에 대한 최신 뉴스 Nokia (NYSE:NOK) 주식

Nokia

Nokia provides telecom equipment and services that are used to build wireless and fixed-line networks. It operates in four segments. The mobile networks segment, which sells equipment and services to telecom carriers to power public wireless networks, is the largest, followed closely by network infrastructure. Network infrastructure focuses on fixed networks, including infrastructure, solutions, and components for IP networks, optical networks, and submarine networks. Cloud and network services is a nascent segment catering to enterprises with as-a-service platforms. Nokia also has a sizable research division and patent business, where it licenses technology used by handset providers, consumer electronics firms, and other firms making electronic and Internet of Things products.

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금요일 오전 (미 동부 시간 기준) 미국 주식 선물 거래가 혼조세를 보이고 있는 가운데 오늘 투자자들의 관심을 끌 수 있는 주식은 다음과 같다: 크라운 크래프(NASDAQ:CRWS)는 개장 전 4분기 실적을 발표할 예정이다. 크라운 크래프트의 주식은 시간외 거래에서 1% 상승한 5.05달러를 기록했다.

금요일 주목해야 할 주식: 나이키, 인피네라, 노키아 그리고 2종목

After-Hours Center

Movers

인피네라 코퍼레이션(NASDAQ:INFN)의 주가는 노키아(NYSE:NOK)가 인피네라를 주당 6.65달러에 인수할 것이라고 발표한 후 목요일 시간외 거래에서 급등했다. 상세 내용 (The Details): 두 회사는 노키아가 인피네라를 주당 6.65달러, 기업 가치 23억 달러로 평가하는 거래를 통해 인수하는 최종 계약을 발표했다.

인피네라: 노키아의 인수 발표에 주가 급등

Nokia Corporation Sponsored American Depositary Shares

Nokia Oyj

NOK AIRLINES PUBLIC CO by Nok Airlines Public Co Ltd.

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NOK Corp

Nokian Tyres PLC

NOKIAN TYRES PLC UNSP/ADR by Nokian Tyres Plc.

Nokia Rapid's Technology Assets And R&D Unit, Terms Not Disclosed

Nokia today announced it has signed a multi-year patent license agreement with HP covering the use of Nokia's video technologies in HP's devices. Under the agreement HP will make royalty payments to Nokia. The agreement resolves all patent litigation between the parties, in all jurisdictions. The terms of the agreement remain confidential as agreed between the parties. &nbsp;

Legal

Tech

Nokia Signs Patent License Agreement With HP; Resolves All Patent Litigation

Nokia Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) stock rebounded Friday from Thursday&#8217;s selloff, as its quarterly report failed to impress the Street.
The Finnish telecom company clocked a <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41377782/nokia-q3-earnings-miss-ceo-cites-telecom-weakness-and-anticipates-india-demand-rebound" rel="noreferrer noopener">fiscal third-quarter</a> net sales decline of 8% to $4.76 billion), missing the consensus estimate of&nbsp;$5.34 billion. The topline decline marked weakness in the Indian market.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41326902/ericsson-q3-earnings-gains-from-at-t-boost-ceo-signals-north-american-recovery" rel="noreferrer noopener">Ericsson Q3 Earnings: Gains From AT&amp;T Boost, CEO Signals North American Recovery</a>
Nokia&#8217;s market share in North America dropped after losing contracts with Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>).
CEO Pekka Lundmark told Reuters that telecom remains a limited growth market for Nokia despite some recovery. Lundmark highlighted that Nokia is now focusing on the data center and defense sectors for growth.
He also pointed to a demand rebound in India, supported by the Vodafone Idea deal and a possible contract with Bharti Airtel.
Meanwhile, Nokia has slashed around 2,000 employees across Greater China and 350 jobs across Europe to cut costs, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-17/nokia-cuts-almost-2-000-china-jobs-amid-difficult-telecom-market?sref=TBDibEcD" rel="noreferrer noopener">cites</a> familiar sources.
The cost cuts are part of Nokia&#8217;s plans to slash up to 14,000 jobs to save 800 million euros ($868 million)-1.2 billion euros by 2026, Reuters reports.
Reuters cites Nokia&#8217;s annual report as stating that as of December 2023, it had 10,400 employees in Greater China and 37,400 in Europe.
The U.S. sanctions on Chinese smartphone giant Huawei Technologies Co cost Nokia its China market, which generated 27% of its sales in 2019, as per Reuters. Greater China generated 6% of Nokia&#8217;s sales in the current quarter.
Chinese operators retaliated against the U.S. embargo by snubbing European equipment. Nokia already sold part of a joint venture with Huawei in China in 2024.
<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40849328/networking-giant-nokia-seeks-new-ceo-amid-declining-sales-and-subdued-share-price" rel="noreferrer noopener">Prior reports indicated</a> Nokia&#8217;s plans to replace Lundmark because he failed to drive revenue for the company. However, the company snubbed the report and acknowledged their faith in Lundmark&#8217;s leadership.
Price Action: NOK stock is up 9.01% at $4.73 at the last check on Friday.
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Photo via Nokia

Media

What's Going On With Nokia Stock On Friday?

WIIM

Nokia shares are trading higher after falling Thursday on worse-than-expected Q3 results. It was also reported the company will cut jobs in China and Europe.

Northland Capital Markets analyst Tim Savageaux reiterates Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) with a Outperform and maintains $6.5 price target.

Price Target

Reiteration

Analyst Ratings

Northland Capital Markets Reiterates Outperform on Nokia, Maintains $6.5 Price Target

U.S. stocks were mixed , with the Nasdaq Composite gaining around 100 points on Friday.
Shares of Autoliv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALV#NYSE">ALV</a>) rose sharply during Friday's session after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/10/41403377/autoliv-surges-despite-mixed-q3-results-chinese-market-mix-drags-performance">third-quarter sales results</a>.
The company reported third-quarter adjusted earnings per share of $1.84, missing the analyst consensus of $1.95. Quarterly revenues of $2.56 billion topped the street view of $2.53 billion.
Autoliv shares jumped 5.5% to $99.13 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) gained 19% to $18.73. Amazon Web Services recently announced plans to invest over $500 million in nuclear power.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) gained 18.7% to $22.25.</li>
<li>Telephone and Data Systems, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDS#NYSE">TDS</a>) climbed 18% to $29.80.</li>
<li>Peloton Interactive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTON#NASDAQ">PTON</a>) gained 14% to $6.01. Peloton Interactive will release its first quarter fiscal 2025 results before the opening bell on Thursday, Oct. 31.</li>
<li>Uxin Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UXIN#NASDAQ">UXIN</a>) jumped 13.1% to $6.47. Uxin recently announced a strategic partnership with Wuhan City Economic &amp; Technological Development Zone.</li>
<li>United States Cellular Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USM#NYSE">USM</a>) gained 13.1% to $66.39. after the company announced the sale of a portion of its retained spectrum licenses to Verizon for $1 billion.</li>
<li>XCHG Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCH#NASDAQ">XCH</a>) gained 12.7% to $22.08.</li>
<li>ClearPoint Neuro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLPT#NASDAQ">CLPT</a>) surged 11.2% to $13.42. ClearPoint Neuro will release financial results for its 2024 third quarter on Thursday, Nov. 7, after the market close.</li>
<li>Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) gained 10.5% to $759.82 following upbeat quarterly results.</li>
<li>IonQ, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NASDAQ">IONQ</a>) surged 8.8% to $13.61. IonQ will report third quarter financial results on Nov. 6.</li>
<li>Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) gained 8.8% to $515.57 following better-than-expected third-quarter financial results.</li>
<li>Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) gained 6.3% to $4.6150. Nokia recently company reported worse-than-expected third-quarter EPS and sales.</li>
</ul>
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Intraday Update

CLPT

IONQ

ISRG

NFLX

OKLO

PTON

UXIN

Autoliv Posts Strong Sales, Joins United States Cellular, Netflix, Intuitive Surgical And Other Big Stocks Moving Higher On Friday

<a href="https://www.reuters.com/business/media-telecom/nokia-cuts-2000-jobs-china-350-europe-part-cost-cuts-sources-say-2024-10-17/">https://www.reuters.com/business/media-telecom/nokia-cuts-2000-jobs-china-350-europe-part-cost-cuts-sources-say-2024-10-17/</a>
Nokia <a href="https://www.reuters.com/markets/companies/NOKIA.HE">(NOKIA.HE), opens new tab</a> has laid off close to 2,000 people or about a fifth of its employee base across Greater China and plans to cut another 350 jobs across Europe as part of efforts to lower costs, according to two sources familiar with the matter.
A Nokia spokesperson confirmed the company had opened consultations relating to laying off 350 employees in Europe but declined to comment on Greater China.
As of December 2023, Nokia had 10,400 employees in Greater China and 37,400 employees in Europe, according to its <a href="chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.nokia.com/system/files/2024-03/nokia-annual-report-2023.pdf">annual report, opens new tab</a>.
The company <a href="https://www.reuters.com/business/media-telecom/nokia-sales-drop-slowing-5g-gear-demand-2023-10-19/">laid out plans</a> last year to cut up to 14,000 jobs to reduce costs and save between 800 million euros ($868 million) and 1.2 billion euros by 2026.
The cuts are part of that plan, the sources said.
China was once the second-largest market for Nokia. But after western countries started banning Huawei (HWT.UL) from 2019, contracts from Chinese telecom operators reduced for both Nokia and Ericsson&nbsp;
In 2019, about 27% of Nokia's net sales came from Greater China compared with under 6% in the latest quarter.
Nokia still has several offices in Beijing and Shanghai, along with Hong Kong and Taiwan, which are part of the company's Greater China region, from where it services <a href="https://www.reuters.com/technology/nokia-wins-first-5g-radio-contract-china-2021-07-19/">clients</a> such as China Mobile&nbsp;
On Thursday, Nokia <a href="https://www.reuters.com/business/media-telecom/nokia-q3-operating-profit-beats-expectation-2024-10-17/">reported</a> a 9% rise in third-quarter operating profit mostly due to cost cuts. But its net sales missed estimates, sending its shares down 4%.
The company has already achieved 500 million euros of gross savings, the spokesperson said.
"We are not doing cost cutting in such a way that we would sacrifice our R&amp;D output," CEO Pekka Lundmark said in a call with reporters. "I am happy with the pace of cost reduction. We are actually a bit ahead of the schedule that we had."
When Nokia <a href="https://www.reuters.com/business/media-telecom/nokia-sales-drop-slowing-5g-gear-demand-2023-10-19/">announced</a> the job cuts last year, it had total employees of about 86,000 and planned to reduce its base to between 72,000 and 77,000 employees by 2026.

