NEW YORK (TheStreet) -- Alcatel-Lucent (ALU) soared Monday on reports the telecommunications equipment maker is in advanced talks with Nokia (NOK) to sell its wireless assets to the Finland-based company. Netflix (NFLX) surged following an upgrade by UBS. Hewlett-Packard (HPQ) advanced as an analyst foresees a higher share price for the computer maker.
Alcatel-Lucent surged 7.7% to close at $4.35 on a day when the broader markets retreated.
The telecommunications equipment maker is reportedly close to announcing a deal, possibly as early as this week, to sell its wireless assets to Nokia, according to a Bloomberg report. Alcatel's wireless unit generated approximately $5 billion in revenue last year.
Nokia is apparently interested in bolstering its telecommunications equipment operations with Alcatel's wireless unit. Although Nokia toyed with the idea of acquiring all of Alcatel-Lucent, in the end the expectations are for a partial acquisition of Alcatel's business.
Netflix soared 4.4% to end the session at $474.68.
The streaming video company got a boost after UBS upgraded the company to a buy from neutral and set a $565 price tag on the company. In issuing the upgrade, the analyst cited increased confidence that Netflix will ramp up its net international subscriber base and potentially reach a 20% penetration rate with the 500 million broadband-equipped homes overseas by 2020, according to a report in Barron's.
Netflix also got a boost Friday when Citigroup upgraded the company to buy from neutral and increased its price target to $525 from $409. Citigroup also noted it Netflix may rise as high as $750 in the long-term.
Hewlett-Packard jumped 1.8% to close the day at $32.70.
HP received a favorable assessment from Argus, which placed a $43 price target on the company. But Argus also foresees the company at a fair value even if it reaches $50, based on its underlying trends, according to a report in 24/7 Wall Street. Apparently, Argus believes this higher price target is warranted once HP breaks the company in two, with one company encompassing the Enterprise Group, Enterprise Services and Software and the other group a Personal Systems Group and Printing.
Additionally, HP unveiled a collection of new products Monday, including the HP Z Turbo Drive G2 PC-workstation for fast processing of large data sets, as well as the HP OMEN Pro Mobile Workstation to handle such tasks as product development to media and entertainment apps.