TeliaSonera AB rose the most in more than five months in Stockholm trading after SEB AB recommended buying the stock, saying strategy by new managers at Sweden’s largest phone company may help earnings and cash flow.
Nokia Oyj rose as much as 5.2 percent in Helsinki trading after the Wall Street Journal reported the world’s biggest maker of mobile phones is looking to replace Chief Executive Officer Olli-Pekka Kallasvuo .
Nokia Oyj ’s second-quarter profit plunged on competition from Apple Inc.’s iPhone. Chief Executive Officer Olli-Pekka Kallasvuo said a new device from the world’s largest mobile-phone maker will “kick-start” its comeback.
Nokia Oyj replaced Chief Executive Officer Olli-Pekka Kallasvuo last year after the stock sank 55 percent during his four-year tenure. Successor Stephen Elop has presided over a 37 percent loss in just eight months.
Nokia Oyj , the world’s biggest maker of mobile phones, has a lot riding on its annual showcase event next week as it tries to claw back ground lost to Apple Inc. ’s iPhone and devices based on Google Inc.’s Android software.
Nokia Oyj, the world’s biggest maker of mobile phones, plunged more than 14 percent after posting a lower-than-estimated profit on competition from Apple Inc.’s iPhone, and cutting its margin forecast.
Nokia Oyj’s board has stayed in the background as the company’s shares plummeted 67 percent in the three years since Apple Inc. started selling the iPhone. Pressure has been building on directors to act.