Nokia shares are trading higher after falling Thursday on worse-than-expected Q3 results. It was also reported the company will cut jobs in China and Europe.
Portfolio Pulse from Benzinga Newsdesk
Nokia shares are rebounding after a decline due to disappointing Q3 results. The company plans to cut jobs in China and Europe.
October 18, 2024 | 4:11 pm
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Nokia shares are recovering after a decline caused by worse-than-expected Q3 results. The company is also planning job cuts in China and Europe, which may impact its operational costs and future performance.
The initial drop in Nokia's stock was due to disappointing Q3 results, but the current rebound suggests investor confidence is returning. The job cuts could reduce costs, potentially improving future earnings, which is likely contributing to the positive stock movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100