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 sven.grundberg@dowjones.com

Stock News for Microsoft (MSFT)
DateTimeHeadline
07/22/201416:21:01MARKET SNAPSHOT: U.S. Stocks End Higher; Herbalife Gain Best...
07/22/201416:15:51MARKET SNAPSHOT: U.S. Stocks Close Up; Herbalife Gain Best Ever
07/22/201411:06:33TECH STOCKS: Apple, Microsoft On The Rise With Earnings On Tap
07/22/201410:49:30MARKET SNAPSHOT: U.S. Stocks Rise; Chipotle Rallies On Results
07/22/201409:53:34MARKET SNAPSHOT: U.S. Stocks Open Higher; CPI In Line With Forecasts
07/22/201409:09:55MARKET SNAPSHOT: U.S. Stocks: Futures Gain On Inflation Data
07/22/201408:12:35MARKET SNAPSHOT: U.S. Stocks: Futures Rise Ahead Of Inflation...
07/21/201411:23:22TECH STOCKS: Netflix, EMC Lead Tech Gainers
07/21/201408:02:45Taiwan Export Orders Point to Stronger Global Demand
07/18/201418:53:57TECH STOCKS: Google Spurs Tech Gains Following Earnings
07/17/201417:40:28MARKET SNAPSHOT: U.S. Stocks Sell Off After Malaysia Airlines...
07/17/201414:10:16MARKET SNAPSHOT: Malaysia Airlines Crash In Ukraine Rocks Stocks
07/17/201412:25:58MARKET SNAPSHOT: U.S. Stocks Slip As Ukraine Worries Weigh
07/17/201411:26:51TECH STOCKS: Microsoft Steals Thunder With Big Job Cuts
07/17/201410:35:00MARKET SNAPSHOT: U.S. Stocks Stabilize; Microsoft Rallies On...
07/17/201410:33:20MARKET SNAPSHOT: U.S. Stocks Fall; Microsoft Rallies On Jobs...
07/17/201409:38:23U.S. Hot Stocks: Hot Stocks to Watch
07/17/201402:12:34Why Big Companies Delay Using the Cloud for Some Applications
07/11/201410:47:50TECH STOCKS: Amazon Rallies; Microsoft, IBM Slip
07/10/201416:28:12TECH STOCKS: Apple, LinkedIn Lead Tech Retreat

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

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad