|Day's Range||6.15 - 6.20|
|52 Week Range||4.04 - 6.65|
|PE Ratio (TTM)||-48.20|
|Dividend & Yield||0.18 (2.95%)|
|1y Target Est||N/A|
Finnish network equipment maker Nokia reported larger than expected quarterly profits on Thursday thanks to a patent deal with Apple and improving profitability at its network business, but warned its key market would slow. Network gear vendors have struggled in recent years amid weak demand from telecom operators, but Nokia has been outpacing Swedish rival Ericsson due to its 2016 acquisition of Franco-American rival Alcatel-Lucent. "In summary, a good second quarter, some challenges ahead this year, but also reasons to be optimistic about Nokia's ability to deliver," Chief Executive Rajeev Suri said in a statement.
Nokia Oyj (ADR) (NYSE:NOK) certainly qualifies as one of 2017’s top contenders. Year-to-date, NOK stock is up 29%, mocking those like me who interpreted its 30% loss in 2016 as a harbinger. Since the first of June, Nokia stock slipped more than 4% in the markets.
When Nokia sold off its handsets and focused on infrastructure, it also left behind the brand as consumers knew it. But in chasing emerging businesses, it's planning to build network traffic along with brand equity.