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UPDATE: Nokia Corp. (NOK) Popping on Questionable Takeover Chatter

June 8, 2012 9:21 AM EDT Send to a Friend
(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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