HELSINKI--The U.S. investment firm Dodge & Cox has increased its stake in the embattled Finnish telecom equipment and device maker Nokia Corp. (NOK) to 8.4% of all outstanding shares, investment research company Morningstar Inc. (MORN) said on its Finnish language website Wednesday.
Morningstar says San Francisco-based Dodge & Cox increased its holding in Nokia by 63 million shares during the second quarter to a total of 314 million shares at the end of June.
At the end of March Dodge & Cox owned 251 million Nokia shares, or 6.8% of all 3.74 billion outstanding shares.
Exact information on the distribution of Nokia's ownership isn't publicly available, and Morningstar's report is based on fund reports released by Dodge & Cox.
Nokia will publish its June quarter earnings report on July 18. The company is expected to have narrowed its quarterly net loss markedly from the net loss of EUR1.4 billion in the year earlier period.
The price of Nokia's shares has risen by 23% since the beginning of April this year. At 1108 GMT, Nokia shares were up 0.13% at EUR3.09.
I think NOK will pass $5. Too many call options @ $4.50 & $5. Thats too many for a company that everyone knows will miss earnings.
Somebody knows something.
I think they will pass $5 on the news they took black berrys market share... That combined with what they already have & some buyout rumors immediatly after..I think this can fly past $5..
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