Nokia's stock soars on heavy volume after earnings beat, raised outlook
Nokia Corp.'s U.S.-listed stock soared 7.5% toward a 3-month high in active premarket trading Thursday, after the Finland-based networking and telecommunications giant beat second-quarter profit and sales expectations and raised its full-year outlook. Trading volume was 3.4 million shares, making the stock the most actively traded on U.S. exchanges. The stock was on track to open at the highest level seen during regular-session hours since April 24. The stock is currently trading at levels that are 17% above the 16-month closing lows of $4.77 on May 14 and May 15. Through Wednesday, the stock has dropped 11.0% year to date, while the SPDR Technology Select Sector ETF has soared 33.5% and the S&P 500 has climbed 20.5%.
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