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2021-06-17
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Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.
Jectter
2021-03-15
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Jectter
2021-03-15
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Nokia Will Announce a Renewed Strategy At Its Capital Markets Day
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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623866564,"share":"https://ttm.financial/m/news/1170150919?lang=&edition=fundamental","pubTime":"2021-06-17 02:02","market":"other","language":"en","title":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.","url":"https://stock-news.laohu8.com/highlight/detail?id=1170150919","media":"Tiger Newspress","summary":"U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.The Dow Jones Industrial Average fell 320 points. 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Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p>\n<p>The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p>\n<p>The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p>\n<p>Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p>\n<p>The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p>\n<p>The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p>\n<p>\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p>\n<p>Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p>\n<p>\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p>\n<p>On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-17 02:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.</p>\n<p>U.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.</p>\n<p>The Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.</p>\n<p>Nine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and financials.</p>\n<p>Economic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.</p>\n<p>The policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.</p>\n<p>The Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"</p>\n<p>Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.</p>\n<p>The meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.</p>\n<p>The central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.</p>\n<p>\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"</p>\n<p>Treasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.</p>\n<p>\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"</p>\n<p>On Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170150919","content_text":"Fed holds rates steady, but raises inflation expectations sharply and makes no mention of taper.\nU.S. stocks dropped to their session lows on Wednesday after the Federal Reserve raised its inflation expectations and moved up the time frame on when it will hike interest rates next.\nThe Dow Jones Industrial Average fell 320 points. The S&P 500 traded 0.7% lower after hitting an all-time high in the previous session. The tech-heavy Nasdaq Composite erased earlier gains and traded 0.5% lower.\nNine out of 11 S&P 500 sectors traded in the red, led to the downside by communication services and financials.\nEconomic reopening plays provided the broader market with some support. Major airline stocks American Airlines, United and Delta all traded higher. Royal Caribbean and Carnival both climbed 2% afteran upgrade from Wolfe Research.\nThe policymaking Federal Open Market Committee indicated that rate hikes could come as soon as 2023, after indicating in March that it saw no increases until at least 2024.\nThe Fed also raised its headline inflation expectation to 3.4%, a full percentage point higher than the March projection, the post-meeting statement continued to say that inflation pressures are \"transitory.\"\nChairman Jerome Powell will hold a press conference at 2:30 p.m. ET.\nThe meeting came as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years duringMay, a report on Tuesday showed. This has prompted some, including Paul Tudor Jones, to call for the central bank to re-think its easy monetary policy.\nThe central bank has been buying $120 billion worth of bonds each month as the economy continues to recover from the coronavirus pandemic.\n\"The drama this week will be whether the Fed sits tight or admits that inflation is rising and that the Fed needs to tighten,\" said Brad McMillan, CIO at Commonwealth Financial Network. \"Since the Fed has a dual mandate—unemployment and inflation—that suggests it should indeed keep its focus on unemployment, rather than inflation.\"\nTreasury Secretary Janet Yellen, who is testifying before the Senate Finance Committee Wednesday, said higher price pressures shouldn't last over the long run.\n\"I previously said that I see important transitory influences at work and I don't anticipate that it will be permanent,\" Yellen said. \"But we continue to monitor inflation data very carefully, and importantly for the long run inflation outlook we see inflation expectations by most measures … as being well-anchored.\"\nOn Wednesday,China said it will release industrial metalsincluding copper, aluminum and zinc from its national reserves to curb commodity prices. Copper price has fallen more than 10% from its record high, dipping into correction territory on Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322638375,"gmtCreate":1615800932097,"gmtModify":1704786677106,"author":{"id":"3575079221305270","authorId":"3575079221305270","name":"Jectter","avatar":"https://static.tigerbbs.com/34284aeda2aa2a20e4a406b4aa0d4558","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575079221305270","authorIdStr":"3575079221305270"},"themes":[],"htmlText":"coooopl","listText":"coooopl","text":"coooopl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322638375","repostId":"1173461062","repostType":4,"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322698235,"gmtCreate":1615800218627,"gmtModify":1704786663327,"author":{"id":"3575079221305270","authorId":"3575079221305270","name":"Jectter","avatar":"https://static.tigerbbs.com/34284aeda2aa2a20e4a406b4aa0d4558","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575079221305270","authorIdStr":"3575079221305270"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/322698235","repostId":"1173461062","repostType":4,"repost":{"id":"1173461062","pubTimestamp":1615799449,"share":"https://ttm.financial/m/news/1173461062?lang=&edition=fundamental","pubTime":"2021-03-15 17:10","market":"us","language":"en","title":"Nokia Will Announce a Renewed Strategy At Its Capital Markets Day","url":"https://stock-news.laohu8.com/highlight/detail?id=1173461062","media":"InvestorPlace","summary":"Nokia (NYSE:NOK) plans to announcing some major changes on March 18 during its Capital Markets Day e","content":"<p><b>Nokia</b> (NYSE:<b><u>NOK</u></b>) plans to announcing some major changes on March 18 during its Capital Markets Day event. Let’s hope it comes up with something drastic that will help prevent NOK stock from its constant decline.</p>\n<p>The 5G telecom system maker wants to make its strategy more focused and employ a “more rigorous approach to capital allocation.”</p>\n<p>A strategy change is in order. In the last month NOK stock is down 5% to less than $4 per share. Year-to-date the stock is about flat, up just 2%.</p>\n<p>Problems in Its Business Outlook</p>\n<p>The company indicated in its recently released annual report that on March 18 it will announce a new strategy. On page 16 of the report the company said:</p>\n<blockquote>\n ”\n <i>“Rebalancing for Growth” will be replaced with a refreshed corporate strategy. This will be announced at Capital Markets Day on March 18, 2021.</i>“\n</blockquote>\n<p>Management had better do something. Nokia has been having difficulties with its main business. According to<i>Reuters</i>, the company said revenue at its mainstaynetworks business fell 7% to 5.04 billion euros ($6.05 billion). In addition growth in its 5G equipment sales in the quarter was partially offset by decreases in its legacy radio access products.</p>\n<p>Reports surfaced in mid-2020 that Nokia was potentially going to lose a part of its<b>Verizon</b>(NYSE:<b><u>VZ</u></b>) 5G contract. The company never confirmed this. But Nokia’s new CEO Pekka Lundmark told investors when its 2020 results were released, he expected they would lose market share in North America in 2021. In addition, he warned about price decreases.</p>\n<p>The company has already reorganized into four main divisions and spent 2020 cutting costs. This has had significant results. AsI wrote last month, the company reported 1.356 billion EUR ($1.61 billion) in free cash flow for 2020. Most of that came in the second half and over half of it was during Q4.</p>\n<p><b>Lower Sales Forecast</b></p>\n<p>Nevertheless, Nokia says it expects a second year of declining sales,according to the<i>Financial Times</i>, and a “significant decline” in its core mobile networks. Citing the company’s outlook section on page 6 of its Feb. 4 earnings press release, the FT said the company forecasts 21.8 EUR billion in sales vs. 21.9 EUR billion in 2020. However, the actual statementby the company is:</p>\n<blockquote>\n “\n <i>EUR 20.6 billion to EUR 21.8 billion, assuming continuation of 2020 year-end EUR/USD rate of 1.23</i>“\n</blockquote>\n<p>So far this year, the EUR to USD exchange rate has shown dollar strength. It has risen from $1.21 at the beginning of the year to $1.19 now. This means that dollar revenue will translate into higher amounts of euros than forecast. Therefore, it is possible that in 2021 sales will not fall compared to 2020.</p>\n<p>Nevertheless, the new CEO told the FT that “he was willing to sacrifice a little bit of profitability” in order to regain leadership in 5G technology. The FT said there was a logical question why Nokia had not won more 5G accounts, given the U.S.-led campaign against<b>Huawei</b>, its Chinese competitor. The FT article implied that was why the CEO and chairman at Nokia were replaced.</p>\n<p>No Dividend Won’t Help NOK Stock</p>\n<p>Nokia cut its dividend in late 2019 and indicated it would restore itonce net cash was above 2 billion euros. On Feb. 5 management reported that its net cash and investments were now 2.485 billion euros. But it still declined to pay the dividend. Here is what Nokia’s president said onpage 2 of its Feb. 4 press release:</p>\n<blockquote>\n “\n <i>Regarding dividend, we are pleased with Nokia’s recent operational performance and satisfied that we have strengthened our cash position.</i>“\n</blockquote>\n<p>This was some sort of attempt to recognize that it previously had said it would restore the dividend if net cash rose to 2 billion euros. But now there is a new hurdle:</p>\n<blockquote>\n “\n <i>However, with the focus on increased investments in 5G and strategic areas, while continuing to establish a track record of sustainable cash generation, the Board does not propose a dividend or dividend authorization for the financial year 2020. We intend to provide an update on our dividend policy latest at Capital Markets Day. “</i>\n</blockquote>\n<p>In other words, now we have to wait until Capital Markets Day to find out when the company will pay a dividend, if ever.</p>\n<p>Don’t expect the stock to move higher until its dividend policy is clarified, once again … maybe. The company seems to be willing to make statements that it will not honor in relation to the dividend.</p>\n<p>Therefore, don’t expect the market to be very impressed on Capital Markets Day. Its actions will speak louder than words, at least in terms of the dividend.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nokia Will Announce a Renewed Strategy At Its Capital Markets Day</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNokia Will Announce a Renewed Strategy At Its Capital Markets Day\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-15 17:10 GMT+8 <a href=https://investorplace.com/2021/03/nok-stock-wont-rise-without-sticking-to-a-new-dividend-policy/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nokia (NYSE:NOK) plans to announcing some major changes on March 18 during its Capital Markets Day event. Let’s hope it comes up with something drastic that will help prevent NOK stock from its ...</p>\n\n<a href=\"https://investorplace.com/2021/03/nok-stock-wont-rise-without-sticking-to-a-new-dividend-policy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NOK":"诺基亚"},"source_url":"https://investorplace.com/2021/03/nok-stock-wont-rise-without-sticking-to-a-new-dividend-policy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173461062","content_text":"Nokia (NYSE:NOK) plans to announcing some major changes on March 18 during its Capital Markets Day event. Let’s hope it comes up with something drastic that will help prevent NOK stock from its constant decline.\nThe 5G telecom system maker wants to make its strategy more focused and employ a “more rigorous approach to capital allocation.”\nA strategy change is in order. In the last month NOK stock is down 5% to less than $4 per share. Year-to-date the stock is about flat, up just 2%.\nProblems in Its Business Outlook\nThe company indicated in its recently released annual report that on March 18 it will announce a new strategy. On page 16 of the report the company said:\n\n ”\n “Rebalancing for Growth” will be replaced with a refreshed corporate strategy. This will be announced at Capital Markets Day on March 18, 2021.“\n\nManagement had better do something. Nokia has been having difficulties with its main business. According toReuters, the company said revenue at its mainstaynetworks business fell 7% to 5.04 billion euros ($6.05 billion). In addition growth in its 5G equipment sales in the quarter was partially offset by decreases in its legacy radio access products.\nReports surfaced in mid-2020 that Nokia was potentially going to lose a part of itsVerizon(NYSE:VZ) 5G contract. The company never confirmed this. But Nokia’s new CEO Pekka Lundmark told investors when its 2020 results were released, he expected they would lose market share in North America in 2021. In addition, he warned about price decreases.