Why Shares of Nokia Jumped and IBM Fell
Investors who gave up on Nokia, BlackBerry, Ericsson, or Cisco Systems missed out on their rally.
Nokia gained over 60% from its 52-week low, adding 9.7% in reaction to its quarterly report.
According to CEO Justin Hotard,
Network infrastructure segment delivered 11% in net sales growth, with Optical Networks growing by 19%, thanks to AI and Cloud customers.
Nokia forecasts that its venture fund investments will add EUR 0.1 billion to its operating profit, with a full-year profit forecast of EUR 1.7 billion to 2.2 billion.
Meanwhile, IBM slipped toward its 50-day moving average, but then jumped by 9.31% on Oct. 24, closing at $307.46, a new 52-week high, after posting a 7% revenue growth rate in Q3.
CEO Arvind Krishna noted that
clients turned to IBM as a trusted partner to help them build embedded AI and infrastructure.
Author's summary: Nokia and IBM shares react to quarterly reports.
More News
- Why Malaysia's Gig Workers Bill entrenches workers' dependency, not protection - Aliran
- Conservation charity goes into liquidation amid financial problems
- In response to ‘The DMV: Humanity’s greatest crime against itself’
- Chicago Teachers Union spent $173K on poolside recording studio, won’t show audit to members
- Indonesia’s precariat protests call for stability
- AI-Powered Automation: The Key To Growing Your Business Faster