Nokia (NOK) NewsBite - NOK Rises on Release of New Smartphone

Posted: Wednesday, November 18, 2009 10:53 AM EDT

Nokia (NYSE: NOK) opened at $13.95. So far today, the stock has hit a low of $13.85 and a high of $14.02. NOK is now trading at $14.01, up $0.33 (2.41%). Over the last 52 weeks the stock has ranged from a low of $8.47 to a high of $16.73. NOK shares are on the move today after the company announced that its Nokia N900 is now on sale in the United States. The phone retails for $649. Technical indicators for the stock are neutral and S&P gives NOK a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on NOK the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 12 range. [ABR-Seven Summits Strategic Investments NewsBite]

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