(Updates from 3:57 p.m. ET with closing information.)NEW YORK( TheStreet) Nokia ( NOK) shares gained 2.55% to $3.62 on news its telecommunications joint-venture could be worth more than $9 billion. An article in The Wall Street Journal speculates the company's telecommunications-equipment joint venture with Siemens may be up for sale. The German conglomerate has approached private equity firms, including TPG, Blackstone Group, and KKR about a possible buyout of its part of telecommunications-equipment joint venture with Nokia.
LinkedIn ( LNKD) shares rose 3.62% to $178.25 after Credit Suisse initiated coverage on the stock. Analysts at Credit Suisse gave LinkedIn an "outperform" rating with a $220 price target. The research firm cited the "all-you-can-eat subscription model", a expanding addressable market, and a profitable ad platform as potential catalysts for future success. "As we view LinkedIn over the longer term as a search marketing platform that will leverage its unique data set to place the right ad in front of the right user at the right time, it can potentially price on a per-lead transactional basis," analyst Stephen Ju wrote in the note.
Closing prices: NOK closed at $3.62, up 2.5%, while LNKD finished up 3.6% at $178.24. -- Written by David Webster in New York >Contact by Email. Follow @thedavidwebster