Why Nokia Stock Is Sinking Today
Shares of Nokia (NYSE: NOK) are falling on Tuesday, down 5.4% as of 3:40 p.m. ET. The drop comes as the S 500 (SNPINDEX: ^GSPC) gained 0.1% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 0.3%.
Nokia, the telecom company and once cell-phone giant, announced today that it has revised its guidance ahead of its upcoming earnings release.
The Finnish company announced today that it has revised its comparable operating profit guidance for the full year downward. While it had been projecting profits of between 1.9 billion euros to 2.4 billion euros, it now expects between 1.6 billion euros and 2.1 billion euros. Nokia cited currency fluctuations and a weakening U.S. dollar as the primary reason for its revision. It also cited impacts from President Trump's tariffs and those imposed in response by the E.U.
Source Fool.com
