Home / Features / Nokia Corporation (NYSE:NOK) Comeback Has Confirmed Its Presence at MWC 2017- PennantPark Investment (NASDAQ:PNNT)

Nokia Corporation (NYSE:NOK) Comeback Has Confirmed Its Presence at MWC 2017- PennantPark Investment (NASDAQ:PNNT)

Nokia Corporation (NYSE:NOK) [Trend Analysis] retains strong position in active trade, as shares scoring 0.24% to $4.17 in a active trade session, while looking at the shares volume, about 6.05 Million shares have changed hands in this session. The firm behind Nokia’s (NOK) comeback has confirmed its presence at MWC 2017, tipping that the Finland-based firm may finally launch smartphones at the event. Back in May, Nokia had reported that it will grant HMD Global, a Finland-based firm, the exclusive global licence to create Nokia-branded mobile phones and tablets for the next 10 years.

The news goes in-line with a recent report that claimed that Nokia has planned its comeback for next year. In a presentation slide reportedly showed at the firm’s Capital Markets Day 2016 event, the firm pointed that it will make a return to smartphones putting all doubts to rest. The firm has institutional ownership of 5.40%. NOK attains analyst recommendation of 2.40 with week’s performance of -3.25%. Investors looking additional ahead will note that the Price to next year’s EPS is 34.52%.

PennantPark Investment Corporation (NASDAQ:PNNT) [Trend Analysis] knocking active thrust in leading trading session, shares a loss of -0.26% to 7.69 with about 269548 shares have changed hands in this session. PennantPark Investment Corporation (NASDAQ:PNNT) reported that financial results for the fourth quarter and fiscal year ended September 30, 2016, an adjustment to its quarterly distribution for 2017 and extension of the before reported fee waiver.

Arthur H. Penn, CEO stated, “Given the continued weakness in energy and overall yield compression in the market, we have concluded, in consultation with our board of directors, that it is prudent to pay our $0.28 per share distribution for the December 2016 quarter, and then reduce the distribution to $0.18 per share for the March 2017 quarter.

“This is the first distribution reduction in our about 10 year history and it should allow us to return to the environment where we expect to meet or exceed our distribution with net investment income. In addition, we have concluded, in consultation with our board of directors, to extend our 16% waiver of base and incentive fees through December 31, 2017 as the energy investments need more time to maximize recoveries. Going forward, we intend to focus on lower risk, primarily secured investments, thereby reducing the volatility of our earnings stream.” The stock is going forward its fifty-two week low with 87.43% and lagging behind from its 52-week high price with -3.86%.

Same, the positive performance for the quarter recorded as 3.23% and for the year was 32.60%, while the YTD performance remained at 41.02%. PNNT has Average True Range for 14 days of 0.16.

 

About Richard Avery

He is a capital projects manager and process design engineer at a large-cap company. He has renowned MBA degree. Before joining SWR, he was a freelance writer for renounce tech websites. He is currently studying for CFP exam. Interests: Tech stocks, Economic Markets, Blue-chips.

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