The Finnish Smartphone maker Nokia Corporation (ADR) (NYSE:NOK) tumbled to record low in 16 years after analysts reported sales may be damaged as the United States supplier’s new program won’t work on its present Smartphone.
Nokia, Whose Smartphone’s powered by Microsoft Corporation’s (NASDAQ:MSFT) operating system, fell 11.4% to settle at 1.71 Euros in Helsinki and marked the record low level since August 1996. Shares of the company have lost over 50% of its value current year.
The biggest software maker Microsoft reported on June 20 that its Windows Phone 8 program would continue sale in the second half and that phones operating on previous versions cannot be upgraded. This action may make Nokia’s present models less attractive, damaging the company previously grappling with mounting losses and weighting its dependence on Microsoft.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Research In Motion Limited (USA) (NASDAQ:RIMM) plunged -7.61% to settle at $9.10, Alcatel Lucent SA (ADR) (NYSE:ALU) moved down -7.23% to end at $1.54 while Telefonaktiebolaget LM Ericsson (ADR) (NASDAQ:ERIC) plunged -2.02% to finish on Monday at $8.73.
Nokia Corporation (ADR) (NYSE: NOK) on June 25, 2012 increased -7.98% to the closing price of $2.19. The overall volume in the last trading session was 48.84 million shares. Its fifty two week range was $2.14-$7.38. The total market capitalization remained $8.20 billion.
NOK is down its 52 week low with -4.78% and lagging behind from its 52 week high price with -67.96%. NOK last month stock price volatility remained 4.04%. In its share capital NOK has 3.83 billion outstanding shares among them 3.82 billion shares have been floated in market exchange. NOK stock institutional ownership remained 12.06%.
The stock price of NOK is moving down from its 20 days moving average with -18.12% and remote negatively from 50 days moving average with -27.38%. NOK current year earnings per share experienced a downfall of -162.97% while its current quarter performance remained -55.67%. Company’s beta coefficient included 1.59. Beta factors measures the amount of market risk associated with market trade.
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