Looking, even you have to acknowledge that $29 is a lot higher than $25. And $25 is where most of the recent shorts established their positions, so it is reasonable to expect some further short covering.
As to the Nokia buyout rumor, it probably won't happen but it would make a hell of a lot of sense for Nokia. They are getting killed in the smart phone market precisely because they refuse to license IDCC's technology and $14 of the purchase price would be covered by IDCC's own cash. A $42 buyout would solve a lot of Nokia's problems and InterDigital's disenchanted shareholders are ready to sell and realize something on their investment.
So, it's not just hoping -- it's a logical hypothesis.
Nokia can't believe that the next ruling will rule that all uses of 'code' and 'signal' from now on will use wrong meaning used by the ALJ. Nokia knows they will lose. They must settle or buy out IDCC.