Market Reacts to Microsoft’s Nokia Deal and 3 More Hot Stocks
Nokia Corp. (NYSE:NOK): Shares of Nokia are racing over 35 percent on the news that Microsoft (NASDAQ:MSFT) will be purchasing its mobile devices unit for $7.2 billion. While Nokia investors are thrilled, Microsoft’s sell side is less enthusiastic. Some believe the price tag was too high, and others are contending that Nokia CEO Stephen Elop is now the frontrunner as Steve Ballmer’s replacement. Roughly 32,000 Nokia employees will be joining Microsoft; Elop has resigned as CEO of the Finnish company to avoid any potential conflicts of interest.