Nokia, Zynga, Quest: Tech Winners & Losers
NEW YORK (TheStreet) - Shares of Nokia (NOK) tanked 14.52% to $2.38 on Thursday after the Finnish phone maker cut its earnings outlook for the second time in nine weeks and announced major restructuring plans .
Another troubled handset maker, Research in Motion (RIMM) also dropped on Thursday, slipping 4.5% to $10.19.
Shares of Zynga (ZNGA) crept up 0.3% to $5.06 despite Morgan Stanley (MS) lowering its price target for the game maker to $13 on potential risks to future growth.
Quest Software (QSFT) soared 9.39% to $26.10 after a strategic bidder offered to acquire the company for about $2.5 billion in cash, trumping an offer of nearly $2 billion made by a private equity firm in March.
--Written by Nathalie Pierrepont in New York. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. >Contact by Email. Follow @nrpierrepontSelect the service that is right for you!
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