Why Nokia Stock Popped on Wednesday

Nokia (NYSE: NOK) stock climbed 4% through 1:05 p.m. ET Wednesday after the Finnish telecom equipment giant announced that the city of Superior, Wisconsin, has picked Nokia to build a "next-generation ... wholesale open-access fiber network which ISPs [internet service providers] can use to deliver broadband services."

Image source: Getty Images.

To be precise, Nokia has been tapped to "provide its fiber and IP [internet protocol] solutions as part of ConnectSuperior," which is the name of the new fiber network designed to bring broadband internet access to "26,000 currently underserved residents." According to Nokia, other participants include "dMCA/LightSpeed" (apparently, privately owned telecommunications systems integrator Lightspeed Technologies) and small-cap information technology firm ePlus (NASDAQ: PLUS).

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Source Fool.com