Slight Bump in Stock Prices as Greek Bailout Deal Nears Completion (NOK, S)
Major indices saw a slight increase today, as there appeared to be tangible process in getting a Greek debt bailout deal approve in Europe. In corporate news, Nokia's (NOK) troubles continue, as they announced that they would be laying off 4,000 workers in three of their factories. The mobile phone maker has recently pinned its hopes on Microsoft's (MSFT) Windows Phone operating system, and will be making a major US release in the near future. Sprint (S), another troubled company in the mobile space, announced over $1 billion in losses last quarter.They did see substantial subscriber growth; however, the deal they made with Apple (AAPL) in order to secure the iPhone on their network was extremely costly.
Word on the Street
- Greece is getting close to agreeing on a bailout package.
- Student debt is a ticking time bomb.
- Brent crude oil futures were up today, the seventh day in a row that they have risen.
- Nokia (NOK) will be cutting 4,000 jobs.
- Sprint (S) took a $1.3 billion loss last quarter.
- Toyota (TM) will be moving some of its hybrid car production to the US.
Published on Feb 8, 2012By InvestorGuide Staff