NEW YORK (
) -- Shares of
(NOK - Get Report)
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/
(MSFT - Get Report)
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.
(GRPN - Get Report)
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.
(AAPL - Get Report)
, which will sell start selling products on
network next year, fell 1.18% to $526.96 in premarket trading.
(FB - Get Report)
was off 0.75% at $27.28, although its partner
(ZNGA - Get Report)
climbed 1.57% to $2.59.
(CSCO - Get Report)
, 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: