ADVFN - Advanced Financial Network.
HOME» NASDAQ » M » MSFT Stock Price » MSFT Stock News

Microsoft Share News

 Microsoft (mm) Stock Price
MSFT Stock Price
 Microsoft (mm) Stock Chart
MSFT Stock Chart
 Microsoft (mm) Stock News
MSFT Stock News
 Microsoft (mm) Company Information
MSFT Company Information
 Microsoft (mm) Stock Trades
MSFT Stock Trades

Moody's Cuts Nokia to Junk As Woes Continue

Ailing handset maker Nokia Corp. (NOK) Friday saw its credit downgraded to junk by Moody's Investors Service, which said Nokia is facing more pressure on its earnings and higher cash burn than it had previously thought. The downgrade of Nokia's credit to Ba1 from Baa3 -- Moody's second downgrade of the company within three months -- means Nokia's credit now carries junk status by all the three major credit rating agencies. Nokia's credit was downgraded to junk by Fitch Ratings and Standard & Poor's in April. All the rating agencies have a negative outlook for Nokia's credit. Although Moody's said the massive restructuring effort that Nokia announced on Thursday is both positive and necessary for the struggling company's ambition to return to profitability, it cautioned that if Nokia's revenue doesn't stabilize soon it may need to carry out additional restructuring. Nokia Thursday announced sweeping plans to reshape its handset business, cutting 10,000 jobs, shuttering factories and research facilities as well as replacing several high-ranking executives. The company also warned its loss in the second quarter would be higher than it previously forecast -- its third cut in earnings outlook in a little over a year. The shares plunged 18% as a result. Moody's added that Nokia may have to contribute more funding to its network equipment joint venture with Siemens AG (SI), Nokia Siemens Networks, if NSN's restructuring costs start to exceed its cash flow. In a separate statement on Friday, Fitch Ratings said Nokia's profit warning suggests that the company over the last two months has moved further away from being able to deliver stable revenues and positive operating margins. The ratings agency added that Nokia now is facing a "precarious combination of a depleted cash balance, without an end in sight to the declining cash flows." "If we are not convinced that the company can succeed in delivering [positive operational cash flow], we will take a negative rating action," Fitch said. On a more positive note, Moody's said Nokia's new range of smartphones, running Microsoft Corp.'s (MSFT) Windows operating system, should get a boost by the launch of the next Windows 8 operating system, which is expected this fall. Additionally, Nokia's new line of basic mass market feature phones with full touch-screen functionality should support demand in emerging markets and raise average selling prices for Nokia's phones, Moody's said. At 1226 GMT, shares in Nokia traded 3.5% higher at EUR1.892. Write to Sven Grundberg at

Stock News for Microsoft (MSFT)
11/24/201513:00:02More Proof Microsoft Corporation's Mobile Strategy Is Spot On
11/24/201512:38:033 Reasons to Sell GameStop, 1 Reason to Buy
11/23/201518:00:03Future of Hewlett Packard Still Uncertain After Split
11/23/201515:00:03Microsoft Corporation and Hewlett Packard Enterprise Co. Team...
11/23/201508:00:03Dubai Internet City: 3 Things You Should Know
11/23/201503:02:00Surge In Buybacks Stirs Up Worries -- Abreast Of The Market
11/22/201519:00:03Can Business Users Reverse Tablet Sales Trends?
11/22/201511:22:02Why Are Investors Shunning Oracle Corporation?
11/21/201519:00:03Forget Apps: By 2020, This Technology Will Run Your Smartphone
11/21/201508:00:033 Big Brand Stocks to Buy Before the Holidays
11/20/201512:20:03Battle of Dividend Stocks: Apple, Inc. Versus Microsoft Corporation
11/20/201509:36:00Microsoft Lumia 950 Review: Can a Smartphone Be Your PC?
11/20/201506:00:001,000 Windows 10 deals at just 10 cents, Xbox One at $299 and...
11/20/201502:45:00Volvo, Microsoft to Jointly Develop Automotive Technologies
11/19/201510:27:02These 5 Companies Own $81 Billion Worth of Microsoft Stock
11/19/201510:10:00ValueAct Capital Bolsters Stake in Rolls-Royce
11/19/201509:40:00Microsoft Unveils Collaboration With HP Enterprise
11/19/201509:00:00Hewlett Packard Enterprise and Microsoft deepen collaboration...
11/19/201509:00:00Microsoft Dynamics AX delivers the power of the cloud to businesses
11/19/201507:31:02Here's How Microsoft Plans to Get Business Users to Move to Windows...

Microsoft and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations