BMO Capital Markets Maintains Ratings For Nokia (NOK) and Intel (INTC)

Analyst Tim Long from BMO Capital Markets met with Nokia Corp. (NYSE: NOK) Executive Vice President Tero Ojanpera at the Mobile World Congress in Barcelona and discussed the company's Meego operating system that was developed in partnership with Intel Corporation (NASDAQ: INTC).

Long maintained his Market Perform rating for Nokia Corp. He said he believes that the focus on Meego will cause a slower than expected recovery for Nokia's smartphone business.

The analyst also said that while Nokia is expanding its services businesses, that prices are falling and that he doesn't think the businesses will be very profitable.

BMO Capital Markets also maintained their Outperform rating for Intel Corporation.