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Stocks Alert: Nokia Corporation (ADR) (NYSE:NOK), Bristol-Myers Squibb Co (NYSE:BMY), IMAX Corporation (USA) (NYSE:IMAX)

Stocks Alert: Nokia Corporation (ADR) (NYSE:NOK), Bristol-Myers Squibb Co (NYSE:BMY), IMAX Corporation (USA) (NYSE:IMAX)
Written by
Chris Sandburg
Published on
November 14, 2014
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Nokia Corporation (ADR) (NYSE:NOK) issued long-term targets and financial guidance for FY 2015 at its capital markets day Friday, including a forecast for faster sales than the market and a higher operating margin range. In its statement, the company said: It expects to grow Nokia Networks' net sales slightly faster than the market over the long-term. Nokia Corporation (ADR) (NYSE:NOK) now forecasts Nokia Networks' long-term non-IFRS operating margin range to be 8% to 11%. This compares to Nokia's previous target for Nokia Networks' long-term non-IFRS operating margin range to be 5% to 10%.Nokia is targeting to record tax expenses in Nokia Group's Consolidated Income Statements at a long-term effective tax rate of approximately 25%. However, Nokia targets Nokia Group's cash tax obligations to continue at approximately EUR 250 million annually until Nokia Group's deferred tax assets have been fully utilized. The cash tax amount may vary depending on profit levels in different jurisdictions and the amount of license income potentially subject to withholding tax.For its 2015 business outlook: Nokia said it expects Nokia Networks' net sales to grow on a year-on-year basis for the full year 2015. It expects Nokia Networks' non-IFRS operating margin for the full year 2015 to be in-line with Nokia Networks' new long-term non-IFRS operating margin range of 8% to 11%. Separately, Nokia said it expects HERE's net sales to grow on a year-on-year basis for the full year 2015. The company expects HERE's non-IFRS operating margin for the full year 2015 to be between 5% and 10%. Nokia anticipates Nokia Technologies' net sales to grow on a year-on-year basis for the full year 2015, excluding potential amounts related to the expected resolution of the arbitration with Samsung.Bristol-Myers Squibb Co (NYSE:BMY) is building a 30,000-square meter manufacturing facility in Cruiserath, County Dublin, Ireland that will provide multiple therapies for its biologics portfolio. The drug developer said that total investment in this new facility, which will house six 15,000-liter bioreactors, a purification area, and office and laboratory space, is comparable to the approximately $900 million it spent on its Devens, Massachusetts facility. The board has approved initial funding that will support the first phase of the project. Bristol-Myers Squibb Co (NYSE:BMY) trades near the top of its 52-week range $46.30 - $59.17.Entertainment technology company IMAX Corporation (USA) (NYSE:IMAX) and Japan's Toho Cinemas have teamed up to bring to Shinjuku the first IMAX theater in downtown Tokyo. Toho Cinemas, a division of Japanese film producer Toho Co., is developing a commercial multiplex, featuring a hotel, restaurants, and retailers. IMAX Corporation (USA) (NYSE:IMAX) will serve as the multiplex's anchor entertainment attraction.

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