Nokia's stock plunges on heavy volume after surprise loss [MarketWatch]
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Source: MarketWatch
Nokia's stock plunges on heavy volume after surprise loss The U.S.-listed shares of Nokia Corp. NOK, -9.33% plunged 9.9% toward a 6 1/2-month low in very active morning trade Thursday, after the Finland-based telecommunications giant reported a surprise first-quarter adjusted loss, citing increased competitive intensity in the early stages of 5G. Trading volume swelled to 34.9 million shares, enough to make it the most actively traded stock on major U.S. exchanges, and already above the full-day average of 23.3 million shares. Nokia reported overnight a net loss of EUR442 million ($492.5 million), or 8 cents a share, after a loss of EUR354 million, or 6 cents a share, in the year-ago period. Excluding non-recurring items, the adjusted per-share loss (euro) was 2 cents, compared with the FactSet consensus of a profit of 3 cents. Revenue rose 2% to EUR5.03 billion, above the FactSet consensus of EUR5.01 billion. Nokia's stock has lost 21% over the past three months, while the SPDR Co
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