Nokia (NYSE:NOK) Stock, Quote.Headers.trade-ideas

Nokia

Nokia provides telecom equipment and services that are used to build wireless and fixed-line networks. It operates in four segments. The mobile networks segment, which sells equipment and services to telecom carriers to power public wireless networks, is the largest, followed closely by network infrastructure. Network infrastructure focuses on fixed networks, including infrastructure, solutions, and components for IP networks, optical networks, and submarine networks. Cloud and network services is a nascent segment catering to enterprises with as-a-service platforms. Nokia also has a sizable research division and patent business, where it licenses technology used by handset providers, consumer electronics firms, and other firms making electronic and Internet of Things products.

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Nokia Corporation (NYSE: NOK) recently inked an agreement with iSAT Africa for an undisclosed amount to enhance broadband connectivity across rural areas in Liberia.

Nokia to Help Bridge Digital Divide in Liberia: Will the Stock Gain?

T-mobile logo Photo by viewimage on Shutterstock

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T-Mobile US has announced a partnership with NVIDIA, Ericsson, and Nokia to shape the future of mobile networks by placing AI at the forefront.

T-Mobile Partners with NVIDIA, Ericsson, And Nokia to Pioneer AI-Driven Mobile Networks

Nokia headquarters

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Nokia Corp is actively searching for a new CEO as it struggles with declining sales and a depressed share price.

Networking Giant Nokia Seeks New CEO Amid Declining Sales And Subdued Share Price

Nokia Corporation Sponsored American Depositary Shares

Nokia Oyj

NOK AIRLINES PUBLIC CO by Nok Airlines Public Co Ltd.

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Amazon Disagrees With Court's Decision In Nokia Case, Confident In Quick Resolution; Confirms Fire TV Devices Remain Available And Expresses Disappointment In Nokia's Actions

Nokia Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nok#NYSE">NOK</a>) recently inked an agreement with iSAT Africa for an undisclosed amount to enhance broadband connectivity across rural areas in Liberia. The three-year deal spanning more than 200 sites in the West African country aims to bridge the digital divide by providing a reliable, affordable and easily accessible network to underserved rural communities.
<h2>How NOK Likely Secured the Deal</h2>
Nokia is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale products, which enables customers to upgrade to 5G quickly, is growing fast. It is driving the transition of global enterprises into smart virtual networks by creating a single network for all services, converging mobile and fixed broadband, IP routing and optical networks with the software and services to manage them. Leveraging state-of-the-art technology, it is transforming the way people and things communicate and connect.
The company aims to create new business and licensing opportunities in the consumer ecosystem. It facilitates customers to move away from an economy-of-scale network operating model to demand-driven operations by offering easy programmability and flexible automation required to support dynamic operations, reduce complexity and improve efficiency. It seeks to expand its business into targeted, high-growth and high-margin vertical markets to address growth opportunities beyond its traditional primary markets.
<h2>What This Collaboration Brings on the Table</h2>
Nokia&#39;s partnership with this integrated communications services provider that specializes in broadcasting &amp; rural connectivity in Africa and the Middle East will seek to drive socio-economic development in the remote areas of Liberia. Per the deal, Nokia will deploy its AirScale radio portfolio along with MantaRay Network Management solutions for effective monitoring and management capabilities to address critical challenges such as limited coverage and the wide digital divide in rural regions.
<h2>Will NOK Stock Benefit?</h2>
Nokia has emerged as one of the leading players in the development of advanced 5G technology and is at the forefront of extending 5G use cases in various industries. It has laid a strong foundation of innovation through substantial infrastructure investments. This has led to the establishment of an impressive portfolio comprising approximately 20,000 patent families, including more than 6,000 patent families that are deemed crucial to 5G technology.
The collaboration with iSAT Africa is likely to propel the stock on incremental revenue generation and inducement of similar deals from other carriers in the future. The agreement is also expected to strengthen Nokia&#39;s position as a leading telecommunications equipment provider in the region.
The stock has gained 16.7% over the past six months compared with the industry&#39;s growth of 12.9%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/92/78441.jpg?v=1839641549" /> 
Image Source: Zacks Investment Research
<h2>NOK Zacks Rank &amp; Stocks to Consider</h2>
Nokia currently carries a Zacks Rank #3 (Hold).
Arista Networks, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/anet#NYSE">ANET</a>), carrying a Zacks Rank #2 (Buy) at present, is likely to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experiences. Arista has a long-term earnings growth expectation of 17.2% and delivered an earnings surprise of 15%, on average, in the trailing four quarters.
It holds a leadership position in 100-gigabit Ethernet switching share in port for the high-speed data center segment. Arista is increasingly gaining market traction in 200 and 400-gig high-performance switching products. It is well-positioned for healthy growth in data-driven cloud networking business with proactive platforms and predictive operations.
AudioCodes Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/audc#NASDAQ">AUDC</a>) currently carries a Zacks Rank #2. It delivered an earnings surprise of 10.1%, on average, in the trailing four quarters.
Headquartered in Lod, Israel, AudioCodes offers advanced communications software, products and productivity solutions for the digital workplace. It provides a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.
Airgain, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/airg#NASDAQ">AIRG</a>) currently carries a Zacks Rank #2. It has a long-term earnings growth expectation of 35%.
Headquartered in San Diego, CA, Airgain offers integrated wireless solutions in the form of antenna products. These products are equipped to solve critical connectivity needs in both the design process and the operating environment across the enterprise, automotive and consumer markets. Ideal for original equipment and design manufacturers, vertical markets, chipset vendors, service providers, value-added resellers and software developers worldwide, the customizable antennas from Airgain serve both indoor and outdoor connectivity issues.
<a href="https://www.zacks.com/stock/news/2338515/nokia-to-help-bridge-digital-divide-in-liberia-will-the-stock-gain?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2338515">To read this article on Zacks.com click here.</a>

