Citi Cuts Nokia (NOK) from Hold to Sell

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An analyst at Citi has downgraded shares of Nokia (NYSE: NOK) this morning. The firm's investment rating on the mobile manufacturer's stock moves from Hold to the dreaded Sell.

Today's downgrade comes amid several press releases from Nokia earlier. First, Nokia provided details as to how it will connect the "next billion" people to the Internet and, a little later, announced that it has formed a global marketing alliance with Intuit (Nasdaq: INTU).

With a couple hours left in this morning's pre-market action, shares of Nokia are down rather sharply (about 3.5%) to $9.78.

Check out our Analyst Ratings page to track all the market-moving upgrades/downgrades on shares of Nokia.

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