This fund run by a SAC Capital alum bought restaurant stocks amid the pandemic
Prentice Capital Management was up 6.6% for the first four months of the year, compared to the S&P 500's 9.3% decline and the Russell 2000's 21.1% decline. The HFRX Equity Hedge Index was down 9.4% for the quarter. Q1 2020 hedge fund letters, conferences and more Gross and net exposures In his first-quarter letter to […]
Nokia Corporation (ADR) (NYSE:NOK) (HEL:NOK1V) (BIT:NOK1V) has just launched its preorders for its Lumia smartphones in China, a key market for Windows 8 phones. Shares of the company’s stock are on a slight increase today, up more than 3 percent. Nokia has been counting on its Lumia handsets to help it regain part of the mobile device market share it has lost in recent years.
Today’s launch of preorders is for Nokia’s Lumia 920, 820, and 620, which are priced between $736 and $318. The Next Web speculates that the wide price differences among the models could make it easier for Nokia Corporation (ADR) (NYSE:NOK) (HEL:NOK1V) (BIT:NOK1V) ) to reach a broader range of customers in different demographic groups. However, it also notes that the $318 price tag for the Lumia 620 handset is significantly larger than the previously expected price of $249. It is possible that an import tariff or tax could be responsible for that price difference. Nonetheless, the Lumia 620 remains the least expensive Windows 8 phone released so far.
Nokia’s Lumia phones will officially land in China and other countries throughout Asia in January. Then it will launch in Europe and the Middle East. China Mobile confirmed in October that it would carry Nokia’s Lumia line of handsets, which are expected to be sold at major retailers throughout China.
In the U.S., Nokia Corporation (ADR) (NYSE:NOK) (HEL:NOK1V) (BIT:NOK1V)’s Lumia handsets are selling fairly well. The Lumia 920 is the fourth most purchased phone right now on the AT&T network in the U.S. The company just announced that it is in the process of expanding the number of carriers that will support its Lumia phones. The handsets are expected to be added to additional carriers starting in January.