On July 28, Nokia Oyj fell 3.34% overnight, trading at $8.98/share, with turnover of $157,300.

On the news front, the decline reflects continued sell-the-news pressure following Nokia's Q2 earnings release on July 23. Despite posting strong results — adjusted comparable operating profit of EUR 4.34 billion, up 18% year-over-year and significantly exceeding the market consensus of EUR 3.82 billion — the stock has been under sustained selling pressure since the report. AI and cloud business orders reached EUR 2.8 billion with sales more than doubling year-over-year, and the company raised its full-year comparable operating profit guidance to EUR 2.1-2.6 billion, above the prior EUR 2.0-2.5 billion range. However, the stock had already rallied ahead of the report, triggering a classic profit-taking pattern. Shares have retreated from approximately $10.28 prior to earnings to current levels, representing a cumulative decline of over 12% in the days following the release.

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