Nokia and QUALCOMM Learn About Disappointment (NOK, QCOM)

Posted in pre-market 
April 22nd, 2010

Nokia Corporation (NYSE: NOK) and QUALCOMM Inc. (NASDAQ: QCOM) are both getting shelled after earnings reports were deemed as disappointments.  The Finns are getting shelled harder this morning.

Nokia Corporation (NYSE: NOK) is seeing its margins under pressure after its earnings report.  The company said that its forecast the global handset market was intact and that it planned to increase global market share to 33% from its previously forecast 32%.  Unfortunately it missed expectations.  Shares are down almost 14% at $12.88 on well over 6 million shares at 8:36 AM EST.  The 52-week range is $12.10 tyo $16.58 and average volume is almost 24 million shares.

QUALCOMM Inc. (NASDAQ: QCOM) is seeing another post-earnings drop despite beating estimates.  Earnings were $0.59 EPS on an 8% revenue gain to $2.66 billion vs. Thomson Reuters estimates of $0.57 EPS and $2.63 billion in revenues.  The stock was down 7% last night and this is beginning to look like a QUALCOMM Groundhog Day scenario… Shares are trading down almost 7% at $39.67 on over 1.6 million shares as f 8:36 AM EST.  The 52-week trading range is $35.46 to $49.80 and the average volume is $29.2 million shares.

JON OGG

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