This morning, Nokia Corporation (ADR) (NYSE:NOK)
stock increased 0.38% to $2.63 as Nokia is seeking to sell its headquarters in
Espoo, Finland as part of a drive to dispose of non-core assets. The glass and
steel building by the Baltic Sea is valued at 200-EUR300 million ($259-388
million), according to a report by Finnish newspaper Iltasanomat. But,
the company says it will maintain its corporate base in the country. The latest
move is due to cost control measure.
Will
NOK Bounce Back After The recent Slump? Find Out Here
Spokeswoman Maija Taimi says selling the glass and
steel structure known as "Nokia House" near Helsinki is one of the
options the struggling cellphone maker is considering as it disposes of noncore
real estate holdings. She says the company though had "no plans to move
out of Finland."
In other news, recently Nokia Siemens, a joint
venture between Nokia Oyj and Siemens AG, has completed the divestment of IPTV
assets to Belgacom SA. The divestment is part of Nokia Siemens' focus on mobile
broadband and services. A total of 23 employees is to be taken over by
Belgacom.
PROLOR Biotech Inc(NYSEAMEX:PBTH) shares gained 4.74%
to $5.30 in the morning hour after the company announced that it has received a
notice of allowance from the U.S. Patent and Trademark Office (USPTO) for a new
patent application covering the company's long-acting CTP-enhanced human growth
hormone (hGH-CTP).
Upon issuance, the new patent would provide PROLOR
with additional intellectual property protection covering methods for the
induction of growth in growth hormone deficient patients.
Ocwen Financial Corporation(NYSE:OCN) stock jumped
13.85% to $33.06 after OCN and private equity firm WL Ross & Co. LLC
announced that they have entered into an agreement whereby Ocwen will acquire
Homeward Residential Holdings, Inc., including its various residential mortgage
loan servicing and origination operating subsidiaries, for approximately $588
million in cash and $162 million in Ocwen convertible preferred stock.
Additionally, Zacks restated their neutral rating on
shares of Ocwen Financial in a report issued last week. They currently have a
$29.00 target price on the stock.
Royale Energy, Inc.(NASDAQ:ROYL) stock increased
4.44% to $4 after the company announced today that it will resume drilling
operations at its Sacramento Basin Natural Gas field where the company has
drilled 20 producing wells. Permits have been filed and approval is expected by
October 17, 2012 for the Garnet and Dorset prospects in Colusa County,
California where Royale drilled its successful Goddard wells.
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