Preopen Trading: Nokia Down After Profit-Taking
In premarket action, Nokia(NOK Quote) was hit by profit-taking, trading at $44.13, off 87 cents from Tuesday's closing price of $45. Yesterday, the telecom giant said it made a pact with wireless phone operator Omnitel to develop applications for third-generation UMTS mobile networks in Italy.
This morning, Nokia said it was awarded an expansion deal for China Unicom valued at more than $100 million. Nextel(NXTL Quote) was also trading higher at $47.25, up 25 cents from its close of $47. This morning WR Hambrecht rolled out coverage of the telecom stock with a buy rating and a $100 price target. Informix (IFMX Quote) was bid at $4, off $1.15 from Tuesday's close of $5.15. After the closing bell, the Web software maker warned investors that it would report third-quarter loss between 5 cents to 8 cents a share, missing the five-analyst estimate of a 2 cent profit. The company also warned that it would post break-even results in the fourth-quarter, also coming in below the five analyst estimate of a 6 cent profit. But strong quarterly results may cook up gains in the early going for restaurant chain operator Darden (DRI Quote). The company posted first-quarter earnings of 46 cents a share, topping the 14-analyst estimate of 41 cents and up from the year-ago 35 cent profit. Stocks are set for downticks at the opening bell. The S&P 500 futures
on Globex lately were off about 1 to 1477.40, about 1 point below fair value as calculated by Prudential Securities. Fair value is a good gauge of how stocks will perform in the early going. - Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |














