Nokia Corporation (NYSE:NOK)’s group of former employees has raised €200M or $258M from a selection of telecommunications-industry players to launch a new mobile operating platform based on surplus Nokia technology, and the group will release a new phone next month.
Finnish business Jolla Ltd., made an impression this year when it declared its aim to use Nokia’s MeeGo operating system as the basis for a new line of mobile devices. Nokia discarded the system the previous year in favor of using Microsoft Corp (NASDAQ:MSFT)’s Windows system, but gave Jolla and other firms access to the technology.
Here is some other eye catching news:
Express, Inc. (NYSE:EXPR), young-adult fashion retailer, declared on Tuesday its earnings in the latest quarter will plunge well short of an already-downbeat August outlook due to an abrupt change in traffic the previous month.
Healthcares firms ArQule, Inc. (NASDAQ:ARQL) and Daiichi Sankyo Co. (DSNKY) reported that they will discontinue their Phase 3 clinical examination on a drug to treat non-small-cell lung cancer, following an independent committee stating the study wouldn’t meet its primary objectives of better overall survival.
Cell Therapeutics Inc (NASDAQ:CTIC) unveiled on Tuesday that its drug Opaxio has been given orphan-drug designation by the U.S. Food and Drug Administration for the handling of a malignant brain cancer. Orphan-drug designation is approved by the FDA to novel drugs that seek to treat an uncommon disease or condition.
Nokia Corporation (ADR) (NYSE:NOK)’s stock in the last session held volume of 55.48 million shares as compared to its average volume of 67.45 million shares. The stock, after opening at $2.78, hit the high price of $2.81 and then closed at $2.62 by decreasing -5.07%.
NOK generated revenue of $43.56 billion in the previous twelve months and has income of $-4473.28 million. The Company showed a negative -12.77% in the net profit margin and its operating margin remained -9.42%. NOK’s annual sales growth for the past five years was -1.23%.