Infinera Stock Surges on Nokia Buyout Deal

Infinera Corp (NASDAQ:INFN) stock is surging today, up 17.2% to trade at $6.17 at last glance, after news that Nokia (NOK) plans to buy the company for $2.3 billion. Both Stifel and Needham downgraded INFN to "hold" from "buy," with the latter noting there were no other likely bidders for Infinera given its lack of "healthy adjacent networking peers." Today's pop has INFN looking to snap a three-week losing streak and notch a third-straight daily win, as the stock gaps to its highest level since early April ...