Nokia Shares Rise, Microsoft Falls in Reaction to Deal
Shares of Nokia, the soon-to-be-ex-Finnish wireless phone giant, are rising significantly in reaction to the company’s $7 billion deal to sell its devices business and license its wireless patents to U.S. software company Microsoft.
After the first hour of trading this morning, American Depository Receipts of Nokia had risen by $1.37, or more than 35 percent, to $5.26. Before the announcement of today’s deal, the shares had fallen by more than one percent this year.
Meanwhile, shares of Microsoft fell by more than five percent in reaction to news of the deal. By 10:30 am ET, Microsoft shares had fallen by $1.81 to $31.59. The move mostly erased the benefits of a rally in Microsoft shares that came on Aug. 23, after CEO Steve Ballmer announced plans to retire from the company. Prior to today’s news, the shares had risen by more than 25 percent this year.
- Microsoft CEO Promises to Limit Nokia Phone Names to 10 Syllables or Less
- Samsung, HTC Mum on Any Interest in Windows Phone Post-Nokia
- Elop in July: It’s “Hard to Understand the Rationale” for Selling Nokia’s Devices Business
- Microsoft Is Getting Nokia’s Phone Business for a Song
- Nokia Shares Rise, Microsoft Falls in Reaction to Deal
- So Much for BlackBerry’s “Clear Shot” at Being No. 3 in the Smartphone Market
- Selling Nokia Was Hard Emotionally, But Right Thing to Do, Says Interim CEO
- Marko Ahtisaari, Nokia’s Top Designer, To Leave Company in November
- Steve Ballmer on Why Buying Microsoft’s Biggest Phone Partner Makes Sense
- Nokia Interim CEO: We Have Three Strong Businesses Remaining
- Barcelona Rendezvous, 50 Nokia Board Meetings Led to Microsoft Deal
- Microsoft’s Nokia Deal By The Numbers
- Microsoft Confirms It Gets Less Than $10 Per Nokia Windows Phone Sold
- Stephen Elop Is Now Microsoft CEO Candidate to Beat
- Microsoft Wants to Keep Licensing Windows Phone to Others, Post-Nokia Deal
- Microsoft Explains the Rationale Behind the Nokia Deal
- Microsoft to Buy Nokia’s Device Business in Deal Worth $7.17 Billion