So far in 2020, Nokia (NYSE:NOK) stock is up over 15%. Yet that number tells only half the story. On March 18, NOK stock hit a 52-week low of $2.34. Now, it is hovering at $4.3. Put another way, if you were brave enough to invest $1,000 in the shares in late March, your investment would have gove over $1,800.Source: RistoH / Shutterstock.com Many investors are now wondering if they should chase the recent move up in the group. Therefore today, I'll take a closer look at whether Nokia stock should belong in a long-term portfolio.In the coming days, short-term profit-taking will likely push the stock toward or even $4. In case of such a potential price decline, market participants with a 2-3 year time horizon may consider investing in the Finnish technology group in the long run.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Nokia Stock May Become...
(Bloomberg) -- Wirecard’s lenders are considering hiring outside help as they seek to navigate the risk of a potentially massive default, a person familiar with the matter said.At least 15 commercial banks who have lent to Wirecard, led by Commerzbank AG, ABN Amro, LBBW and ING, are in hectic negotiations about the steps to take after the German payments company said yesterday it’s unable to release its annual report because it can’t locate 1.9 billion euros in cash ($2.1 billion), the person said. An announcement of the consortium’s next steps could happen soon, the person said asking not to be identified discussing private information.Wirecard AG has an outstanding revolving credit facility of 1.75 billion euros, according to data compiled by Bloomberg. The German payments company has warned that loans of as much as 2 billion euros could be terminated if its audited annual report isn’t published on Friday.Most of the banks...
The chief executive of German payment service provider Wirecard AG resigned on Friday after the company disclosed that auditors could not find 1.9 billion euros ($2.1 billion) in cash, adding to the accounting woes of a firm once regarded as a star of the growing financial technology sector. Wirecard said in a brief statement that Markus Braun resigned “in mutual consent” with the company’s supervisory board, effective immediately....
The overnight moves came on the heels of a choppy session on Thursday, with the S&P 500 and Nasdaq closing slightly higher and the Dow ticking down....
Tesla Inc. (NASDAQ: TSLA) filed an application with an Austin-area school district in Travis County, Texas earlier this month asking for tax incentives to build a new factory, Bloomberg reported Thursday.What HappenedThe automaker said in the application it has zeroed in on a 2,100 acres site, currently owned by Martin Marietta Materials Inc.Tesla is asking for significant tax incentives for the Texas facility to remain competitive with another site the Palo Alto-based company is considering in Tulsa, Oklahoma. If it goes ahead with the plan to build the factory at the site, Tesla expects to begin construction by the third fiscal quarter this year, investing about $1 billion at the 4-5 million square foot assembly facility. The automaker said in the filing the factory would create 5,000 new jobs.Why It MattersChief Executive Officer Elon Musk in March announced that Tesla was scouting for locations to build a new manufacturing facility for...
After an awful start to 2020, oil is finally showing some spark, which is just what they need over at ExxonMobil (NYSE:XOM). Now sure, Exxon Mobil stock is till down 32% year-to-date, but crude oil prices have recovered from their bizarre run below $0, and hit $40 per barrel recently.Source: Jonathan Weiss / Shutterstock.com Natural gas has firmed up as well. And the Fed's extraordinary liquidity measures have pumped some crucial funds into the credit market, helping struggling energy producers.XOM stock was off more than 50% at one point, but the money is flowing back into the sector now.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI'm a long-term bull on Exxon and it's a sizable position in my portfolio. That said, the recent rally has been rather swift -- don't be surprised if Exxon consolidates here around the $50 range for a while. Here's why. No V-Shaped Recovery for...