T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Wednesday.</a>
The company has announced a partnership with NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Ericsson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>), and Nokia Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) to shape the future of mobile <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40922877/t-mobile-announces-technology-partnership-with-nvidia-ericsson-and-nokia-to-advance-the-future-of-" rel="noreferrer noopener">networks by placing AI at the forefront.</a>
This collaboration will enhance the capabilities of radio access networks (RAN) in innovative ways to better serve customers.
&#8220;Just like T-Mobile led in 5G, we intend to lead in the next wave of network technology, for the benefit of our customers,&#8221; said Mike Sievert, CEO of T-Mobile.
By leveraging T-Mobile&#8217;s leadership in 5G, along with the expertise of NVIDIA, Ericsson, and Nokia in telecommunications solutions, the group, known as the founding members of the AI-RAN Alliance, is investing in an industry-first AI-RAN Innovation Center located in Bellevue, Washington.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40921827/fed-decision-is-here-5-things-investors-need-to-know-ahead-of-wednesdays-pivotal-in" rel="noreferrer noopener">Fed Decision Is Here: 5 Things Investors Need To Know Ahead Of Wednesday&#8217;s Pivotal Interest Rate Call</a>
&#8220;AI-RAN at T-Mobile will be all about unlocking the massive capacity and performance that customers increasingly demand from mobile networks,&#8221; the CEO said.
This center will focus on integrating RAN and AI advancements to create transformative network experiences for customers.
The CEO stated that the collaboration among T-Mobile, NVIDIA, Nokia, and Ericsson would shape the future of mobile networks in the 5G Advanced era and beyond, driving meaningful progress.
In a separate <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40922898/t-mobile-and-openai-join-forces-to-revolutionize-the-customer-experience-with-first-ever-intent-dr" rel="noreferrer noopener">release</a>, the company announced that it has inked a pact with OpenAI to revolutionize the customer experience and reset customer success benchmarks for companies worldwide. The two companies are custom-building the first intent-driven AI-decisioning platform of its kind, called IntentCX.
Price Action: TMUS shares are trading lower by 2.5% to $197.57 at last check Wednesday.
Photo by viewimage on Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

T-Mobile Partners With NVIDIA, Ericsson, And Nokia To Launch AI-RAN Innovation Center, Combining 5G Advanced And AI To Revolutionize Mobile Networking And Enhance Customer Experiences

Contracts

CoreWeave Has Selected Nokia To Deploy Its IP Routing And Optical Transport Portfolios Globally As Part Of An Extensive Backbone Build-out, With Immediate Roll-out Across Its Data Centers In US And Europe

Nokia Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) is actively searching for a new CEO as it struggles with declining sales and a depressed share price.
What Happened: The Finnish telecom equipment giant has approached potential candidates to replace current CEO Pekka Lundmark, who has been at the helm since 2020. The search is ongoing, with at least one headhunter involved in the process, Financial Times reported <a href="https://www.ft.com/content/5f086aee-91b9-421a-9f32-c33e67b1af7f">citing</a>, people familiar with the matter.
Lundmark, who initially stabilized the company, has faced criticism for failing to boost revenues. Despite restructuring efforts and cost-cutting measures, Nokia&#8217;s sales remain lower than they were in 2016, following its €15.6 billion acquisition of Alcatel-Lucent.
Additionally, Nokia is seeking a new chair as Sari Baldauf approaches her 70th birthday next year. Outsiders have been contacted, and the new chair is not expected to come from the current board, according to the report.
In a statement, Nokia said, &#8220;The Board fully supports President and CEO Pekka Lundmark and is not undergoing a process to replace him.&#8221; The company emphasized its ongoing assessment of leadership succession plans, according to the report.
The search for new leadership comes as Nokia grapples with sluggish spending by telecom operators and increased competition from rivals like Ericsson and Huawei.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40825182/anthony-scaramucci-said-last-week-bitcoin-could-touch-up-to-200k-now-hes-thanking-living-l?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Said Last Week Bitcoin Could Touch Up to $200K, Now He&#8217;s Thanking &#8216;Living Legend&#8217; Michael Saylor For Book Foreword</a>
Why It Matters: Nokia&#8217;s leadership shakeup comes on the heels of <a href="https://www.benzinga.com/news/earnings/24/07/39834407/nokias-q2-earnings-record-low-revenue-as-5g-investment-slows-annual-outlook-cut-stock-slides">several significant developments</a>. In July, Nokia reported a fiscal second-quarter 2024 net sales decline of 18% year-on-year, marking a record low since 2015. 
This drop was attributed to weak investment in mobile network upgrades, particularly in the 5G equipment market, prompting Nokia to overhaul its network infrastructure division.
In June, Nokia announced its acquisition of Infinera Corporation in a transaction valuing the company at $6.65 per share, or an enterprise value of $2.3 billion. This acquisition aimed to bolster Nokia&#8217;s <a href="https://www.benzinga.com/m-a/24/06/39537794/nokia-to-acquire-infinera-infineras-stock-soars">optical networking capabilities</a>. 
Furthermore, last year, Nokia disclosed a multi-year agreement with AT&amp;T Inc. to deploy next-generation fiber access technology. This five-year deal includes upgrading AT&amp;T's current fiber infrastructure and implementing next-gen <a href="https://www.benzinga.com/markets/equities/24/09/40690110/nokia-and-at-t-partner-for-next-gen-fiber-network-details">technologies for future expansions</a>.
Additionally, Nokia teamed up with CommScope Holding Company, Inc. to develop a solution for seamless in-building and <a href="https://www.benzinga.com/markets/equities/24/09/40682168/nokia-teams-up-with-commscopes-ruckus-for-next-gen-fiber-wi-fi-solutions-details">campus-wide connectivity</a>. This partnership integrates Nokia's fiber-based Optical LAN with RUCKUS Networks' enterprise Wi-Fi and switching technologies.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

<a href="https://www.ft.com/content/5f086aee-91b9-421a-9f32-c33e67b1af7f" title="https://www.ft.com/content/5f086aee-91b9-421a-9f32-c33e67b1af7f">https://www.ft.com/content/5f086aee-91b9-421a-9f32-c33e67b1af7f</a>

Management

Nokia OYJ Says Board Fully Supports President And CEO Pekka Lundmark And Is Not Undergoing A Process To Replace Him In Response To Financial Times Article "Nokia seeks to replace CEO in bid to revive falling sales"

Northland Capital Markets analyst Tim Savageaux reiterates Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) with a Outperform and raises the price target from $6 to $6.5.

Price Target

Reiteration

Northland Capital Markets Reiterates Outperform on Nokia, Raises Price Target to $6.5

Shares of AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) are trading higher today. Here&#8217;s <a href="https://www.benzinga.com/markets/equities/24/09/40690110/nokia-and-at-t-partner-for-next-gen-fiber-network-details">what you need to know.</a>
What To Know: The company announced a webcast featuring CEO John Stankey at the Goldman Sachs Communacopia + Technology Conference scheduled for September 10. This event is expected to provide insights into AT&amp;T's strategic direction and operational updates. Additionally, AT&amp;T&#8217;s recent multi-year partnership with Nokia Oyj Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) to enhance its fiber network infrastructure is drawing attention from investors and analysts.
What Else:
<ul>
<li>Fiber Network Upgrade Partnership: AT&amp;T has signed a five-year deal with Nokia to upgrade its current fiber infrastructure and deploy next-generation fiber access technology. This partnership will utilize Nokia's Lightspan MF and Altiplano platforms to enhance AT&amp;T's extensive fiber network, which already reaches 27.8 million locations as of the second quarter of 2024. The collaboration aims to support next-gen PON (Passive Optical Network) technologies, allowing for faster and more efficient data transmission, as well as improved network automation capabilities through the Altiplano Access Controller. This move aligns with AT&amp;T's strategy to strengthen its fiber offerings and expand its broadband reach, ensuring it remains competitive in the high-speed internet market.</li>
<li>Additional Developments: Beyond the Nokia partnership, the announcement follows news of Nokia losing a significant contract with AT&amp;T to Ericsson Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>), which was chosen to build a telecom network covering 70% of AT&amp;T's U.S. wireless traffic by 2026. Despite this setback, Nokia&#8217;s new deal with AT&amp;T reflects its ongoing efforts to remain a key player in the telecom infrastructure space.</li>
</ul>
Price Action: As of the latest trading session, AT&amp;T shares have risen by 2.44% to $20.39, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent090324&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="1024" height="544" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03111306/ATANDT-1024x544.png" alt="" class="wp-image-527370" style="width:414px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03111306/ATANDT-1024x544.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03111306/ATANDT-300x159.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03111306/ATANDT-768x408.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/03111306/ATANDT.png 1092w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Image Via Shutterstock.

AT&T Shares Are On The Rise: What's Going On

Nokia Oyj&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) disclosed a multi-year agreement with AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) to deploy next-generation fiber <a target="_blank" href="https://www.nokia.com/about-us/news/releases/2024/09/03/nokia-signs-strategic-deal-with-att-to-accelerate-future-ready-fiber-broadband-growth/" rel="noreferrer noopener">access</a> technology.
The five-year deal includes upgrading AT&amp;T&#8217;s current fiber infrastructure and implementing next-gen technologies for future expansions.
Nokia plans to supply its Lightspan MF and Altiplano platforms to support AT&amp;T&#8217;s extensive fiber network, which passed 27.8 million total fiber locations as of the second quarter of 2024.
The company&#8217;s fiber solutions enable AT&amp;T to swiftly build a future-ready network, supporting next-gen PON technologies and enhanced automation through the Altiplano Access Controller.
Sandy Motley, President of Fixed Networks at Nokia, said,&nbsp;&#8220;This collaboration is a major milestone in our mission to connect more people and businesses. Our fiber solution opens the door to a full range of PON technologies available on the same platform and fiber.&#8221;
&#8220;This includes 10/25G PON today and eventually 50/100G PON in the future. Ultimately this can help operators like AT&amp;T make the most of their existing fiber broadband networks today and in the future.&#8221;
As per Reuters, the deal follows Nokia&#8217;s loss of a major contract with AT&amp;T to Ericsson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>), which AT&amp;T selected in December to build a telecom network covering 70% <a target="_blank" href="https://www.benzinga.com/markets/equities/23/12/36085721/ericsson-shares-jump-after-winning-largest-deal-financially-in-its-history-details" rel="noreferrer noopener">of its U.S. wireless traffic by late 2026.</a>
Investors can gain exposure to NOK stock via&nbsp;iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>) and&nbsp;Defiance Connective Technologies ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIXG#NASDAQ">SIXG</a>).
Apart from this, today, Nokia disclosed a collaboration with&nbsp;RUCKUS Networks to develop a solution for seamless in-building&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40682168/nokia-teams-up-with-commscopes-ruckus-for-next-gen-fiber-wi-fi-solutions-details" rel="noreferrer noopener">and campus-wide connectivity</a>.
Price Action: NOK shares are down 1.46% at $4.395 at the last check Tuesday.
Image: Nokia
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

COMM

iShares U.S. Digital Infrastructure and Real Estate ETF

IDGT

SIXG

Nokia And AT&T Partner For Next-Gen Fiber Network: Details

Nokia Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) shares are trading lower premarket Tuesday. The company disclosed a collaboration with CommScope Holding Company, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COMM#NASDAQ">COMM</a>) RUCKUS Networks to develop a solution for seamless in-building <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40679728/nokia-and-ruckus-networks-collaborate-to-deliver-integrated-fiber-and-wi-fi-in-buildingcampus-conn" rel="noreferrer noopener">and campus-wide connectivity</a>.
This partnership is expected provide an integrated fiber and Wi-Fi solution tailored to various industry needs, including MDUs, offices, large venues, hospitality, and medical facilities.
The collaboration integrates Nokia&#8217;s fiber-based Optical LAN with RUCKUS Networks&#8217; enterprise Wi-Fi and switching technologies, creating an integrated&nbsp;infrastructure.
Sandy Motley, President of Fixed Networks at Nokia, said,&nbsp;&#8220;Fiber is a fantastic technology with a wide range of benefits. As an Optical LAN, it can reduce energy costs by 40% and TCO by as much as 50%.&#8221;
&#8220;When combined with RUCKUS&#8217;s industry-leading Wi-Fi portfolio, we are creating a campus connectivity solution that will allow enterprises to grow their business, reduce their costs, and be more sustainable.&#8221;
Last month, Nokia denied reports of selling its mobile network business and stated that it is dedicated to the <a target="_blank" href="https://www.benzinga.com//node/40650389" rel="noreferrer noopener">success of its mobile network business</a>.
Investors can gain exposure to the stock via&nbsp;iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>) and&nbsp;Defiance Connective Technologies ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIXG#NASDAQ">SIXG</a>).
Price Action: NOK shares are down 1.35% at $4.40 premarket at the last check Tuesday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Nokia Teams Up With CommScope's RUCKUS For Next-Gen Fiber-Wi-Fi Solutions: Details

Nokia today announced a collaboration with RUCKUS Networks, a CommScope business, to create an innovative solution for deploying seamless in-building and campus-wide connectivity, uniquely tailored to the needs of diverse industry verticals. This partnership offers an integrated fiber and Wi-Fi solution for delivering broadband service inside MDUs, offices, large venues, hospitality, medical facilities, and other enterprise segments.
Fiber is a game changer for campus and in-building connectivity due to its ability to offer future-proof capacity while significantly reducing power consumption and total cost of ownership. In addition to providing a single network for all services, it is essential to connect Wi-Fi access points. The combination of fiber and Wi-Fi delivers robust and scalable connectivity across mobility, IoT, and digital transformation initiatives.
This joint solution combines Nokia's best-in-class fiber-based Optical LAN with RUCKUS Network's industry-leading enterprise Wi-Fi and switching solutions, creating an integrated infrastructure.

Nokia Teams Up with CommScope's RUCKUS Networks to Enhance Campus and In-Building Connectivity with Integrated Fiber and Wi-Fi

As per a report, Canadian Prime Minister&nbsp;Justin&nbsp;Trudeau&nbsp;announced that Canada would impose a 100% tariff on Chinese electric vehicle imports. In addition, Ottawa will levy a 25% tariff on imported steel <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/08/40558213/trudeau-announces-canadas-100-ev-tariff-on-china-for-not-playing-by-the-same-rules-ev-stocks-drop-" rel="noreferrer noopener">and&nbsp;aluminum from China</a>.
A senior ally of Russian President Vladimir Putin claimed on Tuesday that Washington orchestrated the French arrest of Pavel Durov, the founder and CEO of Telegram, a messaging platform essential <a href="https://www.benzinga.com/news/24/08/40569423/russian-presidents-ally-accuses-us-of-orchestrating-arrest-of-telegram-founder-pavel-durov-in-france" target="_blank" rel="noreferrer noopener">for communication in the Ukraine war</a>.
Pavel Durov&#8217;s&nbsp;arrest has sent shockwaves through Russia and&nbsp;raised global concerns&nbsp;about digital rights and freedom of expression. The arrest was led by&nbsp;Laure Beccuau, a <a target="_blank" href="https://www.benzinga.com/news/24/08/40571337/who-is-laure-beccuau-the-prosecutor-behind-telegram-ceo-pavel-durovs-detention-in-france" rel="noreferrer noopener">prominent figure in France's judiciary</a>.
Earnings Results
PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) reported&nbsp;fiscal second-quarter 2024&nbsp;revenue growth of 86% Y/Y to $13.36 billion (97.06 billion Chinese yuan), missing the&nbsp;analyst consensus estimate of $14.02 billion. Adjusted earnings per ADS of $3.20 (23.24 Chinese yuan), beating the&nbsp;analyst <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40548945/temu-parent-pdd-posts-86-q2-topline-growth-stock-drops-after-ceo-flags-upcoming-challenges" rel="noreferrer noopener">consensus estimate of $2.73</a>.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) continued its streak of outperformance&nbsp;as the artificial intelligence stalwart's second-quarter earnings and <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40613050/nvidia-q2-earnings-guidance-top-street-view-as-ai-fuels-record-data-center-revenue-gross-margin-fal" rel="noreferrer noopener">revenue&nbsp;outdid expectations</a>.
Gaming
As the release date for Call of Duty: Black Ops 6 rapidly approaches,&nbsp;Microsoft Corp.‘s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Activision has officially&nbsp;announced&nbsp;the minimum and recommended <a target="_blank" href="https://www.benzinga.com/general/gaming/24/08/40610686/call-of-duty-black-ops-6-pc-requirements-unveiled-heres-what-you-need-to-know" rel="noreferrer noopener">PC&nbsp;specifications for the game</a>.
Sony Group Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) has&nbsp;launched&nbsp;a new Accessories app for Windows, enabling PC users to customize their PlayStation 5 <a target="_blank" href="https://www.benzinga.com/general/gaming/24/08/40585859/sony-brings-full-dualsense-edge-customization-to-pc-with-new-app" rel="noreferrer noopener">DualSense Edge&nbsp;controllers</a>.
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/08/40635576/leak-reveals-key-details-about-the-ps5-pro-what-we-know-so-far" rel="noreferrer noopener">PS5 Pro Leak Reveals Key Details: What We Know So Far</a>
Arnaud Muller, the European CEO of Bandai Namco Holdings ADR&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDY#OTC">NCBDY</a>) is optimistic about the video game industry despite the significant upheaval over the past two years, with an estimated 20,000 layoffs and <a href="https://www.benzinga.com/general/gaming/24/08/40557824/bandai-namco-ceo-2024-is-the-year-of-stabilization-for-gaming-industry" target="_blank" rel="noreferrer noopener">numerous&nbsp;studio closures</a>.
Steam hits a new record with over 37 million concurrent players, driven by the success of Black Myth: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/08/40560450/steam-sets-new-concurrent-player-record-with-over-37-million-users" rel="noreferrer noopener">Wukong and other top games</a>.
Social Media, Online Platform &amp; Others
Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and pay-TV provider,&nbsp;DirecTV, owned by&nbsp;AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and&nbsp;TPG Capital&nbsp;are currently in contract renewal talks that <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/08/40568015/directv-and-disney-talking-over-flexible-netflix-like-channel-packages-but-fallout-from-fai" rel="noreferrer noopener">could reshape the pay-TV landscape</a>.
Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has announced the launch of its artificial intelligence-powered shopping assistant, Rufus, in India. This comes after Rufus&#8217;s successful introduction in the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40568608/amazon-rolls-out-ai-shopping-assistant-in-india-nearly-a-year-behind-walmart-backed-flipkart" rel="noreferrer noopener">United States six months prior</a>.
HMD Global, the company behind&nbsp;Nokia Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>)-branded phones, has teamed up with toy manufacturer&nbsp;Mattel Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) to introduce a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/08/40592576/theres-a-129-barbie-phone-generating-tons-of-buzz-is-it-worth-the-pink-hype" rel="noreferrer noopener">Barbie</a><a target="_blank" href="https://www.benzinga.com/news/24/08/40592576/theres-a-129-barbie-phone-generating-tons-of-buzz-is-it-worth-the-pink-hype" rel="noreferrer noopener">-themed flip phone</a>.
The Supreme Court of Brazil imposed a financial freeze on&nbsp;Elon Musk‘s&nbsp;Starlink, a subsidiary of&nbsp;SpaceX. This action is part of an&nbsp;escalating legal dispute&nbsp;that could potentially lead to the suspension <a target="_blank" href="https://www.benzinga.com/news/24/08/40643433/elon-musk-lashes-out-at-judge-after-brazils-supreme-court-blocks-starlinks-bank-accounts-criminal-we" rel="noreferrer noopener">of Musk's social media platform,&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/08/40643433/elon-musk-lashes-out-at-judge-after-brazils-supreme-court-blocks-starlinks-bank-accounts-criminal-we" rel="noreferrer noopener">X</a><a target="_blank" href="https://www.benzinga.com/news/24/08/40643433/elon-musk-lashes-out-at-judge-after-brazils-supreme-court-blocks-starlinks-bank-accounts-criminal-we" rel="noreferrer noopener">, in Brazil</a>.
