Nokia (NYSE:NOK)-Siemens ready to combine MEA operations to form one new regional organization
Nokia Siemens Networks (NSN), a joint venture of Nokia Corporation (NYSE:NOK) and Siemens AG (NYSE: SI), has merged its operations in the Middle East and Africa to form one new regional organization. NSN has appointed Igor Leprince to perform the leading role.
With this change, Nokia Siemens Networks seeks expansion in its Asia and Middle East regional cluster to include business in Africa. The new Asia, Middle East & Africa cluster (AMEA) will keeping an eye on the company’s customer operations in MEA, India, Asia Pacific, Greater China and Japan.
NSN said that the change will help the company strengthen its services to large multi-country operators such as Bharti Airtel, Etisalat, Qtel, Saudi Telecom Company (STC), Vodacom and Zain in a more integrated manner both within the MEA region and across AMEA operations.
Before this, Leprince was head of the company’s operations in the Middle East until 31 December 2012. He has been given the leading role of the new MEA grouping from 1 January 2013.
Make an opinion on the latest price movement of Nokia (NOK) using some technical indicators
The NOK stock closed at $4.11, up0.16 points or 4.05% from previous close and at a distance of +6.19% from 20-day simple moving average. In the last trading session, the stock’s pricemoved35.01% above its 200 day moving average, changing hands as low as $4.06 per share. The stock is currently trading 25.61% up its SMA 50.
How well the stock has been performing?
The percentage change in the price over the past fifty two weeks remained at -24.03%. The price range in the same period had a highest hit of $5.87 on Feb 24, 2012 while lowest level during that period was $1.63 on Jul 18, 2012.The 1-year target price estimate, which is the median price target, as set by analysts covering the stock is $2.36. The stock in last 12 months lost-7.01% and has advanced4.05% since the beginning of this year.
Does stock market trend influences this stock?
This stock is more risky when compared to the shifts in the equity markets as its beta value is standing at 1.55. To measure price-variation, we found this stock’s volatility over a week period was 3.75% and for the month was 4.13%.
What is Wall Street analysts’ recommendation on this stock?
The analyst mean recommendation for this week has been 3.6, same as was in the last week. The price target of $1.50 was the lowest while the highest price target was set as $6.00, according to 16 analysts surveyed by Thomson Reuters.