Nokia Oyj (NOK): Today's Featured Technology Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Nokia Oyj ( NOK) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 0.3%. By the end of trading, Nokia Oyj rose 11 cents (4.3%) to $2.67 on light volume. Throughout the day, 25.8 million shares of Nokia Oyj exchanged hands as compared to its average daily volume of 56.7 million shares. The stock ranged in a price between $2.65-$2.72 after having opened the day at $2.70 as compared to the previous trading day's close of $2.56. Other companies within the Technology sector that increased today were: Enova Systems ( ENA), up 77.3%, OPNET Technologies ( OPNT), up 31%, eOn Communications Corporation ( EONC), up 25%, and Recon Technology ( RCON), up 23.6%.
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Nokia Corporation provides telecommunications infrastructure hardware, software, and services worldwide. The company offers smart phones and smart devices; and feature phones, and related services and applications. Nokia Oyj has a market cap of $9.5 billion and is part of the telecommunications industry. Shares are down 46.9% year to date as of the close of trading on Tuesday. Currently there is one analyst that rates Nokia Oyj a buy, 10 analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates Nokia Oyj as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself.

On the negative front, Rediff.com India ( REDF), down 39%, Vringo ( VRNG), down 36%, Ceragon Networks ( CRNT), down 23.4%, and TSR ( TSRI), down 18.7%, were all laggards within the technology sector with Riverbed Technology Incorporated ( RVBD) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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