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Nokia Stock Jumps More Than 5%

September 18, 2007 in Wireless Industry News

okia closed at $35.94, after a 5.36% jump that came after a key Federal Reserve rate cut. Nokia’s stock has been going gangbusters since the start of 2007, up almost 100% from its 52 week low.

Early this morning, the company announced a new device, the Nokia E51 business handset.

The telecom industry, along with much of the market, also moved significantly higher. Shares of RIMM (Research in Motion), Ericsson (of Sony Ericsson), and Motorola led the pack with gains of 4.73%, 4.31%, and 2.38% respectively. Even beleaguered Palm managed a strong showing, closing at a 2.08% gain.

The man most likely responsible for Nokia's 5% jump.

The man most likely responsible for today’s 5% jump.

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