Technology stocks are ending higher with shares of technology
companies in the S&P 500 gaining more than 0.8% shortly before
the closing bell.
In company news, Nokia (
) is up 4.1% in late trade to $3.84 a share, trading as high as
$4.12 today after the Financial Times reported Huawei is exploring
a possible buyout as part of its efforts to become the world's
leading smartphone maker, according to the head of the Chinese
telecom group's consumer business.
"We are considering these sorts of acquisitions; maybe the
combination has some synergies but depends on the willingness of
Nokia. We are open-minded," Richard Yu, chairman of Huawei's
consumer business group, told the FT.
Separately, Reuters reported earlier that Siemens (
) is seeking offers from private equity firms to buy its stake in
its telecoms equipment joint venture Nokia Siemens Networks, three
sources familiar with the discussions said.
In other sector news,
(+) RMBS, Narrows revenue guidance for the current quarter, now
forecasting revenue in a range of $56 mln to $58 mln - raising the
bottom of its prior guidance range by $3 mln. Analysts, on average,
are looking for around $57 mln in Q2 revenue at the .
(-) CLWR, Majority owner Sprint Nextel (
) files suit in Delaware Chancery Court against the company and
Dish Networks (
) seeking to block DISH' $4.40 per share tender offer. Today also
is the deadline for DISH to raise its $25.5-bln bid to trump a
$3.40-per-share offer by Softbank for the CLWR shares it already
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