Nokia Stock Rises Pre-Market On Multi-Year Deal Expansion With AT&T To Upgrade Network: Retail Stays Extremely Bullish

Shares of Nokia Corp. (NOK) rose 1.5% in pre-market trade on Tuesday after the company expanded its multi-year deal with AT&T Inc. (T) to upgrade its network.

AT&T will leverage Nokia’s 5G IP multimedia system (IMS) and digital operations software to improve its deployment times and drive operational efficiencies.

Noting the deal terms, Nokia said AT&T will update the telecom company’s IMS core to include Voice over New Radio (VoNR), which allows users to use voice services over high-speed 5G networks.

AT&T will use Nokia’s cloud platform to scale its services dynamically, improving its turnaround times and saving costs.

“We are pleased to continue our relationship with Nokia to further optimize our network operations and enable new services that better support our customers’ evolving needs,” said Yigal Elbaz, Senior Vice President, Technology & Network Services at AT&T.

Nokia’s expansion of the AT&T deal comes a day after the Finnish networking giant bagged a contract to upgrade New York’s largest internet exchange backbone.

Retail sentiment on Stocktwits around the Nokia stock remained in the ‘extremely bullish’ (84/100) territory while message volume was in the ‘extremely high’ zone at the time of writing.

Nokia’s share price has surged nearly 24% over the past six months, while its one-year gains stand at almost 30%.

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