Wall Street PR

Completive Move; Nokia (NYSE:NOK) Acquires Earthmine for 3-D Map – NOK, JDSU, QCOM, CMVT, CIEN

The struggling Finnish smartphone maker Nokia Corporation (NYSE:NOK), is purchasing 3-D map-technology maker Earthmine Inc. and restoring its mapping tools under a new brand name to win back customers from competitors like Apple Inc. (NASDAQ:AAPL)

The Earthmine acquisition will help Nokia enlarge in mapping, a growing business it believes key to driving smartphone sales and becoming profitable another time. The firm released here, the brand for its location services and website, at an event in San Francisco yesterday, and declared that it has made a mapping app for Apple’s mobile devices. It will also create its map technology open to developers utilizing Google Inc. (NASDAQ:GOOG)’s Android operating system.

Shares of Nokia Corporation (ADR) (NYSE:NOK) opened at $2.78 with 3.83 Billion outstanding shares and touch its highest price of $2.79 of the day and then finished at $2.67 by scoring -0.74%, as in the whole session stocks gain volume of 35.93 million shares which is lower than its average volume.

As the owner ship concerns stock institutional ownership remained 10.80%. The share capital of NOK has 3.83 billion outstanding shares amid them 3.79 billion shares have been floated in market.

For investors focus on the performance of the stocks so the NOK showed weekly ahead performance of 1.14% which was maintained for the month at 4.30%. Correspondingly the positive performance for the quarter was remained 7.23% and if took notice on yearly performance that was -57.28% whereas the year to date performance halted at -40.13%.

As the moving toward the returns measures returns on Investment ratio is significant measure which investor should have in consideration, the NOK return on investment was recorded as -33.61% as compare to its rivals has JDS Uniphase Corp (NASDAQ:JDSU)’s ROI -4.47%, QUALCOMM, Inc. (NASDAQ:QCOM)’s ROI 27.63%, Comverse Technology, Inc. (NASDAQ:CMVT)’s ROI 1.15%, Ciena Corporation (NASDAQ:CIEN)’s ROI -9.35%.

Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.