Infinera Corporation (INFN)
Pre-market:
| Previous close | 5.18 |
| Open | 5.20 |
| Bid | 5.22 x 600 |
| Ask | 5.29 x 300 |
| Day's range | 5.12 - 5.29 |
| 52-week range | 2.82 - 6.62 |
| Volume | |
| Avg. volume | 2,870,641 |
| Market cap | 1.232B |
| Beta (5Y monthly) | 1.57 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -0.34 |
| Earnings date | 07 Aug 2024 - 12 Aug 2024 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | N/A |
| 1y target est | 7.27 |
Barrons.comThese Stocks Are Moving the Most Today: Nike, Walgreens, Super Micro, Infinera, Trump Media, Accolade, and More
Nike stock tumbles after the athletic apparel company says it expects first-quarter sales to fall 10%, Walgreens trades lower following a slump of 22%, and Infinera shares jump after Nokia reaches an agreement to buy the maker of optical telecom equipment for $2.3 billion.
ReutersNokia taps AI boom with $2.3 billion Infinera purchase
Nokia's bid to buy US optical networking gear maker Infinera in a $2.3 billion deal puts the Finnish company on track to gain from the billions of dollars in investment pouring into data centres to cater to the rise of artificial intelligence. The deal would help Nokia to leapfrog Ciena and become the second largest vendor in the optical networking market with a 20% share, behind Huawei, which is benefiting from the minimal presence of Western companies in China. Nokia's move will allow the company to sell more equipment to big tech companies such as Amazon, Alphabet and Microsoft as they invest billions of dollars in building new data centres to service the artificial intelligence boom.
BloombergNokia Bets on AI Data Center Boom in $2.3 Billion Infinera Deal
(Bloomberg) -- Nokia Oyj has agreed to buy Infinera Corp. in a $2.3 billion deal that will expand the company’s networking products for data centers and increase its presence in the US, a potentially key source of growth as the boom in artificial intelligence drives demand for server capacity. Most Read from BloombergBiden’s Disastrous Debate Accelerates Doubts Over CandidacyBiden Struggles as He Spars With Trump on Economy: Debate TakeawaysBiden Struggles Against Trump in High-Stakes 2024 Debat
