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12 Mins Ago
Nokia shares down 2% on job cut news
Shares of Nokia were down 2% at market open after the Finnish telecom company announced it would be axing up to 14,000 jobs as part of a cost reduction plan.
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Nokia share price.
A dip in third-quarter earnings prompted the move as Nokia tried to increase operation efficiency in the “challenging market environment.”
— Hannah Ward-Glenton
6 Hours Ago
CNBC Pro: ESG is ‘as crowded as ever,’ AllianceBernstein says, naming ‘high conviction’ stock ideas to play it
ESG is “as crowded as ever,” according to AllianceBernstein, which revealed “high conviction” stock ideas to play it.
In an Oct. 17 note, analysts at the global asset management firm pointed out that crowding is a “risk factor that is frequently mispriced because it is not easily observed.” They added that crowded stocks are those made based on the consensus trades expected to have high returns and near-term stability.
The extent of the crowding varies by region, the analysts wrote, naming stocks on their radar right now.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
6 Hours Ago
CNBC Pro: Piper Sandler names its ‘highest conviction’ large-cap stock to own into the year-end
Piper Sandler named its “highest conviction” large-cap stock to own into the year-end, giving the stock roughly 20% potential upside from Monday’s close.
“[There’s] multiple upside levers to revenue and EPS growth over the next 3-5 years,” its analysts said.
CNBC Pro subscribers can read more here.
— Weizhen Tan
3 Hours Ago
European markets: Here are the opening calls
European markets are expected to open lower Thursday.
The U.K.’s FTSE 100 index is expected to open 23 points lower at 7,562, Germany’s DAX down 77 points at 15,022, France’s CAC down 39 points at 6,926 and Italy’s FTSE MIB down 148 points at 27,950, according to data from IG.
Earnings are set to come from Roche, Nokia, Man Group, L’Oreal, Vivendi and Renault.
— Holly Ellyatt
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