On July 16, Nokia fell 3.11% in pre-market trading to $10.9/share, with turnover of $2.77 million. The decline extends the previous session's 5.04% intraday drop as communication equipment sector weakness carries over into pre-market activity.

On the news front, Nokia announced it will release its second-quarter and half-year financial report on July 23, fueling wait-and-see sentiment among investors. Meanwhile, the broader communication equipment sector remains under selling pressure, with peers including Ericsson broadly weakening. Sector peers Lumentum fell 3.87%, Applied Optoelectronics dropped 4.11%, Arista Networks declined 1.12%, and Ondas Holdings fell 1.42%.

Additionally, Nordea Bank's recent target price cut to 14.8 EUR from 15.7 EUR and the company's large-scale transfer of over 43.55 million treasury shares continue to weigh on sentiment. Although Nokia's joint launch of a commercial AI-RAN platform with NVIDIA represents a medium-to-long-term positive, short-term profit-taking and sector softness are dominating price action.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)