Technology
Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;has reportedly decided to discontinue the development of a headset intended to rival&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/08/40545520/metas-apple-vision-pro-rival-reportedly-canceled-after-a-review-meeting-between-mark-zuckerberg-cto" rel="noreferrer noopener">Apple Inc.</a><a target="_blank" href="https://www.benzinga.com/news/24/08/40545520/metas-apple-vision-pro-rival-reportedly-canceled-after-a-review-meeting-between-mark-zuckerberg-cto" rel="noreferrer noopener">‘s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Vision Pro</a>.
Meta has reportedly decided to discontinue its custom chip development for its <a target="_blank" href="https://www.benzinga.com/news/24/08/40594209/mark-zuckerbergs-meta-abandons-custom-chip-development-for-orion-ar-glasses-report" rel="noreferrer noopener">upcoming&nbsp;augmented reality glasses</a>.
Read: <a target="_blank" href="https://www.benzinga.com/markets/asia/24/08/40553145/despite-us-limits-on-chinas-access-to-nvidia-chips-tech-titans-like-alibaba-and-tencent-ramp-up-ai-i" rel="noreferrer noopener">Despite US Limits On China&#8217;s Access To Nvidia Chips, Tech Titans Like Alibaba And Tencent Ramp Up AI Investments</a>
Apple is all set to launch the&nbsp;iPhone 16&nbsp;alongside the new Apple Watch and AirPods at an event on September 10, days after a&nbsp;leaked <a target="_blank" href="https://www.benzinga.com/news/24/08/40540086/apple-to-unveil-iphone-16-watches-and-airpods-at-september-10-event-report" rel="noreferrer noopener">invite&nbsp;pointed at the possibility</a>.
Ahead of the highly anticipated launch of its&nbsp;artificial intelligence-equipped iPhones, Apple has reportedly increased its&nbsp;orders for new iPhones, signaling strong <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40619402/apple-ramps-up-iphone-16-orders-by-over-10-ahead-of-september-launch-anticipating-surge-in-deman" rel="noreferrer noopener">confidence in its upcoming products</a>.
Apple&#8217;s burgeoning operations in India are set to generate around 600,000&nbsp;jobs by the close of this fiscal year. This surge in job creation is a result of the tech giant's strategic move to <a target="_blank" href="https://www.benzinga.com/markets/asia/24/08/40568324/apples-bullish-expansion-in-india-to-create-200k-direct-jobs-by-march-2025-report" rel="noreferrer noopener">diversify its production from China</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40575537/apple-analyst-says-historic-upgrade-cycle-will-push-valuation-past-4-trillion-as-cu" rel="noreferrer noopener">Apple Analyst Says &#8216;Historic&#8217; Upgrade Cycle Will Push Valuation Past $4 Trillion As Cupertino Sets Date For AI-Enabled iPhone Launch</a>
Apple&#8216;s CFO Luca Maestri decided to step down in Jan. 2025, with Kevan Parekh stepping in as <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40584725/apple-investors-hope-for-more-of-the-same-as-cfo-transition-nears" rel="noreferrer noopener">part of a planned succession</a>.
Edward Snowden, the well-known National Security Agency whistleblower has criticized the arrest of&nbsp;Telegram&nbsp;founder and CEO&nbsp;Pavel Durov, calling it <a target="_blank" href="https://www.benzinga.com/news/24/08/40545428/snowden-says-telegram-founders-arrest-is-an-assault-on-basic-human-rights-accuses-french-president-m" rel="noreferrer noopener">a violation of human rights</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40545254/mark-cuban-asks-elon-musk-to-share-source-code-of-algorithm-that-decides-reputation-relevancy-and-si" rel="noreferrer noopener">Mark Cuban Asks Elon Musk To Share Source Code Of Algorithm That Decides Reputation, Relevancy, And Similarity Criteria Of Posts On X</a>
Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)-owned&nbsp;Google&nbsp;Chrome&nbsp;has introduced a new feature for&nbsp;Android&nbsp;users. The update includes a subtle vibration that occurs <a target="_blank" href="https://www.benzinga.com/news/24/08/40568404/google-chrome-to-trigger-vibrations-on-your-smartphone-when-you-do-this" rel="noreferrer noopener">when users pull to refresh a page</a>.
Google&nbsp;has rolled out a new feature designed to accelerate email replies in Gmail for Android users, enhancing <a target="_blank" href="https://www.benzinga.com/news/24/08/40575951/google-now-lets-you-quickly-reply-to-emails-making-email-responses-as-easy-as-texting" rel="noreferrer noopener">productivity and communication efficiency</a>.
Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/08/40545146/telegram-founder-pavel-durovs-arrest-in-france-sparks-reactions-from-ethereum-creator-vita" rel="noreferrer noopener">Telegram Founder Pavel Durov&#8217;s Arrest In France Sparks Reactions From Ethereum Creator Vitalik Buterin And Tron Founder Justin Sun</a>
Artificial Intelligence (AI)
As the world of artificial intelligence continues to advance, several tech leaders, including&nbsp;OpenAI&nbsp;co-founder and CEO&nbsp;Sam Altman, and&nbsp;Geoffrey Hinton, one of the godfathers of AI, among others, have expressed concerns about the impact of this&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/08/40624456/dean-of-valuation-aswath-damodaran-shares-3-ways-to-beat-the-bot-and-safeguard-your-job-from-ai" rel="noreferrer noopener">bleeding-edge technology on jobs</a>.
In a recent development,&nbsp;Anthropic&nbsp;has announced updates to the default system prompts for text-based dialogues on its AI platform, Claude.ai, as well as the <a target="_blank" href="https://www.benzinga.com/news/24/08/40594722/google-amazon-backed-openai-rival-anthropic-releases-system-prompts-that-run-claude" rel="noreferrer noopener">Claude iOS and Android applications</a>.
Two former&nbsp;Open AI&nbsp;employees wrote to California's Governor&nbsp;Gavin Newsom&nbsp;last week expressing their disappointment at the company's arguments against SB 1047, a bill proposed in California to place safety protocols in the<a target="_blank" href="https://www.benzinga.com/news/24/08/40542601/former-openai-employees-slam-sam-altman-led-company-after-it-opposes-californias-ai-regulation-bill" rel="noreferrer noopener"> development of artificial intelligence</a>.
NVIDIA-backed Sustainable Metal Cloud has developed technology to cut energy consumption in artificial <a href="https://www.benzinga.com/news/24/08/40568877/nvidia-backed-sustainable-metal-cloud-introduces-tech-to-cut-ai-data-center-energy-use-by-50" target="_blank" rel="noreferrer noopener">intelligence data centers by up to 50%</a>.

AAPL

GOOG

MSFT

NCBDY

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Sony Group Corporation American Depositary Shares

SONY

Consumer Tech News (Aug 25-Aug 31): Canada Plans To Impose 100% Tariff On Chinese EV Imports, Amazon Launches AI-Powered Shopping Assistant

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 100 points on Friday.
Shares of Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) fell sharply in today's pre-market trading after the company reported weaker-than-expected results for its second quarter and cut its FY24 guidance.
Ulta Beauty reported quarterly earnings of $5.30 per share, which missed the analyst consensus estimate of $5.55 by 4.5%. Quarterly sales came in at $2.552 billion, missing the consensus estimate by 2.52%.
Ulta Beauty shares dipped 6.4% to $344.03 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Elastic N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) shares fell 27.1% to $75.60 in pre-market trading after the company reported first-quarter financial results and issued second-quarter revenue guidance below estimates.</li>
<li>Autozi Internet Technology (Global) Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZI#NASDAQ">AZI</a>) shares dipped 6.9% to $2.70 in pre-market trading after gaining over 10% on Thursday. Autozi Internet Technology (Global) announced the closing of initial public offering.</li>
<li>Himalaya Shipping Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSHP#NASDAQ">HSHP</a>) fell 3.5% to $7.49 in pre-market trading.</li>
<li>Dianthus Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNTH#NASDAQ">DNTH</a>) fell 2.3% to $28.10 in pre-market trading.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) declined 2.2% to $2.71 in pre-market trading after jumping 26% on Thursday.</li>
<li>Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) fell 2.2% to $4.38 in pre-market trading. Nokia shares gained 7% on Thursday following a report suggesting that Samsung has an interest in the company&#8217;s mobile networks assets.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/24/08/40641751/wall-streets-most-accurate-analysts-weigh-in-on-3-real-estate-stocks-with-over-7-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Real Estate Stocks With Over 7% Dividend Yields</a></li>
</ul>

Pre-Market Outlook

DNTH

EOSE

ESTC

HSHP

ULTA

Ulta Beauty Reports Downbeat Results, Joins Elastic And Other Big Stocks Moving Lower In Friday's Pre-Market Session

Nokia Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) shares are trading lower premarket Friday after the company denied reports of selling its mobile-networks business.
Earlier, citing people familiar with the matter, <a href="https://www.bloomberg.com/news/articles/2024-08-29/nokia-mobile-networks-assets-said-to-draw-interest-from-samsung">Bloomberg </a>reported that Nokia&#8217;s mobile networks assets are drawing preliminary interest from suitors, including Samsung Electronics Co., Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>).
The company disclosed that it has no <a target="_blank" href="https://www.nokia.com/about-us/news/releases/2024/08/29/nokia-comments-on-trading-activity-of-its-stock/" rel="noreferrer noopener">announcements</a> related to the speculations and that no insider project on the matter exists.
Nokia stated that it is dedicated to the success of its Mobile Networks business, viewing it as a crucial asset for both the company and its customers.
Nokia further added that this year, the business had made notable strides in optimizing costs while maintaining its product roadmap, securing new deals, and expanding its share with existing clients.
Today, in a separate release, Nokia announced that it is expanding its Fixed <a href="https://www.nokia.com/about-us/news/releases/2024/08/30/nokia-expands-its-rd-footprint-in-india-with-fixed-networks-largest-lab-in-chennai-tamil-nadu/" target="_blank" rel="noreferrer noopener">Networks</a> R&amp;D facility in Chennai, Tamil Nadu, with support from the state government. The new lab will be one of Nokia&#8217;s largest and will focus on advancing technologies to bridge the digital divide.
Vimalkumar Kothandaraman, Head of Fixed Networks for Asia Pacific at Nokia, said, &#8220;This investment highlights our dedication to India and global technology advancements, and allows us to further leverage the abundant talent pool in the region. This MoU solidifies our collaboration with the Tamil Nadu government to jointly drive telecom industry innovations, expanding our world-class R&amp;D hub in Chennai.&#8221;
In July, Nokia reported second-quarter 2024 net sales of $4.81 billion, missing the analyst <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39834407/nokias-q2-earnings-record-low-revenue-as-5g-investment-slows-annual-outlook-cut-stock-slides" rel="noreferrer noopener">consensus estimate of $5.24 billion</a>.
Sales hit a record low, mainly due to weak investment in mobile network upgrades affecting the 5G equipment market.
Investors can gain exposure to the stock via iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>) and Defiance Connective Technologies ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIXG#NASDAQ">SIXG</a>).
Price Action: NOK shares are down 2.46% at $4.37 premarket at the last check Friday.
Image: Nokia
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

SSNLF

What's Going On With Nokia Stock Premarket Friday?

Nokia States It Has Nothing To Announce Regarding Speculations Published In Today's Article

U.S. stocks were higher, with the Dow Jones index gaining around 400 points on Thursday.
Shares of Build-A-Bear Workshop, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBW#NYSE">BBW</a>) rose sharply during Thursday&#8217;s session following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/08/40624005/build-a-bear-workshops-q2-earnings-beat-sees-strong-improvement-in-q3-ytd-web-demand">second-quarter financial results.</a>
Build-A-Bear reported second-quarter revenue growth of 2.4% Y/Y to $111.8 million, beating the analyst consensus of $108.5 million. EPS of 64 cents (+12.3% Y/Y), beating the Wall Street view of 57 cents.
Build-A-Bear shares jumped 19.7% to $33.37 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) shares jumped 33.2% to $42.06 following strong fourth-quarter earnings and upbeat first-quarter guidance.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EOSE#NASDAQ">EOSE</a>) gained 22.2% to $2.6750 after the company announced it achieved first performance milestones related to Carberus Capital Management&#8217;s investment, allowing the company to draw an additional $30 million from the delayed draw term loan.</li>
<li>Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) gained 20.9% to $63.22 after the company reported better-than-expected fourth-quarter financial results and issued FY25 revenue guidance above estimates.</li>
<li>Eliem Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELYM#NASDAQ">ELYM</a>) jumped 20.1% to $7.45.</li>
<li>Iris Energy Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IREN#NASDAQ">IREN</a>) gained 19.6% to $8.89 after the company announced a year-over-year increase in FY24 Bitcoin mining revenue.</li>
<li>Polestar Automotive Holding UK PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) rose 15.7% to $1.0950 after the company reported a quarter-over-quarter increase in second-quarter deliveries.</li>
<li>Best Buy Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) gained 14.5% to $100.49 after the company reported better-than-expected quarterly financial results raised its FY25 earnings guidance.</li>
<li>iRhythm Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRTC#NASDAQ">IRTC</a>) rose 13.2% to $77.59. iRhythm Technologies expanded global reach with the launch of Zio&#xAE; Cardiac Arrhythmia Monitoring Service in Austria, the Netherlands, Switzerland, and Spain.</li>
<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) gained 12% to $48.75.</li>
<li>The Cooper Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COO#NYSE">COO</a>) rose 11.1% to $105.00 after the company reported better-than-expected third-quarter financial results and issued FY25 guidance above estimates. Also, Baird and Wells Fargo raised their respective price targets on the stock.</li>
<li>Kanzhun Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) gained 10.1% to $12.06 after the company announced it authorized an additional repurchase of $150 million of its shares in conjunction with its existing $200 million buyback.</li>
<li>Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) climbed 8.8% to $216.85 after the company reported better-than-expected second-quarter financial results and issued FY25 adjusted EPS guidance above estimates.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) rose 8.5% to $21.62. The company issued a notice to terminate its $250 million credit facility.</li>
<li>Stevanato Group S.p.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STVN#NYSE">STVN</a>) gained 8.3% to $21.94.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) rose 6.5% to $18.97 after B of A maintained a Buy rating on the stock and raised its price target from $30 to $31.</li>
<li>Canadian Imperial Bank of Commerce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CM#NYSE">CM</a>) gained 6% to $57.81 after the company reported better-than-expected quarterly financial results.</li>
<li>West Pharmaceutical Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WST#NYSE">WST</a>) rose 6% to $315.43.</li>
<li>Nokia Oyj (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) gained 5.8% to $4.4350 following a report suggesting that Samsung has an interest in the company&#8217;s mobile networks assets.</li>
<li>NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) gained 5.7% to $3.9127.</li>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) gained 5.6% to $132.39.</li>
</ul>
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<li><a href="https://www.benzinga.com/24/08/40624754/top-2-materials-stocks-that-are-ticking-portfolio-bombs">Top 2 Materials Stocks That Are Ticking Portfolio Bombs</a></li>
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Intraday Update

AFRM

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Build-A-Bear Workshop Posts Upbeat Earnings, Joins Affirm, Nutanix, Cooper Companies, Veeva Systems And Other Big Stocks Moving Higher On Thursday

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Nokia shares are trading higher following a report suggesting that Samsung has an interest in the company's mobile networks assets.

Nokia Does Not Comment On Market Rumors Or Speculation; Says Nokia Is Committed To The Success Of Its Mobile Networks Business, A Highly Strategic Asset For Both Nokia And Its Customers, Nokia's Mobile Networks Business Has Made Significant Progress This Year

Rumors

Reported Earlier: Nokia's Mobile Networks Assets Reportedly Attract Interest From Samsung

Nokia selected by CoreWeave to provide networking backbone behind hyperscale AI cloud

Infinera gains after HSR waiting period for Nokia sale expires

With the U.S. market facing a whirlwind of economic uncertainty and volatile Fed policies, seeking solace in international stocks could be a wise move. Diversifying with picks like Alibaba Group (BABA), Rio Tinto (RIO), and Nokia (NOK) might provide the stability and growth a portfolio needs amid the chaos. Read on… Investors are navigating significant economic uncertainty, fluctuating Federal Reserve policies, and the upcoming presidential election, all of which are contributing to heightened market volatility.
In light of the current economic backdrop in the United States, it may be prudent to consider diversifying into international stocks. Companies such as Alibaba Group Holding Limited (<a href="https://stocknews.com/stock/BABA/">BABA</a>), Rio Tinto Group (<a href="https://stocknews.com/stock/RIO/">RIO</a>), and Nokia Oyj (<a href="https://stocknews.com/stock/NOK/">NOK</a>) offer substantial growth potential and could provide a buffer against domestic market instability.
This year, political uncertainties are intertwining with immediate market volatility. Concerns about <a href="https://www.reuters.com/markets/us/us-election-is-just-one-risk-among-many-nervous-stock-market-2024-09-10/">a potentially weakening U.S. economy</a> and speculation on future Federal Reserve interest rate cuts have intensified. Recently, the S&amp;P 500 experienced its worst weekly percentage loss since March 2023 following a disappointing jobs report.
The market's downturn was driven by the <a href="https://edition.cnn.com/business/live-news/us-jobs-report-august-2024/index.html">August jobs report</a>, which revealed that U.S. employers hired fewer workers than expected. The U.S. economy added 142,000 jobs, which is below economists' expectations. The unemployment rate slightly decreased to 4.2% from 4.3%, as reported by the Bureau of Labor Statistics.
Matt Thompson, co-portfolio manager at Little Harbor Advisors, remarked, "This is an uncertain market. He added, "The market is essentially saying, we know risk is elevated, but ... we don't know what the problem is going to be."
Investors could remain cautious until after <a href="https://www.bbc.com/news/world-us-canada-67285325">the November election</a>. In the meantime, exploring international stocks with strong growth prospects might be a wise strategy to mitigate domestic market risks.
With this in mind, let's dive deeper into the fundamentals of the above-mentioned stocks in detail starting with #3.
Stock #3: Alibaba Group Holding Limited (<a href="https://stocknews.com/stock/BABA/">BABA</a>)
Based in Hangzhou, China, BABA offers technology infrastructure and marketing reach to help merchants, brands, and retailers connect with international users and customers. Its segments include China Commerce; International Commerce; Local Consumer Services; Cainiao; Cloud; Digital Media and Entertainment; Innovation Initiatives and Others.
On September 5, BABA partnered with Mastercard Incorporated (<a href="https://stocknews.com/stock/MA/">MA</a>) and Cardless to introduce <a href="https://finance.yahoo.com/news/alibaba-com-mastercard-team-launch-180000221.html">a co-branded credit card</a> that rewards businesses for cross-border and domestic purchases on Alibaba.com. The partnership would simplify shopping, boost customer loyalty, and strengthen BABA's global presence.
On the same day, BABA launched <a href="https://finance.yahoo.com/news/alibaba-com-unveils-game-changing-180000097.html">an AI-powered sourcing agent</a> alongside new financial and logistics solutions. These innovations help small and medium-sized businesses increase efficiency and streamline cross-border trade. By enhancing trade processes, BABA can attract more global businesses and accelerate its international growth.
For the fiscal 2025 first quarter that ended June 30, 2024, BABA's revenue increased 3.9% year-over-year to $33.47 billion. Its income from operations amounted to $4.95 billion. Plus, the company reported its adjusted EBITA at $6.20 billion for the quarter.
Moreover, non-GAAP net income and non-GAAP EPS came in at $5.60 billion and $0.28 for the quarter, respectively.
Analysts expect BABA's revenue for the fiscal year ending in March 2025 to increase 8.9% year-over-year to $141.66 billion. Its EPS for the ongoing fiscal year is expected to grow 2.2% year-over-year to $8.79.
Shares of BABA have gained 11.9% over the past three months and 18.5% over the past nine months to close the last trading session at $84.69.
BABA's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its positive outlook. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
BABA has a B grade for Momentum, Sentiment, and Quality. Out of 39 stocks in the B-rated <a href="https://stocknews.com/category/china/">China</a> industry, it is ranked #10.
To see BABA's Growth, Value, and Stability ratings, <a href="https://stocknews.com/stock/BABA/">click here</a>.
Stock #2: Rio Tinto Group (<a href="https://stocknews.com/stock/RIO/">RIO</a>)
Headquartered in London, the United Kingdom, RIO explores, mines, and processes mineral resources. The company operates across Iron Ore; Aluminium; Copper; and Minerals Segments. In addition, it manages open-pit and underground mines, refineries, smelters, processing plants, power facilities, and shipping operations.
On August 15, RIO partnered with the Queensland Government to strengthen the <a href="https://www.riotinto.com/en/news/releases/2024/queensland-government-and-rio-tinto-partnership-to-support-gladstones-boyne-smelters">heavy industrial manufacturing base</a> around Gladstone and boost renewable energy investments. The partnership secures the future of Boyne Smelters Limited, Australia's second-largest aluminum smelter, ensuring sustainability and long-term growth for RIO's operations.
On July 19, RIO marked a milestone by <a href="https://www.riotinto.com/en/news/releases/2024/rio-tinto-ships-4-billion-tonnes-of-iron-ore-to-china">shipping 4 billion tonnes of iron ore</a> from Western Australia's Pilbara to China, reinforcing its strong trade partnership. With half a century's worth of customer needs, China is RIO's largest customer, with approximately 250 million tonnes of iron ore shipped every year.
By keeping international shipments afloat, RIO's exports to various countries around the world would aid the company in gathering a larger customer base and turning the company into a top metal ore shipment company globally.
For six months of fiscal 2024 that ended on June 30, 2024, RIO reported consolidated sales revenue of $26.80 billion, indicating a marginal year-over-year increase. The company's <a href="https://www.investopedia.com/terms/o/operating_profit.asp">operating profit</a> for the same period rose 14% from the year-ago value to $8.26 billion.
In addition, profit after tax for the period and EPS came in at $5.89 billion and $3.56, up 19.1% and 13.3% year-over-year, respectively.
Street expects RIO's EPS for the fiscal year ending in December 2024 to increase marginally year-over-year to $7.28.
Shares of RIO have surged 3.9% over the past five days to close the last trading session at $62.55.
RIO's solid fundamentals are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
RIO has a B grade for Value, Quality, and Stability. It is ranked #3 out of 27 stocks in the <a href="https://stocknews.com/category/industrial-metals/">Industrial – Metals</a> industry.
In addition to the POWR Ratings we've stated above, we also have RIO ratings for Momentum, Sentiment, and Growth. Get all RIO ratings <a href="https://stocknews.com/stock/RIO/">here</a>.
Stock #1: Nokia Oyj (<a href="https://stocknews.com/stock/NOK/">NOK</a>)
Based in Espoo, Finland, NOK delivers mobile, fixed, and cloud network solutions globally. The company operates through four segments: Network Infrastructure; Mobile Networks; Cloud and Network Services; and Nokia Technologies. It also offers cloud and network services and licenses intellectual property, including patents and technologies.
On September 16, NOK partnered with NL-ix, an Internet Exchange provider, to <a href="https://www.nokia.com/about-us/news/releases/2024/09/16/nokia-and-nl-ix-deploy-deepfield-for-the-largest-ixp-based-anti-ddos-protection-for-enterprises-across-europe/">deploy Nokia Deepfield Defender</a> across NL-ix's network. The deployment represents the largest anti-DDoS solution for an Internet Exchange Point (IXP) in Europe, enhancing protection for customers against DDoS attacks and reinforcing NOK's commitment to network security.
On September 3, NOK <a href="https://www.nokia.com/about-us/news/releases/2024/09/03/nokia-signs-strategic-deal-with-att-to-accelerate-future-ready-fiber-broadband-growth/">signed a multi-year agreement</a> with AT&amp;T Inc. (<a href="https://stocknews.com/stock/T/">T</a>), a leading provider of telecommunications and technology services, to deploy next-generation fiber access technology.
NOK will supply its Lightspan MF and Altiplano platforms to support one of the world's largest fiber networks. The collaboration would advance NOK's mission to connect more people and businesses, offering a range of PON technologies, from 10/25G to future 50/100G PON, on a unified platform.
For the fiscal 2024 second quarter that ended on June 30, 2024, NOK's net sales came in at EUR 4.47 billion ($4.95 billion). Its gross profit and operating profit were reported to be EUR 1.94 billion ($2.14 billion) and EUR 432 million ($478.47 million), respectively. Plus, as of June 30, 2024, NOK's total assets stood at EUR 38.86 billion ($43.04 billion).
The consensus revenue estimate of $5.31 billion for the fiscal third quarter (ending September 2024) represents a marginal increase year-over-year. The consensus EPS estimate of $0.07 for the current quarter indicates a 40.5% growth year-over-year.
Shares of NOK have gained 13.2% over the past three months and 29.2% over the past nine months to close the last trading session at $4.20.
It's no surprise that NOK has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
NOK has a B grade for Value and Sentiment. Within the <a href="https://stocknews.com/category/technology-communication-networking/">Technology – Communication/Networking</a> industry, it is ranked #2 out of 47 stocks.
Beyond what we stated above, we also have given NOK grades for Growth, Momentum, Stability, and Quality. Get all the NOK ratings <a href="https://stocknews.com/stock/NOK/">here</a>.
What To Do Next?
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BABA shares fell $0.77 (-0.91%) in premarket trading Monday. Year-to-date, BABA has gained 10.59%, versus a 18.89% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/baba-rio-nok-ma-t-3-global-stocks-to-buy-for-international-exposure-and-growth/>3 Global Stocks to Buy for International Exposure and Growth</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Global Stocks to Buy for International Exposure and Growth

Goldman Sachs analyst Alexander Duval maintained a Hold rating on Nokia (0HAF – Research Report) today and set a price target of €3.30. The company...

Goldman Sachs Sticks to Their Hold Rating for Nokia (0HAF)

Nokia announces strategic partnership with iSAT Africa to enhance rural connectivity in Liberia

Barclays analyst Joseph Zhou maintained a Sell rating on Nokia (0HAF – Research Report) today. The company's shares closed yesterday at €3.78. Acco...

New Sell Rating for Nokia (0HAF), the Technology Giant

T-Mobile's AI Efforts Make 5G Interesting Again

Nokia's video tech used by Amazon without license, German court rules - Reuters

Deals this week: Smartsheet, AT&T, BP, Cleveland-Cliffs, Vistra and more

Nokia partners with Zain Iraq to boost network capacity with advanced microwave technology

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Opinion

Press Releases

Thinking about buying stock in ChargePoint Holdings, Fusion Pharmaceuticals, Nokia, MicroAlgo Inc, or Lululemon Athletica?

Thinking about buying stock in Ibio Inc, Nokia, C4 Therapeutics, 1847 Holdings, or CleanSpark?

Dell Technologies and Nokia Announce Strategic Partnership to Advance Network Cloud Transformation and Private 5G

Wipro and Nokia Launch Joint 5G Private Wireless Solution to Speed up Enterprise Digital Transformation

Inside Information: Nokia to acquire Infinera to increase scale in Optical Networks and accelerate product roadmap

INFINERA INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Infinera Corporation - INFN

Berry and Glatfelter Announce Magnera Board of Director Appointments in Connection With Proposed Merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films Business With Glatfelter

INFINERA INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Infinera Corporation - INFN

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Nokia (NOK) Forecast

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