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Why Nokia Stock Just Flopped
Shares of onetime cellphone giant now turned telecommunications infrastructure company Nokia (NYSE: NOK) plunged after it reported an earnings miss this morning. Analysts had forecast Nokia would earn “comparable” operating profits of 690.6 million euros ($676 million) in its fiscal third-quarter report, but Nokia reported a comparable operating profit of only 658 million euros. As of 12:35 p.m. ET, Nokia stock is down 7.8%.
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