News Recap: Nokia Corporation (ADR) (NYSE:NOK), Caterpillar Inc. (NYSE:CAT), Autodesk, Inc. (NASDAQ:ADSK)
Lakeway, NY — (Market News Call) — 10/01/2013 — Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Nokia Corporation (ADR)(NYSE:NOK), Caterpillar Inc.(NYSE:CAT), Autodesk, Inc.(NASDAQ:ADSK).
WPCentral reports Nokia Corporation (ADR)(NYSE:NOK) will launch the Lumia 929, a 5″ phone set to replace the Lumia 928 (4.5″ display) in Verizon’s lineup, in November. Meanwhile, The Verge reports Nokia is also working on the Lumia 525, a low-end, music-oriented phone meant to succeed the popular Lumia 520.
The report follows one indicating Microsoft (MSFT) is working on Office Reader, a “Windows 8-style” Office app that supports PDFs, e-bboks, and other document types (could present new competition for ADBE’s Acrobat unit), and plans to roll out add real-time collaborative editing support for the Office Web Apps. Strong collaborative editing support has long been a selling point for Google Apps.
Caterpillar Inc.(NYSE:CAT) says the U.S. mining equipment industry faces more than $500M in potential lost sales if U.S. miners succeed in opposing $650M in government-backed financing for the Roy Hill iron ore project in Australia, FT reports.
Equipment makers, including CAT, support the loan to the $10B mining project in Western Australia, because the resulting orders for trucks and bulldozers would help the struggling industry, but miners, led by Cliffs Natural Resources (CLF), believe the project would hurt U.S. mining interests.CAT suffered a 10% Y/Y drop in global sales in the three months ended in August; rival Joy Global (JOY), another likely supplier to the Roy Hill project, saw a 36% drop in Q3 orders and has sharply cut its revenue forecast for the coming year.
The restructuring involves both job cuts and “the consolidation of certain leased facilities.” Autodesk, Inc.(NASDAQ:ADSK) isn’t disclosing how many jobs will be affected, but does say it expects to record pre-tax charges of $15M-$20M, all of which will result in cash expenditures.
The disclosure comes a month after Autodesk provided soft FQ3 (Oct. quarter) guidance to go with an FQ2 beat. Shares nonetheless rallied afterwards, thanks to enthusiasm over rising cloud/subscription sales (has the effect of pushing out near-term revenue).
Specialpennystockalert.com is engaged in providing the most up to date and useful information on Microcap Stocks poised to breakout. Specialpennystockalert.com also provides investors with trend analysis, detailed company profiles, and most importantly a much needed “informational edge” which can be used as a tool for making investment decisions. To Receive Instant updates in the inbox, readers are advised to sign up for free at Specialpennystockalert.com.
The assembled information disseminated by Specialpennystockalert.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Specialpennystockalert.com does expect that investors will buy and sell securities based on information assembled and presented in phd-trading.com. PLEASE always do your own due diligence, and consult your financial advisor.
Tags: Autodesk, Caterpillar Inc. (NYSE:CAT), Inc. (NASDAQ:ADSK), Nokia Corporation (ADR) (NYSE:NOK)