Nokia Makes Major Premarket Gains After Expected Earnings (NOK)

Posted in pre-market 
July 22nd, 2010

Nokia Corporation (NYSE: NOK) is on the rise premarket after its 8:00 AM EST earnings report this morning appeared to at least meet investor expectations. at 8:28AM EDT, NOK is up 6.58% to $9.40 on trade of 5.84 million shares. At its current price, Nokia has a market cap of $32.71 billion, and  is currently on the low end of a 52-week range of $8.00 to $16.00. The biggest reason for the wireless company’s position at the bottom of its 52-week range is the same as the reason it is making major gains on expected earnings – the corporation has been performing poorly in the wireless race, and in its case, the lack of bad news is good news.

-Michael B. Sauter

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