Nokia Corporation (NYSE: NOK) has managed to hold up rather well considering that a federal appeals court allowed an InterDigital Inc. (NASDAQ: IDCC) patent case to be revived against Nokia. The court of appeals apparently voted 2 to 1 to reverse a finding from the International Trade Commission (the ITC) that Nokia had not infringed on wireless technology patents held by InterDigital. The news is based on a summary that the ITC misconstrued two InterDigital patents and it is sending the case back to the ITC.
What is interesting is not just that InterDigital shares are up over 13% on a 5-times volume spike of more than 4 million shares as of 1:40 PM. What is perhaps more interesting is that the down and out Nokia Corporation (NYSE: NOK) is still up on the day with a gain of 2% to $2.47. Shares had been as high as $2.71 earlier so the news did not come without any liability.
This only brings up yet one more uncertainty around Nokia, but so far the shares are not trading as though a total disaster has arrived if you just smooth out the trading day.
JON C. OGG
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