Dominion Lending Centres Clearlease Reports Even deep value investors see little in Nokia (NYSE:NOK)
VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Even investors who see value in beaten down stocks perceive little opportunity in the sinking shares of phone maker Nokia (NYSE:NOK).
“This is an example of where a low price doesn’t mean value,” said David Herro, manager of the Oakmark International Fund , speaking on a panel at the Morningstar investor conference on Thursday June 9, 2011.
Nokia’s value has plunged by more than half since February, after the leak of a memo from new Chief Executive Stephen Elop’s that compared the company’s market position to a man standing on a burning oil platform.
George Evans, director of international equities at Oppenheimer Funds, made reference to Elop’s memo in dismissing the company’s prospects.
“They are getting absolutely clobbered at the top and at the bottom,” Evans said at the Morningstar conference.
Smart phones running Apple and Google software are capturing the high end while low-cost Asian companies are beating Nokia in the market for cheap handsets, he said.
“Nokia has lost its design mojo,” Evans added. “I don’t see how they get out of the hole they’re in. It’s a big mess.”
Earlier on Thursday, Nokia confirmed that its technology chief was on indefinite leave after a media report on strategy disagreements, and a second credit agency cut its rating in another blow for the stricken phone maker.
Shares of Nokia hovered near 13-year lows after Finnish newspaper Helsingin Sanomat said CTO Richard Green had disagreed with CEO Elop over Nokia’s Microsoft-focused smartphone strategy and might not return.
Nokia confirmed that Green was on leave and said it was for personal reasons but declined to comment further on Thursday. Henry Tirri, head of Nokia Research Center, will be acting CTO.
“They appear to be a pretty big share loser and I don’t see where it turns,” said Bob Smith, manager of the T. Rowe Price International Stock Fund .
Oakmark’s Herro, whose fund has outperformed 99 percent of similar funds over the past three years, said he prefers Samsung <005930.KS>, the Korean electronics maker, which is gaining market share in phones.
“They are one of those companies that beat up on Nokia,” Herro said.
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Even investors who see value in beaten down stocks perceive little opportunity in the sinking shares of phone maker Nokia (NYSE:NOK).
“This is an example of where a low price doesn’t mean value,” said David Herro, manager of the Oakmark International Fund , speaking on a panel at the Morningstar investor conference on Thursday June 9, 2011.
Nokia’s value has plunged by more than half since February, after the leak of a memo from new Chief Executive Stephen Elop’s that compared the company’s market position to a man standing on a burning oil platform.
George Evans, director of international equities at Oppenheimer Funds, made reference to Elop’s memo in dismissing the company’s prospects.
“They are getting absolutely clobbered at the top and at the bottom,” Evans said at the Morningstar conference.
Smart phones running Apple and Google software are capturing the high end while low-cost Asian companies are beating Nokia in the market for cheap handsets, he said.
“Nokia has lost its design mojo,” Evans added. “I don’t see how they get out of the hole they’re in. It’s a big mess.”
Earlier on Thursday, Nokia confirmed that its technology chief was on indefinite leave after a media report on strategy disagreements, and a second credit agency cut its rating in another blow for the stricken phone maker.
Shares of Nokia hovered near 13-year lows after Finnish newspaper Helsingin Sanomat said CTO Richard Green had disagreed with CEO Elop over Nokia’s Microsoft-focused smartphone strategy and might not return.
Nokia confirmed that Green was on leave and said it was for personal reasons but declined to comment further on Thursday. Henry Tirri, head of Nokia Research Center, will be acting CTO.
“They appear to be a pretty big share loser and I don’t see where it turns,” said Bob Smith, manager of the T. Rowe Price International Stock Fund .
Oakmark’s Herro, whose fund has outperformed 99 percent of similar funds over the past three years, said he prefers Samsung <005930.KS>, the Korean electronics maker, which is gaining market share in phones.
“They are one of those companies that beat up on Nokia,” Herro said.
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports Even deep value investors see little in Nokia (NYSE:NOK)
VANCOUVER, BC (June 9, 2011) Dominion Lending Centres Clearlease Reports Even investors who see value in beaten down stocks perceive little opportunity in the sinking shares of phone maker Nokia (NYSE:NOK).
“This is an example of where a low price doesn’t mean value,” said David Herro, manager of the Oakmark International Fund , speaking on a panel at the Morningstar investor conference on Thursday June 9, 2011.
Nokia’s value has plunged by more than half since February, after the leak of a memo from new Chief Executive Stephen Elop’s that compared the company’s market position to a man standing on a burning oil platform.
George Evans, director of international equities at Oppenheimer Funds, made reference to Elop’s memo in dismissing the company’s prospects.
“They are getting absolutely clobbered at the top and at the bottom,” Evans said at the Morningstar conference.
Smart phones running Apple and Google software are capturing the high end while low-cost Asian companies are beating Nokia in the market for cheap handsets, he said.
“Nokia has lost its design mojo,” Evans added. “I don’t see how they get out of the hole they’re in. It’s a big mess.”
Earlier on Thursday, Nokia confirmed that its technology chief was on indefinite leave after a media report on strategy disagreements, and a second credit agency cut its rating in another blow for the stricken phone maker.
Shares of Nokia hovered near 13-year lows after Finnish newspaper Helsingin Sanomat said CTO Richard Green had disagreed with CEO Elop over Nokia’s Microsoft-focused smartphone strategy and might not return.
Nokia confirmed that Green was on leave and said it was for personal reasons but declined to comment further on Thursday. Henry Tirri, head of Nokia Research Center, will be acting CTO.
“They appear to be a pretty big share loser and I don’t see where it turns,” said Bob Smith, manager of the T. Rowe Price International Stock Fund .
Oakmark’s Herro, whose fund has outperformed 99 percent of similar funds over the past three years, said he prefers Samsung <005930.KS>, the Korean electronics maker, which is gaining market share in phones.
“They are one of those companies that beat up on Nokia,” Herro said.
Dominion Lending Centres Clearlease Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk