Nokia shares have dropped to the lowest level in 16 years after Scoiete Generale analyst Andy Perkins cut his rating on the stock to Sell from Hold. He writes in a research note that the company’s handset business could be on a similar trajectory to that of Motorola Mobility, and that operating losses and restructuring costs threaten to wipe out most of the company’s cash, and could “bring into question Nokia’s very survival.”
Nokia: Doomed? Analyst Warns Survival Is Questionable; Shrs Fall
Monday, May 14th 2012
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