I believe it was due to the result of the  Patent arbitration with Samsung.  There were a few analysts that expected a few hundred million more than the $800M awarded.  BofA was at $987M, some other outfit at $1.2B, the mean expectation was at $900M.  

lt cap,

Thanks - yes, I do remember the disappointment on the numbers on the Samsung issues. But NOK loses perhaps couple hundred million and gets soundly trashed while BP is paying out ~18 billion and it doesn't die? Maybe just an issue of equal proportions, or whatever.

This is not news: CIEN losing 5% today because.....after InPhi made its announcement the analysts who came out to defend CIEN noted that it cut both ways, it will hurt their business in some ways, but making DCI equipment that was going to grow and was compatible would offset that. The defenders of INFN said yeah, that's a not-insignificant crunch to earnings, but overall their growth prospects are positive in the long run. I can understand why INFN is skittish until we get some clue as to how it will affect them, according to Fallon. And CIEN's decline might be some skittishness because their last two CC's were disappointing. So it really doesn't make logical sense unless...just as INFN got trashed and dropped in the 13's most likely because the InPhi development was known to some beforehand, these stocks are trading like there's doom ahead, rather than the 10%+ growth rates that keep getting verbally re-confirmed.

It leans me away from playing options at the moment - the potential gain isn't worth the risk. It does have me thinking of adding realtively small chunks of NOK - but I'm starting to feel overweight in a negative-so-far position, and the stock itself isn't showing any kind of a bottom here. I *think* there's a bounce in here somewhere, but where it is I have no clue. In part, because I see no negative news that corrolates with these movements. NOK's losing ground because of massive job cuts maybe? Is not that supposed to be part of their synergy savings strategy?

Agree, NOK is certainly trading as if more bad news is coming.  Still cannot find anything.  The market will not give it the time of day; it will do so when solid positive news are delivered.

The company is some 30 cents above the price it closed at on 9/2/2013 the day after the announcement that MSFT was buying the handset division for some $7B. Today the company has larger revenues, it just bought ALU which gives it a much more diversified product portfolio, expands it global foot print, and still has a ton of cash.  But no matter, the market does not care.

bbc.com/ne...940171

And NOK up over 4.5% today... on no news? Seems like every time it gets around $6 lately it gets promptly battered down again. I bought some yesterday at $5.77 and sold today at $6.01, and will attempt to lower my previous $6.30's cost basis (before today) if it goes down again to that range.

Funny how there's market talk today of "hopes for more stimulus", since yesterday was a big down day. And Yellen sees no bubble, which of course leaves the door open for more insanity. Does anyone actually believe she would ever see a bubble, or admit to seeing one if she did?

Maybe she lives inside a bubble?  When you are a hammer ...

Re NOK, it has been beaten down to this level on reverse insanity, IMO.  I have modestly accumulated additional shares in the sub 6 level, plan to continue adding at those levels, I do plan to hold these until the 7s at least. 

I remain unconcerned about the short to mid-term moves in NOK.  I continue to firmly believe there is unlocked value.  Sorry to be so repetitive, but that is how I see it.

From a chart point of view, yesterday it set a 52 week low, however, the important thing is that it held the low it set back on August 24th last year, so, today’s bounce on heavy volume is encouraging.  Hopefully this technical bounce has real follow through, if not, it will be back in the sub 6 level again soon.

NOK got upgraded to Buy by some Nordic financial services group.

"Coupled with the upcoming cash return - a EUR 0.25 DPS in June, the start of a buyback programme equivalent to another EUR 0.25 per share and still excess cash - we find the valuation too attractive to ignore despite the challenging market conditions and cuts to consensus," analysts said.

thestreet.com/st...s.html

Glad to see others bringing some sense re NOK's current valuation situation.