Management

Reported Earlier, 'Nokia Cuts 2,000 Jobs In China, 350 In Europe As Part Of Cost Cuts, Sources Say' - Reuters News

U.S. stock futures were mostly higher this morning, with the Nasdaq futures gaining around 100 points on Thursday.
Shares of CSX Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) fell sharply in today's pre-market trading after the company reported <a href="https://www.benzinga.com/news/earnings/24/10/41369567/csx-stock-falls-after-worse-than-expected-q3-results-details">third-quarter earnings below analyst estimates.</a>
CSX reported quarterly GAAP earnings of 46 cents per share, which missed the consensus estimate of 48 cents per share. Quarterly revenue came in at $3.62 billion, also missing the consensus estimate of $3.676 billion. The company said its total volume of 1.59 million units for the quarter was 3% higher as compared to the third quarter of 2023.
CSX shares dipped 5.4% to $33.55 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>ProQR Therapeutics N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRQR#NASDAQ">PRQR</a>) shares dipped 16.2% to $3.37 in pre-market trading after surging 122% on Wednesday.</li>
<li>Lucid Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) declined 14.6% to $2.80 in pre-market trading after the company announced a public offering of common stock, along with a corresponding investment by an affiliate of the Public Investment Fund.</li>
<li>Lilium N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LILM#NASDAQ">LILM</a>) shares fell 13.2% to $0.6350 in pre-market trading.</li>
<li>Capricor Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPR#NASDAQ">CAPR</a>) shares fell 10.6% to $18.33 in pre-market trading. The company commenced its public offering of common stock.</li>
<li>Cerus Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CERS#NASDAQ">CERS</a>) shares fell 8.8% to $1.64 in pre-market trading after the company provided updates on its INTERCEPT red blood cell programs in the US and Europe.</li>
<li>KE Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NASDAQ">BEKE</a>) shares declined 7.7% to $20.23 in pre-market trading after gaining around 5% on Wednesday.</li>
<li>MINISO Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NASDAQ">MNSO</a>) shares fell 6.4% to $15.41 in pre-market trading.</li>
<li>Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) shares fell 5.4% to $4.22 in pre-market trading following downbeat third-quarter results. </li>
</ul>
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BEKE

CAPR

CERS

LCID

LILM

MNSO

PRQR

CSX Posts Weak Earnings, Joins Lucid Group, Nokia And Other Big Stocks Moving Lower In Thursday's Pre-Market Session

Nokia shares are trading lower after the company reported worse-than-expected Q3 EPS and sales.

Nokia Corp&nbsp;(NYSE: NOK)&nbsp;reported a fiscal third-quarter net sales decline of 8% year-on-year (7% in constant currency) to 4.33 billion euros ($4.76 billion), missing the analyst consensus estimate of&nbsp;<a target="_blank" href="https://www.nokia.com/about-us/investors/" rel="noreferrer noopener">$5.34 billion</a>.
The comparable EPS was $0.07 (0.06 euros), compared to the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $0.08</a>.&nbsp;The stock slid after the quarterly print.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41326902/ericsson-q3-earnings-gains-from-at-t-boost-ceo-signals-north-american-recovery" rel="noreferrer noopener">Ericsson Q3 Earnings: Gains From AT&amp;T Boost, CEO Signals North American Recovery</a>
The topline decline reflects weakness in the Indian market.
The reported net income is 175 million euros, up from 133 million&nbsp;euros a year&nbsp;ago. Comparable net profit was 358 million euros, up from 293 million euros a year earlier.
Network Infrastructure sales increased by 1% year over year in CC. Cloud and Network Services sales decreased by 4% year over year in CC due to the divestment of the Device Management and Service Management Platform businesses.
Nokia Tech sales climbed by 35% year over year in CC, driven mainly by signing patent license agreements with Oppo and Vivo.
Mobile Network sales declined by 17% year over year in CC, driven by a decrease in India.
Margins: Gross margin climbed by 500 bps to 45.2%, and comparable gross margin improved by 490 bps to 45.7%. The margins mainly reflected an improvement in Mobile Networks.
The operating margin increased by 70 bps to 5.7%, and the comparable operating margin improved by 160 bps to 10.5%, mainly due to higher gross margin and continued cost control.
In the third quarter, Nokia&nbsp;held 5.5 billion euros in net cash and generated 0.6 billion euros in free cash flow.
Dividend: The Board resolved to distribute a dividend of 0.03 euros per share.
CEO Pekka Lundmark expects a significant acceleration in growth in the fourth quarter in Network Infrastructure. In Mobile Networks, it secured several vital deals in the quarter. In Cloud and Network Services, the company noted momentum in 5G Core and substantial progress in network automation, cloudification, and enabling network APIs. He added that Nokia Technologies continues to benefit from more excellent stability following the conclusion of its smartphone renewal cycle and is making good progress in expanding into new growth areas.
Nokia&#8217;s market share declined in North America after it lost contracts with Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), Reuters reports. Lundmark told Reuters that telecom would never be a huge growth market for Nokia despite the recovery, which was weaker than expected. Nokia&#8217;s total addressable market in telecom is $84 billion, he told Reuters.
As per Lundmark, Nokia has been targeting the data center and defense sectors to boost growth.
Lundmark flagged to Reuters demand recovery in India backed by the Vodafone Idea&nbsp;deal <a target="_blank" href="https://www.benzinga.com/news/24/10/41366665/whats-going-on-with-nokia-stock" rel="noreferrer noopener">and a potential</a> Bharti Airtel contract.
FY24 Outlook: Nokia&nbsp;expects (6)%–(3)% (prior (2)%–3%) growth for Network Infrastructure sales, (22)%–(19)% (prior (19)%–(14)%) change in Mobile Networks sales, and (7)%–(4)% (prior (5)%–0%) change in Cloud and Network Services sales.
Nokia reiterated a <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39834407/nokias-q2-earnings-record-low-revenue-as-5g-investment-slows-annual-outlook-cut-stock-slides" rel="noreferrer noopener">comparable operating profit</a> of between 2.3 billion euros and 2.9 billion euros and free cash flow conversion from a comparable operating profit of 30%—60%.
The&nbsp;fiscal 2024 revenue and&nbsp;adjusted EPS consensus&nbsp;are <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$22.22 billion</a> and $0.37.
Nokia stock is up 28% in the last 12 months.
Price Action: NOK stock is down 5.16% at $4.23 premarket at the last check on Thursday.
Image: Nokia
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</ul>

