"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. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
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