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

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Nokia Oyj ( NOK) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 0.3%. By the end of trading, Nokia Oyj fell $0.08 (-1.0%) to $7.92 on light volume. Throughout the day, 17,748,492 shares of Nokia Oyj exchanged hands as compared to its average daily volume of 35,218,600 shares. The stock ranged in price between $7.84-$7.95 after having opened the day at $7.88 as compared to the previous trading day's close of $8.00. Other companies within the Technology sector that declined today were: OCZ Technology Group ( OCZ), down 29.6%, eOn Communications Corporation ( EONC), down 13.2%, China Finance Online ( JRJC), down 9.5% and Zoom Technologies ( ZOOM), down 8.2%.

Nokia Corporation operates as a mobile communications company worldwide. It operates in three segments: Devices & Services, HERE, and Nokia Siemens Networks. Nokia Oyj has a market cap of $29.5 billion and is part of the telecommunications industry. Shares are up 102.5% year to date as of the close of trading on Monday. Currently there are 4 analysts that rate Nokia Oyj a buy, no analysts rate it a sell, and 16 rate it a hold.

TheStreet Ratings rates Nokia Oyj as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet.

On the positive front, ARC Group Worldwide ( ARCW), up 22.1%, ClearSign Combustion ( CLIR), up 17.3%, Rambus ( RMBS), up 12.3% and Trunkbow International Holdings ( TBOW), up 11.8% , were all gainers within the technology sector with NVIDIA Corporation ( NVDA) being today's featured technology sector leader.

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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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