Equities

Guidance

Nokia Q3: Earnings Miss, CEO Cites Telecom Weakness And Anticipates India Demand Rebound

Technology stocks, specifically chipmakers, could lead from the front on Thursday as a<a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips"> stellar third-quarter earnings report </a>from Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) is triggering positive sentiment toward all artificial intelligence plays. Oil prices have rebounded and gold traded at a fresh record, while bond yields held steady ahead of a slew of market-moving data that include retail sales, a regional manufacturing activity index, industrial production, and jobless claims.
Earnings news could provide an offsetting impact in the eventuality of the market construing the economic data as inclement. Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is the first among the mega-cap earnings due after the market close and the results could evince interest among traders and set the tone for the tech reporting season.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.81%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.42%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.11%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.09%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) edged up 0.42% to $584.76 and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.83% to $495, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Cues From Last Session:
Small-caps ripped higher on Wednesday, extending their recent gains amid hopes of a benign economic environment but the major averages opened on a tentative note. Solid earnings reports from financial companies and strong gains by real-estate and utility stocks helped the major indices close firmly in the green.
The Dow Jones Industrial Average turned solidly higher immediately after spending the better part of the session above the unchanged line. The 30-stock blue-chip average ended at a fresh high, although it did not have enough momentum to break above its Oct. 15 intraday high of 43,277.78.
The S&amp;P 500 Index and the Nasdaq Composite had a lackluster first-half before picking up momentum in the afternoon. 
Of the 11 S&amp;P 500 sector classes, only communication services and consumer discretionary stocks declined in Wednesday&#8217;s session.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+0.28%</td>
<td>18,367.08</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.47%</td>
<td>5,842.47</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.79</td>
<td>43,077.70</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.64%</td>
<td>2,286.68</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Delving into the small-cap rally that has been on, LPL Financial Chief Technical Strategist Adam Turnquist said after being stuck in a consolidation phase over the past few months, small-caps have picked up some momentum in recent sessions, with the growth outlook recently improving — underpinned by better-than-feared labor market conditions — and increased visibility into Fed rate cuts, he said.
The strategist noted that the Russell 2,000 Index, or RTY, has rallied off the lower end of its rising price channel. &#8220;Recent strength in the banking space — the RTY's largest sector by weighting — has further supported small caps,&#8221; he said.
Technically, a close above 2,275 would confirm a breakout from its current symmetrical triangle and leave&nbsp;the 2021 highs (2,243)&nbsp;as the next resistance hurdle to clear, Turnquist said, adding that momentum indicators have also recently turned bullish, adding to the evidence of a topside breakout.
&#8220;Despite the improving absolute performance, the RTY vs. S&amp;P 500 ratio chart still remains in a downtrend and below its declining 200-day moving average (DMA),&#8221; he said. A close above the July highs would validate a trend reversal in favor of small caps outperforming, he added.
Meanwhile, a fund manager thinks AI-levered companies could be defensive plays. Louis Navellier said, &#8220;Semiconductor demand has become the new proxy for global growth trends, being incorporated into almost everything, and also has geopolitical implications with technology export controls in place and China continuing to saber rattle about taking Taiwan back.&#8221;
&#8220;The upshot here is the inference that AI will still have legs even if we slide into a global recession in &#8217;25,&#8221; he added.
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>The Labor Department is scheduled to release the weekly jobless claim report at 8:30 a.m. EDT. Economists, on average, expect the number of individuals claiming unemployment insurance to come in at 260,000 in the week ended Oct. 12, up from 258,000 in the previous week.</li>
<li>The Commerce Department will release its September retail sales report at 8:30 a.m. EDT. The consensus estimates call for a 0.3% month-over-month increase in headline retail sales and a more modest 0.1% rise in retail sales, excluding the volatile auto sales. This compares to 0.1% increases for both in August.</li>
<li>The Philadelphia Fed is due to release the results of its manufacturing survey at 8:30 a.m. EDT. The diffusion index of business activity is expected to rise from 1.7 in September to 3 in October.</li>
<li>The Federal Reserve will release its industrial production report for September at 9:15 a.m. EDT. The consensus estimate models a 0.2% month-over-month decline in industrial output compared to 0.8% growth in August. </li>
<li>The Commerce Department&#8217;s business inventories report, due at 10 a.m. EDT, is expected to show a 0.3% month-over-month increase in business inventories for August, slightly slower than July&#8217;s 0.4% increase.</li>
<li>The National Association of Home Builders will release its housing market index for October at 10 a.m. EDT. The headline index, which measures confidence among homebuilders, is expected to rise a point from September to 42. A reading below 50 suggests a lack of confidence.</li>
<li>The Energy Information Administration will release its weekly oil inventories report at 11 p.m. EDT.</li>
<li>The Treasury is scheduled to auction four- and eight-week bills at 11:30 a.m. EDT.</li>
</ul>
Stocks In Focus:
<ul>
<li>Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) climbed nearly 5% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following the aluminum maker&#8217;s quarterly results, and TSMC surged up over 8% on a beat-and-raise quarter.</li>
<li>Other stocks moving on earnings are CSX Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSX#NASDAQ">CSX</a>) (down about 5%) Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) (down nearly 6%), and Steel Dynamics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) (up over 3%).</li>
<li>Blackstone Inc. (BX), Marsh &amp; McLennan Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>), Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>), KeyCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KEY#NYSE">KEY</a>), and M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) are among the noteworthy <a href="https://www.benzinga.com/calendars/earnings">companies reporting ahead of the market opening.</a></li>
<li>Those reporting after the close include Netflix, Intuitive Surgical, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>), WD-40 Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDFC#NASDAQ">WDFC</a>), and Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>).</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) climbed over 7.7% on the news that Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) might be interested in buying the company.</li>
<li>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) plunged over 15% on a common stock offering.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures are reversing course and were up modestly after their recent pullback and gold futures traded at a record. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped over 1% over the past 24 hours and was at a sub-$67K level.
The 10-year U.S. Treasury note yield was little changed at 4.036%.
The Asian markets ended mixed on Wednesday, as the Japanese, Chinese, Hong Kong, Indian, and South Korean markets retreated. Most other markets ended on a firm note, tracking higher energy prices and the positive close on Wall Street overnight.
European stocks traded in the green in the early hours, thanks to earnings optimism.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41375637/market-very-convinced-of-a-trump-win-says-stanley-druckenmiller-why-billionaire-inv">Market &#8216;Very Convinced&#8217; Of A Trump Win, Says Stanley Druckenmiller: Why Billionaire Investor Thinks Blue Sweep Is &#8216;Highly Unlikely&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

