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Ticker Shock: Three Reasons to Keep Nokia on Hold

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Monday's top stories and stocks with potential to move.

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Anyone see the movie Office Space? I've seen it maybe a half dozen times over the years and I tell you -- it gets funnier every time. If you work 9 to 5 or in an office, check out this film.

Asian stocks rose overnight. The Hang Seng and the Nikkei were up 1.67% and 3.35%, respectively. European stocks were a smidge higher earlier this morning as well. And here in the US, we're currently trading higher.

Here's what I'm seeing this fine Monday morning:

Nokia (NOK):
Deutsche Bank dropped its rating on the stock like I dropped third-period French. It went from Buy to Hold.

Deutsche's move doesn't have that much of an impact on my thinking. I'm not too crazy about this company for a few reasons:

1. The stock is just a little bit rich, trading at 16 times this year's estimate.

2. I'm noticing that the estimates have been coming down over the last couple of months, and that's a turn-off, too.

3. In order for me to dial in a buy order, I'd want to see the stock in the single digits. Alternatively, I'd like some hard evidence that the current 2010 estimate is very doable.

Advanced Micro Devices (AMD):
My fellow Minyan Justin Sharon points out that Citi upgraded Intel's (INTC) number-one nemesis from Hold to Buy.

My thoughts:

1. A bump up from Citi could cause the stock to show some signs of life in today's session. But I'm not all that excited about this news, and I don't believe it's a better play than Intel.

2. Besides chips, look at all the losses the Street expects it to make. Additionally, with the stock trading at less than the price of a value meal at McDonald's (MCD), why aren't insiders dropping lots of coin on it?
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No positions in stocks mentioned.

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