Nokia stock was downgraded to “underweight” rating from “overweight” rating at JP Morgan and to “underweight” rating from “neutral” rating at HSBC Securities. REUTERS

Shares of Nokia Corp. (NYSE: NOK) are moving higher Monday on speculation that the mobile phone maker will soon engineer a major reshuffling of its management and board as the company tries to wrestle back domination of the premium handset market.

Nokia shares are up about 1.58 percent as of 12:58 p.m. (EDT).

The Wall Street Journal reported over the weekend new CEO Stephen Elop (who took over last fall) seeks to change the company’s strategy and this will include the exit of several senior managers.

Nokia is expected to announce a new strategy at a briefing on Feb. 11 briefing.