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Wall Street Poised To Open Higher As TSMC Earnings Expected To Kick Off Rally In Tech Stocks: Strategist Says AI Trade Will Have Legs Even In Case Of Recession In 2025

Nokia&#39;s full year 2024 outlook is unchanged. Nokia currently expects comparable operating profit of between EUR 2.3 billion and 2.9 billion and free cash flow conversion from comparable operating profit of between 30% and 60%.

Nokia's 2024 Outlook Unchanged: Sees Comparable Operating Profit Of EUR 2.3B-EUR 2.9B And Free Cash Flow Conversion From Comparable Operating Profit Of 30%-60%

Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) reported quarterly earnings of $0.07 per share which missed the analyst consensus estimate of $0.08 by 18.75 percent. This is a 20.37 percent increase over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $4.755 billion which missed the analyst consensus estimate of $5.344 billion by 11.02 percent. This is a 12.31 percent decrease over sales of $5.423 billion the same period last year.

Earnings Misses

Nokia Q3 2024 Adj. EPS $0.07 Misses $0.08 Estimate, Sales $4.755B Miss $5.344B Estimate

Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) shares are trading higher by 1.25% to $4.46 Wednesday afternoon, ahead of the company&#8217;s <a href="https://www.benzinga.com/insights/earnings/24/10/41359054/nokia-earnings-preview">third-quarter earnings report</a>, confirmed for Thursday&#8217;s pre-market session.
Additionally, per Reuters, Nokia is in exclusive negotiations with Bharti Airtel, one of India&#8217;s largest telecom companies, for a multi-billion-dollar 5G contract. 
This suggests a promising opportunity that could significantly boost Nokia&#8217;s revenue and market position in the 5G sector. However, the situation is complicated in that Airtel is also in discussions with Samsung for 5G equipment, Reuters reports.
Why This Matters: The fact that Airtel is exploring options with another major vendor like Samsung introduces uncertainty. Investors might see this as a potential risk, where Nokia could either secure a major deal or lose part of it to a competitor. If Samsung captures a substantial portion of the contract or if negotiations with Nokia fall through, it could negatively impact investor confidence.
Additionally, 5G contracts are seen as key drivers for telecom equipment providers like Nokia, given the global push for next-generation networks. This means that news related to such contracts, especially involving large telecom operators in growing markets like India, is closely monitored.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41364779/tech-stocks-stall-small-caps-surge-as-regional-banks-rally-airlines-rocket-whats-driving-markets-we">Tech Stocks Stall, Small Caps Surge As Regional Banks Rally, Airlines Rocket: What&#8217;s Driving Markets Wednesday?</a>
<h2 class="wp-block-heading">How To Buy NOK Stock</h2>
By now you're likely curious about how to participate in the market for Nokia &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Nokia, which is trading at $4.43 as of publishing time, $100 would buy you 22.57 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, NOK has a 52-week high of $4.52 and a 52-week low of $2.94.

What's Going On With Nokia Stock?

Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-17. Here's what investors need to know before the announcement.
Analysts estimate that Nokia will report an earnings per share (EPS) of $0.08. 
Investors in Nokia are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Earnings History Snapshot</h3>
Last quarter the company beat EPS by $0.01, which was followed by a 0.83% increase in the share price the next day.
Here's a look at Nokia's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.050</td>
<td>0.06</td>
<td>0.15</td>
<td>0.090</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.065</td>
<td>0.10</td>
<td>0.11</td>
<td>0.054</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.0%</td>
<td>1.0%</td>
<td>-0.0%</td>
<td>-2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729090857_0.png" alt="eps graph" />
<h3>Performance of Nokia Shares</h3>
Shares of Nokia were trading at $4.41 as of October 15. Over the last 52-week period, shares are up 39.25%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analysts' Take on Nokia</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Nokia.
Nokia has received a total of 1 ratings from analysts, with the consensus rating as Outperform. With an average one-year price target of $6.5, the consensus suggests a potential 47.39% upside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
In this comparison, we explore the analyst ratings and average 1-year price targets of Juniper Networks, F5 and Ciena, three prominent industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>The prevailing sentiment among analysts is an Neutral trajectory for Juniper Networks, with an average 1-year price target of $40.0, implying a potential 807.03% upside.</li>
<li>The consensus outlook from analysts is an Neutral trajectory for F5, with an average 1-year price target of $211.0, indicating a potential 4684.58% upside.</li>
<li>Analysts currently favor an Neutral trajectory for Ciena, with an average 1-year price target of $63.79, suggesting a potential 1346.49% upside.</li>
</ul>
<h3>Summary of Peers Analysis</h3>
In the peer analysis summary, key metrics for Juniper Networks, F5 and Ciena are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ubiquiti</td>
<td>Buy</td>
<td>3.33%</td>
<td>$204.14M</td>
<td>171.67%</td>
</tr>
<tr>
<td>Juniper Networks</td>
<td>Neutral</td>
<td>-16.82%</td>
<td>$688.50M</td>
<td>0.76%</td>
</tr>
<tr>
<td>F5</td>
<td>Neutral</td>
<td>-1.02%</td>
<td>$559.07M</td>
<td>4.85%</td>
</tr>
<tr>
<td>Ciena</td>
<td>Neutral</td>
<td>-11.76%</td>
<td>$403.94M</td>
<td>0.49%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Nokia ranks at the bottom for Revenue Growth among its peers. It is in the middle for Gross Profit. For Return on Equity, Nokia is at the top among its peers.
<h3>Delving into Nokia's Background</h3>
Nokia provides telecom equipment and services that are used to build wireless and fixed-line networks. It operates in four segments. The mobile networks segment, which sells equipment and services to telecom carriers to power public wireless networks, is the largest, followed closely by network infrastructure. Network infrastructure focuses on fixed networks, including infrastructure, solutions, and components for IP networks, optical networks, and submarine networks. Cloud and network services is a nascent segment catering to enterprises with as-a-service platforms. Nokia also has a sizable research division and patent business, where it licenses technology used by handset providers, consumer electronics firms, and other firms making electronic and Internet of Things products.
<h3>Financial Milestones: Nokia's Journey</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Decline in Revenue: Over the 3 months period, Nokia faced challenges, resulting in a decline of approximately -17.87% in revenue growth as of 30 June, 2024. This signifies a reduction in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Nokia's net margin is impressive, surpassing industry averages. With a net margin of -3.27%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Nokia's ROE stands out, surpassing industry averages. With an impressive ROE of -0.69%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Nokia's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -0.37% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Nokia's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.22.
<a href="https://www.benzinga.com/quote/NOK/earnings">To track all earnings releases for Nokia visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Nokia Earnings Preview

ERIC

INDA

SSNLF

Nokia In Exclusive Talks With India's Bharti Airtel For Multi-Billion Dollar 5G Contract; Airtel Also In Discussions With Samsung For 5G Equipment Purchase, Sources Say

<a href="https://cenerva.com/fr/5G-news/grupo-ice-picks-nokia-to-deploy-fwa-5g-network-for-racsa-unit/" title="https://cenerva.com/fr/5G-news/grupo-ice-picks-nokia-to-deploy-fwa-5g-network-for-racsa-unit/">https://cenerva.com/fr/5G-news/grupo-ice-picks-nokia-to-deploy-fwa-5g-network-for-racsa-unit/</a>

'Grupo ICE Picks Nokia To Deploy FWA 5G Network For RACSA Unit' - Cenerva

Nokia Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nok#NYSE">NOK</a>) is set to report its third-quarter 2024 results on Oct. 17, before the opening bell. In the last reported quarter, it reported adjusted earnings of 6 cents per share.
The company is expected to witness a revenue contraction year over year, owing to demand softness in several business segments. Intensifying competition, macroeconomic headwinds, and growing geopolitical unrest are major headwinds. However, efforts to bolster the position in the 5G ecosystem with a strong emphasis on innovation and portfolio expansion are positive.
<h2>Factors at Play</h2>
In the third quarter, Nokia secured a multi-year agreement for an undisclosed amount from AT&amp;T Inc. to help modernize the fiber infrastructure of the telecom carrier. Per the five-year deal, Nokia will deploy its Lightspan MF and Altiplano platforms to develop state-of-the-art networks to cater to the growing demand for more capacity and enhanced broadband services. Nokia has also entered into a three-year agreement with Vodafone Idea Limited to enhance and expand its 4G and 5G networks in India.
The company also inked a multi-year 5G RAN (Radio Access Network) contract with MEO, one of Portugal&#39;s leading mobile operators to upgrade its network infrastructure. These are likely to have supported Nokia&#39;s top line during the quarter.
During the quarter, Nokia inked a partnership agreement with Telekom Malaysia to enhance data center connectivity across Malaysia by deploying a cutting-edge Dense Wavelength Division Multiplexing network. A Taiwan-based broadband operator, Homeplus, deployed Nokia&#39;s state-of-the-art PON fiber solution to strengthen network visibility and improve end-user experience.
A prominent Brazilian telecommunication company, TiM Brasil, has leveraged NOK&#39;s industry-leading 5G AirScale portfolio to expand its 5G Radio Access Network coverage across Brazil. These customer wins are expected to have a positive impact on the third-quarter results.
In the quarter under review, Nokia Bell Labs, the research wing of Nokia, inked a year-long, non-binding memorandum of understanding with e&amp; to collaborate on research &amp; development efforts on artificial intelligence-based use cases across various industrial sectors.
However, a slowdown in 5G investment in several regions, including India, intensifying competition is expected to have hindered Nokia&#39;s top-line growth. Growing geopolitical instability remains a major concern.
Our estimate for revenues from the Mobile Networks vertical is pegged at &euro;1.86 billion ($2.04 billion), suggesting a 13.6% year-over-year decline. For the Network Infrastructure segment, our estimate for revenues is pegged at &euro;1.87 billion ($2.05 billion), implying 21.9% year-over-year growth. Revenues from Cloud &amp; Network Services are estimated at &euro;789.3 million ($867.4 million).
For the September Quarter, the Zacks Consensus Estimate for the company&#39;s total revenues is pegged at $5.10 billion, indicating a decrease from $5.42 billion reported in the prior-year quarter. Adjusted earnings per share are pegged at 7 cents, suggesting an increase from the prior-year quarter&#39;s tally of 5 cents.
<h2>Earnings Whispers</h2>
Our proven model does not conclusively predict an earnings beat for Nokia this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. This is not the case here.
Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%, with both pegged at 7 cents.
<div class="chart_embed">
<h3>Nokia Corporation Price and EPS Surprise</h3>
<img alt="Nokia Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/f5/1728479104.png" style="height:302px; width:610px" title="" />
Nokia Corporation price-eps-surprise | Nokia Corporation Quote
</div>
Zacks Rank: Nokia currently has a Zacks Rank #2.
<h2>Stocks to Consider</h2>
Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:
Corning Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glw#NYSE">GLW</a>) is set to release quarterly numbers on Oct. 29. It has an Earnings ESP of +1.16% and carries a Zacks Rank #3.
The Earnings ESP for T-Mobile US, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tmus#NASDAQ">TMUS</a>) is +0.70%, and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Oct. 23.
The Earnings ESP for Qorvo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qrvo#NASDAQ">QRVO</a>) is +0.16%, and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Nov. 06.
Note: &euro;1 = $1.09893 (period average from July 1, 2024, to Sept. 30, 2024).
<a href="https://www.zacks.com/stock/news/2348377/will-nokia-s-q3-earnings-be-hurt-by-a-top-line-contraction?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2348377">To read this article on Zacks.com click here.</a>

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Will Nokia's Q3 Earnings be Hurt by a Top Line Contraction?

Ciena Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cien#NYSE">CIEN</a>) can be considered a legacy company in the computer and technology sector when it comes to the Internet. It was one of the original manufacturers of optical fiber, which provided networking switches and connectivity solutions since 1992. The company has managed to stay relevant, unlike so many internet boom companies, and remains on the cutting edge of the artificial intelligence (AI) revolution. Ciena is essential to the AI boom as it provides one of the crucial elements required&nbsp;for&nbsp;AI deployment: high bandwidth&nbsp;and low latency connectivity.
Ciena operates in the computer and technology sector, competing with networking companies like Cisco Systems Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>), Juniper Networks Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnpr#NYSE">JNPR</a>), which was acquired by Hewlett Packard Enterprises Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hpe#NYSE">HPE</a>), and Infinera Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/infn#NASDAQ">INFN</a>) which is being acquired by Nokia Oyj (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nok#NYSE">NOK</a>).
<h2>How Ciena Is Essential to the AI Revolution </h2>
Ciena is a leader in the optical networking segment, as its products enable long-distance, high-capacity data transmission solutions for the backbones of numerous networks. Data transmission volumes will only grow, driven by AI deployment and cloud computing. Its optical transceivers enable low-latency transmission, which is essential for AI applications to relay responsiveness and fast performance. Its Blue Planet AI-powered software-defined network (SDN) enables network operators to program, automate, and manage networks, orchestrate end-to-end services, and scale bandwidth on demand as needed.
<h2>Cloud Providers Lead the Recovery &nbsp;</h2>
Ciena is approaching positive normalization after many volatile years driven by the pandemic shortage and post-pandemic inventory glut. Cloud providers are leading the recovery, building out networks to support cloud and growing AI traffic.&nbsp;Data centers are a big chunk of Ciena&#39;s cloud provider clients. Three of the four major cloud providers are driving demand for Ciena&#39;s 400 ZR, a high-capacity datacenter interconnect (DCI) capable of transmitting 400 GB ethernet over DCI links, targeting a minimum of 80 kilometers.
Ciena&#39;s other client group, service providers, is experiencing a gradual recovery as the inventory glut is digested. Ciena still expects the U.S. to recover fully in a few quarters, while Europe continues to lag due to geopolitical and macroeconomic headwinds.
<h2>Gloomy Headline Numbers Underscore Improving Metrics </h2>
Ciena&#39;s third-quarter of 2024 earnings report was a sign of relief as results underscore the recovery occurring, enabling a turnaround after many negative quarters. The company reported EPS of 35 cents, beating analyst expectations by 6 cents. GAAP net income was $14.2 million, down from $29.7 million last year. Adjusted net income was $50.8 million, which was also lower than the $89.1 million non-GAAP income in the year-ago period. Revenue fell 11.8% YoY to $942.3 million, which was better than expected compared to the consensus estimates of $928.31 million. Ciena reported a strong book-to-bill ratio above 1, indicating stronger demand that it can fulfill.
<h2>Ciena Issues Flat Guidance </h2>
Ciena expects revenues of $1.06 billion to $1.14 billion in the fourth quarter of 2024 versus $1.12 billion in consensus estimates. Adjusted gross margin is expected to be in the low 40% range, and adjusted operating expenses are expected to be around $350 million. Full-year 2024 revenues are estimated at around $4 billion, with a 4% to 8% CAGR long-term. CIEN stock tumbled 7% the following days.
Ciena CEO Gary Smith commented, &quot;We delivered strong results for the fiscal third quarter that reflect growing momentum with cloud providers and continued gradual recovery with service providers. With leading innovation that is well-aligned with our customers&#39; focus on building cloud and AI-capable infrastructures, we are well-positioned to continue to gain share and deliver profitable growth.&quot;
On Oct. 2, 2024, Ciena announced a $1 billion stock buyback program commencing in fiscal 2025 and ending in fiscal 2027. CIEN stock surged 7% on the announcement.
<h2>CIEN Is Forming a Potential ABCD Reversal Pattern </h2>
An ABCD pattern is a harmonic reversal pattern comprised of two higher peaks and one higher low. The pattern resembles a rising lightning bolt. A market structure high (MSL) sell trigger often triggers the reversal.
<img alt="Ciena CIEN stock chart" class="aligncenter" src="https://www.marketbeat.com/logos/articles/med_20241006191744_charta-cien.jpg" style="height:753px; width:915px" />
CIEN stock initially sold off on its earnings report and guidance to a swing low of $50.83, forming the C-point. Shares rallied higher through the B-point pre-earnings peak at $59.42 to continue higher toward an imminent D-point, which could trigger a reversal. The daily anchored VWAP support is rising at $56.78. The daily relative strength index (RSI) is rising to the 75-band. Fibonacci (Fib) pullback support levels are at $62.91, $57.69, $53.76, and $50.83. 
Ciena&#39;s average consensus price target is $61.00, and its highest analyst price target&nbsp;is&nbsp;$68.00.&nbsp;Analysts have given it 10 Buy ratings and three Hold ratings.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/ciena-stock-powers-the-ai-cloud-boomdont-miss-out/">Ciena Stock Powers the AI Cloud Boom&mdash;Don&#39;t Miss Out</a>&quot; first appeared on MarketBeat.

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금요일 오전 (미 동부 시간 기준) 미국 주식 선물 거래가 혼조세를 보이고 있는 가운데 오늘 투자자들의 관심을 끌 수 있는 주식은 다음과 같다:
크라운 크래프(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWS#NASDAQ">CRWS</a>)는 개장 전 4분기 실적을 발표할 예정이다. 크라운 크래프트의 주식은 시간외 거래에서 1% 상승한 5.05달러를 기록했다.
노키아(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>)는 주당 6.65달러로 인피네라(NASDAQ:<a class="items-end ticker-link-wrapper inline-flex" href="https://www.benzinga.com/quote/infn" target="_blank" rel="dofollow noopener" aria-label="Go to Quote Page for INFN">INFN</a>)를 인수할 계획을 발표했다. 인피네라의 주식은 시간외 거래(애프터마켓)에서 18.1% 상승, 6.21달러에 거래되었다. 한편 노키아의 주식은 애프터마켓 거래에서 0.3% 하락한 3.72달러에 거래됐다.
니이키(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>)는 엇갈린 4분기 실적을 발표했다. 이 회사는 4분기 매출이 126억 달러로 전년 대비 2% 감소했다고 보고했다. 총 매출은 스트리트 컨센서스인 129억 1천만 달러를 밑돌았다. 이 회사는 조정된 4분기 주당 순이익을 1.01달러로 보고했는데, 이는 스트리트 추정치인 주당 0.85달러를 뛰어넘는 수치이다. 나이키 주가는 시간외 거래에서 12.4% 하락한 82.52달러를 기록했다.
쿠라 스시 USA(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRUS#NASDAQ">KRUS</a>)는 약한 지침을 발표했다. 쿠라 스시는 3분기 잠정 총 매출이 6,310만 달러로 추정치 6,539만 달러를 기록할 것으로 예상한다고 밝혔다. 이 회사는 FY24 총 매출을 2억 3,500만 달러에서 2억 3,700만 달러로 예상하고 있으며, 이는 시장 기대치인 2억 4,574만 달러보다 높다. 쿠라 스시의 주가는 시간외 거래에서 13.8% 하락한 71.00달러를 기록했다.

인피네라 코퍼레이션(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INFN#NASDAQ">INFN</a>)의 주가는 노키아(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>)가 인피네라를 <a href="https://www.benzinga.com/pressreleases/24/06/g39537276/inside-information-nokia-to-acquire-infinera-to-increase-scale-in-optical-networks-and-accelerate-" target="_blank" rel="noopener">주당 6.65달러</a>에 인수할 것이라고 발표한 후 목요일 시간외 거래에서 급등했다.
상세 내용 (The Details): 두 회사는 노키아가 인피네라를 주당 6.65달러, 기업 가치 23억 달러로 평가하는 거래를 통해 인수하는 최종 계약을 발표했다.
이번 거래는 6월 26일 마감 시점의 인피네라 주가에 28%의 프리미엄이 적용되고, 지난 180일 VWAP(거래량 가중 평균 가격)에는 37%의 프리미엄이 적용된다. <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>의 데이터에 따르면 인피네라의 주가는 연초 대비 10% 이상 상승했으며 목요일 세션을 시가총액 12억 1,400만 달러로 마감했다.
대가의 최소 70%는 현금으로 지급되며 인피네라의 주주는 총 대가의 최대 30%를 노키아 ADS 형태로 받도록 선택할 수 있다. 노키아 이사회는 거래 희석을 상쇄하기 위해 노키아의 자사주 매입 프로그램을 늘리고 가속화하기로 약속했다.
양사는 이번 거래로 마감 후 첫 해에 노키아의 주당 순이익이 증가하고 2027년까지 10% 이상의 주당 순이익이 증가할 것으로 예상된다고 밝혔다.
관련 뉴스: <a href="https://kr.benzinga.com/news/%eb%a6%ac%eb%b0%94%ec%9d%b4%ec%8a%a4-%eb%b6%80%ec%a7%84%ed%95%9c-2%eb%b6%84%ea%b8%b0-%eb%a7%a4%ec%b6%9c%ea%b3%bc-%ec%95%bd%ed%95%9c-%ec%a0%84%eb%a7%9d%ec%9c%bc%eb%a1%9c-%ec%a3%bc%ea%b0%80-%ea%b8%89/" target="_blank" rel="noopener">혼합된 2분기 결과로 리바이스 주가 급락, 약한 지침: 세부 사항</a>
INFN, NOK 주가 움직임: <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>에 따르면 인피네라의 주가는 목요일 시간외 거래에서 18.82% 상승한 6.25달러에 거래되었고, 노키아 주가는 1.07% 하락한 3.69달러에 거래되었다.
이미지: 셔터스톡

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