Nokia Corporation (ADR) (NYSE:NOK) announced that recent developments in India related to ongoing tax proceedings are not expected to affect the timing of the closing nor the material deal terms of the anticipated transaction between Nokia and Microsoft, announced on September 3, 2013. The transaction is still expected to close in the first quarter of 2014, subject to regulatory approvals and other customary closing conditions, irrespective of the proceedings in the Indian tax case. Nokia Corporation (ADR) (NYSE:NOK) stock opened at $7.18 in last trading session, and closed at $7.14, trading in the range of $7.11 – $7.30. The stock showed a negative weekly performance of -6.79%.
Ciena Corporation (NYSE:CIEN), the network specialist, and Ericsson (NASDAQ:ERIC), a world-leading provider of telecommunications equipment and services to mobile and fixed network operators, announced a strategic global agreement that includes packet-optical distribution, converged IP/optical joint development and distribution as well as an SDN collaboration framework. Ciena Corporation (NYSE:CIEN) shares closed at $25.00 on last trade day, by gaining 7.34%. Stock 52 week range is $14.14 – $27.93. Company’s market capitalization is $2.59 billion.
Morgan Stanley cut shares of Alcatel Lucent (NYSE:ALU) from an overweight rating to an equal weight rating in a research report sent to investors on Tuesday morning, Analyst RN reports. Alcatel Lucent SA (ADR) (NYSE:ALU) stock decreased -1.63% and finished the last session at $4.23. The EPS of the stock remained -1.60. Company’s market capitalization is $10.15 billion.
QUALCOMM, Inc. (NASDAQ:QCOM) quietly announced the death of the Snapdragon 802 this week, stating that “the overall demand for processors uniquely designed for smart TVs has proven to be smaller than anticipated.” It’s a shame, too — that quad-core chip was specifically designed to push 4K content to your living room with a robust app experience, complete with multitasking support. Considering how many Android sets have hit the market in the last few years, we’re left to wonder: is there really a dearth of demand, or is Qualcomm struggling to find a way to market its new silicon? QUALCOMM, Inc. (NASDAQ:QCOM) stock opened at $76.01 in last trading session and closed at $76.28. The 52 week range of the stock is $59.02 – $76.75 and the day range was $75.82 – $76.42.