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Why Nokia (NOK) Stock Is Up Today

Stocks in this article: NOK MSFT

NEW YORK (TheStreet) -- Nokia (NOK) was gaining 1.1% to $7.42 Monday on news that its deal with Microsoft (MSFT) will close on April 25.

On April 25 Nokia will sell its Devices and Services division to Microsoft, turning over its smartphone business to the software giant. The deal was originally slated to close in March, but the two companies delayed the deal as they waiting for regulatory clearances in Asia.

The delay also came with some changes to the deal. Under the new deal 21 Nokia employees working on mobile phones in China will join Microsoft instead of the entire Nokia Chief Technology Office moving to Microsoft. Nokia will also maintain its Korean manufacturing facility under the new deal.

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"Nokia Oyj is a Finland-based company engaged in the manufacture of mobile devices and networks. It operates three business segments. Devices & Services segment is divided into two areas, Smart Devices, focused on Nokia's advanced products, such as smart phones, product development and marketing; and Mobile Phones, active in the area of mass market entry and feature phones, affordable smart phones, services, and applications. It also includes net sale of spare parts. Location & Commerce (HERE) segment develops location-based products and services for consumers, as well as platform services and local commerce services for the Group. Additionally, it provides content and map data to NAVTEQ's customers. Nokia Siemens Networks segment provides a portfolio of mobile, fixed and converged network technology, and professional services, such as consultancy, systems integration, deployment and maintenance. In August 2013, it acquired Siemens AG's whole stake in Nokia Siemens Networks."

NOK Chart

NOK data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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