Nokia Corporation (ADR)(NYSE:NOK) was another stock which had solid volume with the stock closed higher by 5.58% to $2.65 on over 56.28 million shares. The stock had started the year very poorly and the stock slumped 72% in the first half of the year with hitting 15-year low of $1.63. However, some investors started finding value in the stock, which had been pushing the stock higher with a gain of 60% in the past three weeks from its near term low.
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The company is rumored to launch new Windows Phone 8 handsets in coming few weeks. However, at the same time, market experts suggest that it would again be tough task for the company with the new phone in pipeline as the industry’s leader Apple Inc.(NASDAQ:AAPL) may unveil its iPhone 5.
MGM Resorts International(NYSE:MGM) shares had an interesting session as the shares of casino operators jumped despite the company posted much higher than estimated second-quarter loss, but revenue topped analysts’ forecast thanks to impressive response from China and higher revenue for hotel rooms.
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The company posted net loss of $145.5 million, or 30 cents per share, reversing a year ago profit of $3.44 billion, or $6.22 a share. Revenue came in at $2.32 billion, up 29% year over year from $1.81 billion last year. Analysts were estimating the company to report a loss of 15 cents per share on revenue of $2.35 billion. MGM China revenue rose 6 percent, driven by higher traffic at its main floor table games and slots.
Shares of the MGM rose 7.46% to $10.08.
NII Holdings, Inc.(NASDAQ:NIHD) shares slumped to new lows on Tuesday and ended lower by 24.38% to $6.11, off its nine - year low of $5.65 as the company trimmed its revenue outlook by about $1 billion as the company posted unexpected quarterly loss.
The company said that it lost $103.5 million, or 60 cents per share, reversing a year ago profit of f $122.7 million, or 71 cents per share, while analysts were estimating earnings of 6 cents per share. Revenue came in at $1.5 billion, down 15% year over, again missing analysts’ target of $1.56 billion.
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For the full year, the company now expects to generate revenue of $6.1 billion with subscribers additions now seen at 1 million from its prior view of 1.4 million.