For Immediate Release
Chicago, IL – November 28, 2011 – Zacks.com announces the list
of stocks featured in the Analyst Blog. Every day the Zacks Equity
Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the
blog include Nokia Corp. (NOK),
Siemens AG (SI), LM Ericsson AB
(ERIC), Motorola Solutions Inc. (MSI) and
Walgreen Co. (WAG).
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Here are highlights from Friday’s Analyst
Blog:
Major Restructuring for
Nokia-Siemens
Nokia Siemens Networks (NSN), a 50-50 joint venture between
Nokia Corp. (NOK) and Siemens AG
(SI) to provide telecom network infrastructure solutions, has
recently declared its major restructuring initiatives. As a part of
the restructuring process, the venture company will reduce its
headcount by 17,000 throughout the world, which will be
approximately 23% of its global work force. From now, NSN will
concentrate primarily on wireless broadband networks, customer
experience management and professional services, and will divest
from its non-core businesses.
The complete exercise is designed to reconstruct the business
structure of the joint venture so that it can opt for an IPO. Both
Nokia and Siemens are now eager to come out of this venture and
concentrate more on their core businesses. However, several
industry researchers believe an NSN IPO can take place only after
properly revamping the struggling telecom infrastructure solutions
provider, which will take quite some time.
Despite being the second largest company in this field after
LM Ericsson AB (ERIC), NSN always remain in sticky
wicket once it was formed in 2007. The company is still not able to
reach profitability. Management expects its proposed restructuring
to result in an annual cost reduction of approximately $1.35
billion by 2013. Importantly, the joint venture between Nokia and
Siemens will come to an end in 2013.
In July 2011, NSN abandoned its equity disinvestment plan. Two
major U.S. private equity groups, Kohlberg Kravis Roberts and TPG,
have backed out from their bidding for a significant stake in NSN.
The departure of these two private equity groups primarily resulted
from the disagreement between the firms and NSN over price and
controlling stake in the venture. Meanwhile, both Nokia and Siemens
have agreed to inject approximately $675 million each to complete
the venture’s restructuring.
In April 2011, NSN completed the long-awaited acquisition of
network gear businesses of Motorola Solutions Inc.
(MSI) for $975 million. This acquisition was aimed to solidify the
company’s fragile foothold in the lucrative CDMA markets of North
America, which remains the major drawback of the venture. However,
NSN is yet to win any significant contract in this region.
Recently, massive competitive threats from low-cost Chinese
network infrastructure vendors have become a matter of concern for
NSN. Huawei and ZTE are fighting neck and neck with NSN to capture
the global market share. As a result, the company became
marginalized in the battle field due to the introduction of more
efficient and price effective equipments from Ericsson, Huawei, and
ZTE.
New Service Offering from
Walgreen’s
More than 3,000 stores of Walgreen Co.
(WAG) across the US, recently commenced same-day pick up service
for the company’s popular photo gifts. These products include
classic photo books, calendars, folded cards, holiday cards and
other personalized items. With online photo sites forcing buyers to
wait for a week to get custom photo gifts delivered, Walgreen’s
expects this new service to be accretive in terms of time
saving.
Walgreen’s new photo technology and printing systems produce
high-resolution, high-color prints at high speeds, thus allowing
photo technicians to develop photo gifts within an hour. Based on
the August 2010 study by InfoTrends, Inc., photo gifts sales are
expected to grow nearly 20% through 2014.
Headquartered outside Chicago, Illinois, Walgreen Co. is the
largest national retail pharmacy chain in terms of revenue and
profitability. The company’s strategy of store expansion coupled
with operating acumen and fiscal conservatism has made the company
a leader in the retail drug store industry. The company’s store
base has increased consistently with the primary focus on building
new stores in high-traffic locations rather than acquiring.
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ERICSSON LM ADR (ERIC): Free Stock Analysis Report
MOTOROLA SOLUTN (MSI): Free Stock Analysis Report
NOKIA CP-ADR A (NOK): Free Stock Analysis Report
SIEMENS AG-ADR (SI): Free Stock Analysis Report
WALGREEN CO (WAG): Free Stock Analysis Report
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