Why Biostar Pharmaceuticals Inc.(BSPM), Telefonaktiebolaget LM Ericsson (ERIC), and Three Other Stocks Are Trading Lower Today

Nokia Corp (ADR) (NYSE:NOK) stock is trading 5% lower as the European technology and communication stocks tumbled following Ericsson’s profit warning. In other news, Nokia has announced that it managed to set a new record for undersea cable capacity, demonstrating a 65 terabit/second transmission rate. A total of 15 funds from our database have positions in Nokia Corp worth about $369 million as of the end of June, compared to $390 million worth of shares held by 20 investors a quarter earlier.

ServiceNow Inc. (NYSE:NOW) stock is down following a rating downgrade from OTR Global. The analysts reduced the rating on the stock to ‘Mixed’ from ‘Positive’. Among the funds we track, 31 funds were long ServiceNow stock’s at the end of June, up by three funds over the quarter. The total value of their holdings advanced to $725 million from $462 million during the second quarter.

Palo Alto Networks Inc. (NYSE:PANW) stock is marginally down in the current trading session on account of its peer company Fortinet lowering its third-quarter guidance and issuing warning about the slowdown in cybersecurity market (see more details). A total of 37 funds from our database amassed stakes in Palo Alto Networks Inc. (NYSE:PANW) worth $801 million at the end of June, down from 42 funds and $956 million, respectively, at the end of the first quarter.

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