87 0.00%
WYNN $88.30 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs