--- title: "US Stock Market Intraday Update: Nokia Oyj Q3 Earnings Beat but Shares Drop 13.24% Amid Restructuring Charge Concerns" type: "News" locale: "en" url: "https://longbridge.com/en/news/302756396.md" description: "Nokia Oyj fell 13.24%; Lumentum Holdings dropped 9.68%, with turnover reaching $2.791 billion; Infinera Corporation fell 9.11%, with turnover reaching $721 million; Arista Networks dropped 7.08%, with turnover reaching $667 million; Cisco Systems fell 2.55%, with a market capitalization of $412.1 billion" datetime: "2026-10-22T17:03:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/302756396.md) - [en](https://longbridge.com/en/news/302756396.md) - [zh-HK](https://longbridge.com/zh-HK/news/302756396.md) generator: "portal-rs" --- # US Stock Market Intraday Update: Nokia Oyj Q3 Earnings Beat but Shares Drop 13.24% Amid Restructuring Charge Concerns **US Stock Market Intraday Update** Nokia Oyj fell 13.24%, with increased trading volume. Based on recent news: 1. On October 22, Nokia Oyj reported its third-quarter financial results. Net sales amounted to €5.15 billion, beating the market estimate of €5.06 billion. Adjusted operating profit was €605 million, surpassing the market estimate of €454 million. Despite the earnings beat, restructuring charges increased to €1.1 billion, causing market concern. Source: Guandian.cn 2. On October 22, Nokia Oyj projected restructuring and related cash outflows of €800 million to €900 million for 2026, with full-year adjusted operating profit expected to range between €2.1 billion and €2.6 billion. The increase in restructuring charges triggered investor concerns, leading to a decline in share price. Source: Guandian.cn 3. On October 22, JPMorgan analysts maintained a Buy rating on Nokia Oyj with a target price of €18; Bank of America also issued a Buy rating, while Bernstein maintained a Hold rating. Despite the positive analyst ratings, market concerns over restructuring charges continued to weigh on the stock price. Source: Zhitong Finance AI infrastructure demand remains strong, restructuring charges increase. **Top Stocks by Industry Turnover** Lumentum Holdings fell 9.68%. Based on recent news: 1. On October 20, US cloud service provider CoreWeave faced financial pressure, intensifying market concerns about debt-driven AI investments, which impacted Lumentum's share price. 2. On October 21, a Bernstein report noted that the pullback in share prices for Lumentum and Coherent was mainly driven by overall de-risking in the AI sector. However, the supply and demand dynamics and earnings trends for optical modules did not deteriorate in sync, and the firm maintained an "Outperform" rating for both companies. 3. On October 22, Lumentum Holdings had an annualized return of 35.47% over the past 10 years, but the recent share price pullback reduced its valuation attractiveness relative to Coherent. The impact of overall de-risking in the AI sector was significant. Infinera Corporation fell 9.11%. Based on recent key news: 1. On October 22, share reductions by Infinera Corporation executives drew market attention. President and CEO Gary B. Smith and Executive Vice President David M. Rothenstein sold company stock on October 1 and October 15, respectively, cashing out approximately $1.96 million. This move raised investor doubts about the company's future development, putting pressure on the share price. 2. On October 22, supply chain bottlenecks continued to plague Infinera Corporation. The progress of data center construction lagged behind AI computing power demand, triggering investor concerns about the sustainability of capital expenditures and further affecting stock performance. 3. On October 22, Morgan Stanley raised its capital expenditure expectations for AI infrastructure. Although the optical communication sector rose overall, Infinera Corporation's valuation recovery still awaits revenue-side catalysts. Analysts maintained a "Buy" rating with a target price of $509.85. Optical communication sector rises driven by AI demand. Arista Networks fell 7.08%. Based on recent news: 1. On October 21, MarketBeat did not include Arista Networks in its list of five stocks recommended by top analysts. Although Arista Networks currently has a Buy rating among analysts, top analysts believed other five stocks were more worthy of purchase. This news may have led to a decline in investor confidence and a drop in share price. 2. On October 22, BestBrokers.com reported that Arista Networks co-founder David Cheriton's wealth decreased by $9.1 billion within a year, which may have triggered market concerns about the company's future performance, further suppressing the share price. 3. On October 22, Arista Networks' third-quarter financial results were imminent. Market expectations were high, but the company's current high valuation led investors to doubt whether it could meet expectations, causing stock price volatility. AI data center market competition is fierce, investors need to pay attention. **Top Stocks by Industry Market Capitalization** Cisco Systems fell 2.55%. Based on recent key news: 1. On October 21, Cisco disclosed serious vulnerabilities in its Expressway series, allowing attackers to execute commands with root privileges without authentication. This intensified market concerns about its security, putting pressure on the share price and causing a decline. Source: MarketWatch 2. On October 20, analyst reports showed that although Cisco was rated as a "Moderate Buy," it was not included in the list of top recommended stocks. The market remained cautious about its future growth potential, affecting stock performance. Source: MarketBeat 3. On October 22, market enthusiasm for investing in AI technology surged. Some investors chose to buy AI-related stocks on dips, but Cisco failed to fully benefit from this trend, leading to stock price volatility. Source: 24/7 Wall St. Tech industry focuses on AI investment boom, significant capital flows. ### Related Stocks - [NOK.US](https://longbridge.com/en/quote/NOK.US.md) - [LITE.US](https://longbridge.com/en/quote/LITE.US.md) - [CIEN.US](https://longbridge.com/en/quote/CIEN.US.md) - [ANET.US](https://longbridge.com/en/quote/ANET.US.md) - [CSCO.US](https://longbridge.com/en/quote/CSCO.US.md) ## Related News & Research - [Nokia Oyj Non-GAAP EPS of €0.09 beats by €0.03, revenue of €5.15B beats by €90M](https://longbridge.com/en/news/302652852.md) - [Nokia Q3 profit rises 95% to EUR 156 million](https://longbridge.com/en/news/302649426.md) - [NOKIA: AI and network growth lifted Q3 comparable profit 35%; FY guidance remains unchanged](https://longbridge.com/en/news/302649076.md) - [Tesla-SpaceX Merger Stands at 80%-90% Chance, Dan Ives' $500 Price Tag Explains Why](https://longbridge.com/en/news/303112286.md) - [Verizon CEO Says SpaceX May Be Years Away From Becoming America's 'Sixth' Wireless Competitor](https://longbridge.com/en/news/303109070.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**