Why Nokia (NOK) Shares Are Gaining Today

NEW YORK (TheStreet) -- Nokia (NOK) was gaining 3.1% to $7.57 Tuesday on news that CaixaBank chose the smartphone maker as the preferred provider of employee phones the day before it will discuss the future of the Lumia brand.

The agreement between Nokia and CaixaBank includes the purchase of about 30,000 Nokia Lumia smartphones.

The smartphone maker will share its plans for future Lumia devices at the Microsoft (MSFT) BUILD developers' conference in San Francisco on April 2.

Nokia will soon sell its smartphone business to Microsoft. The deal was once expected to close at the end of March, but is now expected to close at the end of April.

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