Nokia Shares Extend Losses After Analysts Cut Ratings, Estimates
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Nokia Oyj, the world’s biggest maker of mobile phones, extended its losses in Helsinki trading after analysts lowered their price estimates and stock ratings.
Nokia declined as much as 4.4 percent and was down 4 percent at 6.72 euros as of 2:12 p.m., bringing its losses to 18 percent since Chief Executive Officer Stephen Elop’s Feb. 11 strategy presentation and paring the Espoo, Finland-based company’s market value to 25.1 billion euros ($34 billion).