NEW YORK (TheStreet) -- Shares of Nokia (NOK) fell 5.57% to $7.80 in morning trading Friday despite the Finnish communications company's increasing its anticipated operating margins for the full year 2015.
Nokia said at its capital markets day that it expects operating margins in the range of 8% to 11% on a non-international financial reporting standards basis. Many analysts expected the upgrade, as Nokia reported operating margin of 11.4% in the first nine months of 2014.
Nokia added it expects its Nokia Networks division to increase sales year-over-year for the full year 2015.
Must Read: Warren Buffett's 25 Favorite Stocks
More than 19.1 million shares had changed hands as of 10:46 a.m., compared to the daily average volume of 18,854,600.
Separately, TheStreet Ratings team rates NOKIA CORP as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate NOKIA CORP (NOK) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. However, as a counter to these strengths, we find that the stock has experienced relatively poor performance when compared with the S&P 500 during the past year."