NOK & ALU: the China slowdown warning and some random thoughts:

1.- NOK is making sure it lowers expectations to easily beat down the road.  The slowdown in China is real, as we know, it gives Rajeev an open door to do so now with ease and plenty of excuses .  The share price has already been beaten down so it is a no-brainer, IMO.

2.- As I complained right after the announcement last April that NOK would acquire ALU: NOK did indeed get a hell of a bargain, they bought it on the cheap.  ALU’s earnings on both  top and bottom lines attest to this fact, the shift plan performed by the previous administration is progressing well.  It does however, give NOK plenty of leverage in the future.

3.-It is a shame that NOK has only gotten 91% of the ALU shares converted, I would venture a guess that the fund that owned ~5% may be a hold out, just a guess.  This, IMO is due to point two above.

4.- Glad to see that the pre-market is boosting NOK shares. That said, no positive surprise has gone unpunished in this market, I am afraid this pop will also prove temporary.  The market seems intent in going down more.  I am guessing the S&P may not stop dropping until it falls below 1700