\nThe company has already reorganized into four main divisions and spent 2020 cutting costs. This has had significant results. AsI wrote last month, the company reported 1.356 billion EUR ($1.61 billion) in free cash flow for 2020. Most of that came in the second half and over half of it was during Q4.\nLower Sales Forecast\nNevertheless, Nokia says it expects a second year of declining sales,according to theFinancial Times, and a “significant decline” in its core mobile networks. Citing the company’s outlook section on page 6 of its Feb. 4 earnings press release, the FT said the company forecasts 21.8 EUR billion in sales vs. 21.9 EUR billion in 2020. However, the actual statementby the company is:\n\n “\n EUR 20.6 billion to EUR 21.8 billion, assuming continuation of 2020 year-end EUR/USD rate of 1.23“\n\nSo far this year, the EUR to USD exchange rate has shown dollar strength. It has risen from $1.21 at the beginning of the year to $1.19 now. This means that dollar revenue will translate into higher amounts of euros than forecast. Therefore, it is possible that in 2021 sales will not fall compared to 2020.\nNevertheless, the new CEO told the FT that “he was willing to sacrifice a little bit of profitability” in order to regain leadership in 5G technology. The FT said there was a logical question why Nokia had not won more 5G accounts, given the U.S.-led campaign againstHuawei, its Chinese competitor. The FT article implied that was why the CEO and chairman at Nokia were replaced.\nNo Dividend Won’t Help NOK Stock\nNokia cut its dividend in late 2019 and indicated it would restore itonce net cash was above 2 billion euros. On Feb. 5 management reported that its net cash and investments were now 2.485 billion euros. But it still declined to pay the dividend. Here is what Nokia’s president said onpage 2 of its Feb. 4 press release:\n\n “\n Regarding dividend, we are pleased with Nokia’s recent operational performance and satisfied that we have strengthened our cash position.“\n\nThis was some sort of attempt to recognize that it previously had said it would restore the dividend if net cash rose to 2 billion euros. But now there is a new hurdle:\n\n “\n However, with the focus on increased investments in 5G and strategic areas, while continuing to establish a track record of sustainable cash generation, the Board does not propose a dividend or dividend authorization for the financial year 2020. We intend to provide an update on our dividend policy latest at Capital Markets Day. “\n\nIn other words, now we have to wait until Capital Markets Day to find out when the company will pay a dividend, if ever.\nDon’t expect the stock to move higher until its dividend policy is clarified, once again … maybe. The company seems to be willing to make statements that it will not honor in relation to the dividend.\nTherefore, don’t expect the market to be very impressed on Capital Markets Day. Its actions will speak louder than words, at least in terms of the dividend.","news_type":1},"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":322698235,"gmtCreate":1615800218627,"gmtModify":1704786663327,"author":{"id":"3575079221305270","authorId":"3575079221305270","name":"Jectter","avatar":"https://static.tigerbbs.com/34284aeda2aa2a20e4a406b4aa0d4558","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575079221305270","idStr":"3575079221305270"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/322698235","repostId":"1173461062","repostType":4,"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163857452,"gmtCreate":1623877297976,"gmtModify":1703822109821,"author":{"id":"3575079221305270","authorId":"3575079221305270","name":"Jectter","avatar":"https://static.tigerbbs.com/34284aeda2aa2a20e4a406b4aa0d4558","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575079221305270","idStr":"3575079221305270"},"themes":[],"htmlText":"f","listText":"f","text":"f","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/163857452","repostId":"1170150919","repostType":4,"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322638375,"gmtCreate":1615800932097,"gmtModify":1704786677106,"author":{"id":"3575079221305270","authorId":"3575079221305270","name":"Jectter","avatar":"https://static.tigerbbs.com/34284aeda2aa2a20e4a406b4aa0d4558","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575079221305270","idStr":"3575079221305270"},"themes":[],"htmlText":"coooopl","listText":"coooopl","text":"coooopl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/322638375","repostId":"1173461062","repostType":4,"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
