Nokia Corporation Up 15%, Ford Motor To Invest More In China, Netflix In News Again


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NYSE:NOK / NYSE:F
11/21/2012 [ACCESSWIRE]

NEW YORK -- Beststocksdaily, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Nokia Corporation, Ford Motor, Netflix.

The popularity and surging sales of Ford Motor Company(NYSE:F) Focus cars in China has encouraged the company to invest more in its plants in the country.

Ford, along with Mazda and their partner in China have decided to invest about $37.3 million in their engine plant in the country.

Ford, Mazda and Chongqing Changan Automobile Co will increase their investment in the engine plant in Chongqing city according to their shareholdings, which are 25 percent, 25 percent and 50 percent, respectively, the Chinese firm said in a statement on Wednesday. 

The plant produces engines for cars including the Ford J53 and J36 models, Reuters reported quoting an official at Chongqing Changan Automobile.

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In October Ford's vehicle sales in China rose 48 percent from a year earlier compared to the overall industry growth of 5.3 percent.

A territorial dispute between China and Japan has resulted in Chinese consumers shunning Japanese-made cars in favour of that made in the United States. This has benefited companies such as Ford, General Motors and South Korea's Hyundai Motor Co.

Among the Ford cars, the best-selling is the Focus model which was launched in late April.

It has been selling so well that workers at Ford's Chongqing car plant in southwest China have added shifts to keep up with demand, Reuters said quoting Trevor Hale, the firm's Shanghai-based China spokesman.

The engine venture, which also makes engines for Mazda models, will probably shut some old production lines following the latest investment, the official at Chongqing Changan Automobile said, without elaborating, the report added.

Shares in Finnish handset maker Nokia Corporation (ADR)(NYSE:NOK) Oyj rose the most in a month after the company said it received reports that its new Lumia 920 smartphone had sold out in Germany.

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The new Lumias had been launched by Nokia in September this year.

Shares of NOK soared 15% to $3.38.

Nokia is working to make all models available again in Germany after receiving reports that many shops had run out of the Lumia 920, according to a posting on the Espoo, Finland- based company’s Facebook page.

Netflix, Inc.(NASDAQ:NFLX)) founder and chief Reed Hastings has reacted to activist investor Carl Icahn's comments about a hostile takeover of the company by saying, "“We think we can make it in the long term absolutely on our own. We’ve been doing that for 10 years.”

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Icahn who has picked up a 10 percent stake in the video streaming firm said that Netflix should be acquired by a larger company. In an interview to Dow Jones, Hastings dismissed the suggestion.

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