Nokia Corp. (NOK: Quote) is up more than 2 percent to $2.41, signaling that it may recoup some of its yesterday's losses. Moody's has downgraded the long-term senior unsecured ratings of Nokia to Ba1 from Baa3 and its short-term senior unsecured ratings to Not-Prime from Prime-3. Moody's noted that this rating action reflects its view that Nokia's far-reaching restructuring plan delineates a scale of earnings pressure and cash consumption that is larger than it had previously assumed.
Microsoft Corp. (MSFT: Quote) is up 0.27 percent to $29.42. The company has reportedly agreed to buy business software firm Yammer Inc. for $1.2 billion. Yammer, which was started in September 2008, creates private social networks inside companies.
Starbucks Corp. (SBUX: Quote) is down 0.60 percent to $52.02.
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by RTT Staff Writer
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