Nokia Corp. (NYSE: NOK) continued a two-day surge, up another 9% today on rumors China-based PC firm Lenovo will buy it. Lenovo has said the rumor is “a joke.” Nokia continues to stumble in the smartphone market in which it has been hammered by Apple Inc. (NASDAQ: AAPL) and Samsung Electronics. A partnership with Microsoft Corp. (NASDAQ: MSFT) to put Windows mobile in Nokia phones has not helped. Nokia fell behind Samsung as the world’s largest handset company early this year.

Frontier Communications Corp. (NASDAQ: FTR) rose by as much as 11% as it beat Wall St. estimates by $0.02.

Silicon Image Inc. (NASDAQ: SIMG) rose 28% on new that it beat by $0.02 and revised forecasts upward.

China Cord Blood Corp. (NYSE: CO) rose 16% as it bought back 2.2 million shares.

Digital River Inc. (NASDAQ: DRIV) fell 25% on news that its forecasts for upcoming quarters was weaker than expected.

Suntech Power Holdings Co. (NYSE: STP) was down 16% as Wall St. raised concerns that firm cannot remain solvent just after it announced it had been the victim of a massive fraud.

Douglas A. McIntyre

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