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TheStreet Open House

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.

Shares of Apple (AAPL), which will sell start selling products on T-Mobile USA's network next year, fell 1.18% to $526.96 in premarket trading.

Facebook (FB) was off 0.75% at $27.28, although its partner Zynga (ZNGA) climbed 1.57% to $2.59.

Cisco (CSCO), which kicks off a major new brand strategy on Monday, saw its shares creep up 0.03% to $19.34 before market open on Monday.

--Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

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