Nokia is trading at €6.85, down 11.04%, as its reduced 2026 free-cash-flow conversion outlook weighs on shares. - In its October 22 Q3 report, Nokia cut expected conversion to 35%–55% from 55%–75%. - Q3 free cash flow was negative €99 million; Nokia cited working-capital investment and accelerated restructuring. - Coverage identified the outlook reduction as a concern. The move is an earnings-and-guidance reaction, rather than one best explained by broader technology weakness.