The Market In Brief: Metalico (MEA), Nokia Corporation (NOK), Facebook (FB)

Metalico, Inc. (NYSEMKT:MEA) has announced debt restructuring agreements that effectively give it relief to focus on its core operations. The company also offered an update on its 3Q2014 earnings, saying that the results will be released on November 14. Metalico, Inc. (NYSEMKT:MEA) expects performance improvement in the upcoming report compared to the previous year.

The company earned $0.01 per share in the most recent quarter, pounding the consensus estimate of a loss of $0.01 per share for the quarter. The revenue figure of $142 million was also better than the estimate of $141.86 million.

A streamlined Nokia Corporation (ADR) (NYSE:NOK) is exciting, at least, when looking at the latest quarterly performance update. The Finnish technology company witnessed improvement in its profit figure in 3Q2014. Operating profit margins also improved beyond what analysts had expected.

Nokia Corporation (ADR) (NYSE:NOK) posted operating profit of 457 million euros or $578 million, which was 32% better than the previous quarter. Analysts were looking for a profit of 359 million euros. The profit margins for the quarter came in at 13.5%, up 11% QoQ and also ahead of the estimate of 9.9%.

Nokia Corporation (ADR) (NYSE:NOK) earlier this year sold its hardware arm to Microsoft Corporation (NASDAQ:MSFT) for a consideration of about $7.4 billion. Following the offloading of the handsets business, Nokia remaining lead business is the network unit.

For Facebook Inc (NASDAQ:FB), Chinese market has been a hard nut to crack despite its huge opportunities. For at least five years now, Facebook Inc (NASDAQ:FB) remains blocked in China, but things could change. Facebook’s boss, Mark Zuckerberg appears to be on a charm offensive to break into the Chinese Internet and social network space.

Chinese Internet population is growing very fast with the latest updates putting the number at 618 million. The fact that China is a promising market can be seen in the way Chinese Internet companies have experienced exponential growth in the recent times. A case in point is Alibaba Group Holding Ltd (NYSE:BABA), a Chinese marketplace provider that recently performed a hugely successful IPO in the U.S.

About the Author

Adam is a staff reporter for US Markets Daily Publications & Media, covering foreign affairs and domestic policy.

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