Nokia Corporation (ADR) (NYSE:NOK) Shares Trading Up After News that Srini Sundararajan is Coming on Board


Nokia Corporation (ADR) (NYSE:NOK) shares are trading up today after news brokethat Alcatel Lucent India CEO, Srini Sundararajan will be coming on board in a global IT advisory role sometime in the middle of January. This will happen after the Alcatel Lucent – Nokia merger is complete.

This news doesn’t come as too much of a surprise, but the idea that Sundararajan will be advising Nokia Corporation (ADR) (NYSE:NOK) could certainly freshen things up for the company, one which hasn’t seen its stock price fluctuate very muh in the past year.

Surely this was part of the strategy by Nokia Corporation (ADR) (NYSE:NOK) when they elected to purchase Alcatel-Lucent for €15.6 billion in an all-stock deal back in April. Not only do they get new technology but they get resources such as Sundararajan as well.

The stock is up 1.76% or $0.12 following the news, hitting $7.22 per share. About 6.89M shares traded hands. NOK has risen 1.58% since May 19, 2015 and is uptrending. It has outperformed the S&P500 by 3.84%.

From a total of 7 analysts covering Nokia (NYSE:NOK) stock, 5 rate it a “Buy”, 1 a “Sell”, and 1 a “Hold”. This means that 71% of the ratings are positive. Nokia was the topic of 7 analyst reports since August 26, 2015 according to the firm StockzIntelligence Inc. Credit Suisse upgraded shares on December 1 to a “Outperform” rating. Credit Agricole initiated NOK stock in a recent report from September 22 with a “Buy” rating. Finally, Bernstein maintained the stock with a “Outperform” rating in a report they issued on a September 3.

Nokia Corporation is a Finland-based firm that invests in technologies. The company has a market cap of $28.63 billion. The Firm operates through three business divisions: Nokia Networks, HERE and Nokia Technologies. It has 24.64 P/E ratio. Nokia Networks offers network infrastructure software, hardware and services.