Nokia upgraded to "Buy 2" at UBS on revenue hopes
LONDON (CBS.MW) -- Mobile phone handset maker Nokia (NOK: news, chart, profile) on Friday was upgraded by UBS to "Buy 2" from "Neutral 2." The broker said there is increased investor confidence that Nokia can produce mid-single digit revenue growth over the next several quarters. "We believe there is a good chance of this occurring over the next six months given expected strong industry growth in conjunction with the anticipated launch of several new mobile devices that should improve the company's competitive position in the critical Western European market," UBS said. Shares were off 0.9 percent in Helsinki, hit by weakness overnight in U.S. stocks
Euro weakens vs. U.S. dollar after French GDP
LONDON (CBS.MW) -- The euro on Friday fell vs. the U.S. dollar, at $1.2640 for a decline of 0.9 percent, as the statistics agency INSEE said French fourth quarter GDP growth rose 0.5 percent from the third quarter, a result unchanged from provisional estimates.
DaimlerChrysler estimates trimmed by analysts By Steve Goldstein
LONDON (CBS.MW) -- Brokers on Friday sounded a slightly downbeat note on German-American auto giant DaimlerChrysler (DCX: news, chart, profile) (DE:710000: news, chart, profile) following the release of detailed 2003 results. "With little prospect of earnings momentum and with a longer term currency challenge to face, it is hard to see how the stock can make significant further progress at its current valuation," said Goldman Sachs, which kept its rating at in-line. JPMorgan trimmed its 2004 operating profits forecast by 5 percent to 5.8 billion euros, saying that the company guidance for 2004 was not resounding. Morgan Stanley -- which noted that Chrysler's fourth-quarter operating margin was the highest in Detroit -- nonetheless cut its 2004 EPS forecast by 20 eurocents to reflect higher pension expenses and larger losses at Mitsubishi Motors
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