Nokia, Groupon, Apple, Zynga: Tech Premarket
NEW YORK (TheStreet) -- Shares of Nokia(NOK) fell 2.6% to $3.75 in premarket trading on Monday after Oppenheimer urged investors to approach the handset maker with caution.
"We believe investors should step to the sidelines ahead of what is going to be a challenging and telling 1H13," wrote Oppenheimer analyst Ittai Kidron, in a note released on Monday.
Nonetheless, Oppenheimer slightly raised its Nokia estimates, citing decent fourth-quarter demand.
"Our checks point to balanced demand across all smartphone platforms (Symbian, WP7, WP8) benefiting from channel fill and strong carrier/Nokia/Microsoft(MSFT) marketing," wrote Kidron.
The analyst also noted that Nokia's Asha products continue to gain traction in what is traditionally a strong quarter for feature phones.
Groupon(GRPN) was another loser, tumbling 1.6% to $4.61 on Monday. The daily deals site was also one of the most active premarket Nasdaq stocks on share volume of 93,738.
--Written by James Rogers in New York.
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