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Handset stocks mostly up after bailout vote



By AP
03 October 2008 @ 02:06 pm EST

NEW YORK - Shares of handset makers mostly rose Friday as the overall market rose after Congress approved a $700 billion government bailout bill meant to help the distressed financial industry.

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Quotes
NOK 12.93 0.58
MOT 3.28 0.13
RIMM 44.8 3.28
PALM 2.24 0.45
AAPL 82.58 2.09

SYMBOL LOOKUP

The House voted 263-171 to approve the bill, and sent it to President Bush for his signature.

American Depositary shares of world's largest maker of cell phones, Nokia Corp., rose 78 cents, or 4.5 percent, to $18.28 in afternoon trading.

Shares of rival Motorola Inc. rose 14 cents to $6.92.

Meanwhile, shares of BlackBerry maker Research In Motion Ltd. rose $1.91, or 3.1 percent, to $63.91 and shares of Treo maker Palm Inc. fell 32 cents, or 5.1 percent, to $5.99.

Elsewhere in the sector, iPhone maker Apple Inc.'s stock rose $1.14 to $101.24. Earlier in the day, the shares traded as low as $94.65--their cheapest since April 2007, when they traded as low as $89.60.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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