UPDATE: Nokia Corp. (NOK) Popping on Questionable Takeover Chatter
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(Updated - June 8, 2012 9:38 AM EDT)
Nokia Corp. (NYSE: NOK) is popping early Friday morning on questionable rumors it might be a takeover target of Samsung.
Shares are up about 6 percent early.
Rumors of a takeover could not be confirmed.
Following shares dropping from a 52-week high of $7.38 last October, Nokia's current market cap of $10 billion might make it an easy move for Samsung.
UPDATE: In addition to Samsung being named as a possible bidder, traders cite rumors of a $20 billion bid from China's Huawei. In addition, some say partner Microsoft (Nasdaq: MSFT) could make a move.
Again, these rumors are just that "rumors" and likely have little if any merit. Nonetheless they are moving the stock today.
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Nokia Corp. (NYSE: NOK) is popping early Friday morning on questionable rumors it might be a takeover target of Samsung.
Shares are up about 6 percent early.
Rumors of a takeover could not be confirmed.
Following shares dropping from a 52-week high of $7.38 last October, Nokia's current market cap of $10 billion might make it an easy move for Samsung.
UPDATE: In addition to Samsung being named as a possible bidder, traders cite rumors of a $20 billion bid from China's Huawei. In addition, some say partner Microsoft (Nasdaq: MSFT) could make a move.
Again, these rumors are just that "rumors" and likely have little if any merit. Nonetheless they are moving the stock today.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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