Nokia The telecommunications company was downgraded to sell by Societe Generale analysts on Monday. "Although recent results for Nokia have been poor, we believe things are likely to get much worse," Societe Generale analysts wrote in a report Monday. "The handset industry is littered with companies that have either stopped production of handsets entirely or have drastically curtailed operations. Recently we noticed that the evolution of Nokia's turnover since 2009 has closely tracked that of Motorola from 2005. Both climbed steadily for two years before falling sharply. Motorola's sales fell 58% in the five quarters from their peak in Q4 2006 and Nokia's sales are down 52% from their high point in Q4 2010 over a five quarter period. However, Motorola's sales carried on falling, down a further 50% over the next two years." Shares of Nokia hit a 52-week low on Monday of $3.01. The stock's 52-week high of $8.73 was set on May 16. Nokia's forward P/E is 17.59; the average for telecommunications equipment companies is 12.47. Twenty of the 29 analysts who cover Nokia rated it hold. Six analysts gave the stock a sell rating and three rated it buy. The stock has fallen 36.72% year to date.
Clearwire "Clearwire believes some recent developments, including Verizon's (VZ, NEUTRAL, $40.25) planned sale of 700MHz A- and B-block spectrum, have created distractions that hinder Clearwire's negotiations with potential customers and spectrum buyers," Guggenheim analysts wrote in a May 10 report. "Clearwire says its priority is to build a long-term viable wholesale business, and it continues to evaluate opportunities to sell spectrum against the opportunity to sign up the potential spectrum buyer as a wholesale customer. We get the sense that the company may be less eager to sell spectrum than some of its shareholders would like." Shares of Clearwire hit a 52-week low of $1.17 on Monday. The stock's 52-week high of $4.77 was set on May 24. Ten of the 16 analysts who cover Clearwire rated it hold. Five analysts gave the stock a buy rating and one rated it sell. The stock has declined 37.37% year to date.
Ivanhoe Mines The company announced on Friday it named David Klinger as its new chairman. "We maintain our Buy rating on IVN shares," Bank of America Merrill Lynch analysts wrote in an April 30 report. "