Juniper Networks Shares Surge 5%

    Author Samara MalkinPosted on Categories Communications, Tech, Technology, TelecommunicationsTags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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    Late Wednesday, Juniper Networks (NYSE:JNPR) stock rose as reports that Finland’s Nokia (NYSE:NOK) was in discussions to buy the maker of computer networking gear.

    Juniper shares rose over 5% to 29.61 in regular sessions on Wednesday but catapulted up to 18% to 35.19 in after-hours trading.

    The two companies have a U.S partnership and a few years ago there were rumors that Nokia was going to buy out Juniper but Nokia eventually never made the offer.

    In October of this year, Juniper’s stocks fell as they released their third-quarter earnings that were well below estimates. Since then, the company has been rebounding since hitting a low of 24.56 on October 25th.

    Juniper has been pursuing a turnaround since the appointing of the new CEO, Rami Rahim. Their main aim has been selling more networking equipment to the major cloud-computing providers such as Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN).

    When Apple (NASDAQ:AAPL) released their iPhones, Nokia’s once-booming smartphone business crumbled. Their plans are aimed at bouncing back when wireless phone companies begin to present 5G services that use the cloud-computing infrastructure.

    Featured Image: depositphotos/alexeynovikov

    Author Samara Malkin
    About the author: Samara graduated from Simon Fraser University with a BA in English, minoring in Publishing and Creative Writing. One day she hopes to publish her very own novel, but in the meantime, she contents herself with blogging and editing. She currently specializes in writing financial news and analysis, as well as cryptocurrency news and information.