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Nokia Rises 9.3% on Earnings, Ericsson Also up

TSC Staff

Mobile phone company Nokia (NOK) was up 22.9% in early trading after it reported third-quarter earnings rose 42% over a year ago, beating analysts expectations.

The Finnish company moved its earnings release up a week for undisclosed reasons. Nokia predicted record profits in the fourth-quarter and said it expects to meet its 25% to 30% sales growth target.

Ericsson was also higher, rising 9.3% in early trading.