On July 13, Nokia fell 3.22% in pre-market trading, trading at $12.30/share, with turnover of approximately $2.95 million.

On the news front, Nordea Bank cut Nokia's target price from €15.7 to €14.8 per share, signaling a more cautious institutional stance that weighed on market sentiment. Concurrently, the company's previously disclosed transfer of 43,552,813 treasury shares along with a management transaction (Fisk) announced on July 9 continues to exert selling pressure. Nokia had surged over 5% on July 9 following its AI-enabled defense partnership with NestAI and Bank of America's target price upgrade from €14.4 to €15.6, but profit-taking from that rally remains unresolved.

The broader Communication Equipment sector is under pressure, with Lumentum Holdings down 4.06%, Applied Optoelectronics down 4.47%, Ciena down 4.26%, Cisco down 0.3%, and Arista Networks down 0.19%, amplifying sector-wide selling momentum.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)