Tellabs shrs jump on report of Nokia Siemens offer

(Reuters) - HELSINKI/NEW YORK, July 23 - Shares of Tellabs Inc. surged 19 percent on Monday after a financial news Web site reported the U.S. telecommunications equipment maker was entertaining a $7 billion bid by a joint venture of Nokia Oyj and Siemens AG .



TheStreet.com said Nokia Siemens Networks [NSN.UL] was offering about $16 to $17 a share for Tellabs, citing a source familiar with the deal.


Read more at Reuters.com Mergers News

Most U.S. Stocks Fall on Concern About Losses in Mortgage Securities

(Bloomberg) -- Most U.S. stocks fell for a second
day on concern the paralysis of two Bear Stearns Cos. hedge
funds may spark losses in mortgage securities.

Citigroup Inc., American International Group Inc. and
Merrill Lynch & Co. led declines. Nokia Oyj, the biggest mobile-
phone maker, slipped after an analyst cut his recommendation on
the shares.


Read more at Bloomberg Stocks News

U.S. Stock Futures Fall on Rising Oil, Mortgage Concern; Citigroup Slips

(Bloomberg) -- U.S. stock-index futures fell after
oil approached $70 a barrel and concern spread that losses in
mortgage securities will reduce profits at financial firms.

Citigroup Inc., American International Group Inc. and
JPMorgan Chase & Co. declined in Europe. Home Depot Inc., the
largest home-improvement chain, and Nokia Oyj, the biggest
mobile-phone maker, slipped after analysts cut their
recommendations on the shares.


Read more at Bloomberg Stocks News

Nokia says row with Qualcomm may hurt 3G uptake

(Reuters) - Nokia, which makes more than one in three of the cell phones sold globally, is mired in a legal dispute over patents with U.S. mobile phone chip maker Qualcomm Inc. after part of a major cross-licensing agreement expired last month.




The legal dispute centers on Nokia's use of Qualcomm patents for 3G, but it also has a bearing on Qualcomm's chips business, which according to Nokia uses many Nokia-patented technologies.


Read more at Reuters.com Business News