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The Dow Now: Nokia Experiences Slight Uptick


Today's top gainers so far include RTI International Metals and Resolute Forest Products.

MINYANVILLE ORIGINAL The Dow Jones Industrial Average (^DJI) is trading up 40.30 points (0.29%) at 13,045.91 as of Wednesday, August 1, 12:14 p.m. EDT. In terms of volume, 62.91 million shares of the 30 Dow components have changed hands.

Nokia (NOK) tops the list of most actively traded stocks on the Dow so far today, with investors having traded 122.83 million shares of the communications giant. The stock is trading currently at $2.57, up $0.15, or 6.43%, as of 12:12 p.m. EDT.

Nokia is experiencing a slight increase after the Wall Street Journal reported that Nokia CEO Stephen Elop and a few of its directors have bought more than one million shares of Nokia common stock in the past week, which is an indication that they are confident the company will rebound when Microsoft's (MSFT) Windows Phone 8 drops later this year.

The top gainers of the New York Stock Exchange in intraday trading include RTI International Metals (RTI) (+14.97%) and Resolute Forest Products (RFP) (+18.74%). RTI issued a guidance update, saying it expects operating income for fiscal 2012 to come in at the higher end of the previous guidance range of $45.0 million to $50.0 million, after purchase accounting adjustments.

Resolute Forest Products had reported consensus-beating second quarter earnings of $0.30 per share, better than the $0.06 forecast. Total revenue for the quarter came in at $1.17 billion compared to the $1.2 billion forecast of analysts.

Top losers so far include Phoenix Companies (PNX) (-15.64%) and Con-way (CNW) (-15.16%). The former reported second quarter earnings of $0.07, which is $0.03 lower than the consensus estimate of $0.10. Quarterly revenue, at $451.5 million, did exceed the consensus estimate of $251.97 million.

Con-way, a transportation company, recorded a second quarter profits miss at $0.66 per share, up from $0.50 per share a year ago, but below the $0.69 forecast. Revenue, up 7.2% to $1.45 billion, met the consensus expectation.

Twitter: @sterlingwong
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