Nokia (NOK), the world's largest manufacturer of cell phones, has been hit hard over the past year as Google (GOOG) and Apple (AAPL) ramped up market share in the market for mobile devices. The company, which has a 40% share of the world's cell phone market, has been struggling to develop a smartphone that will let it compete not only with the Android operating system, but also with the iPhone and the BlackBerry, by Research In Motion (RIMM).

While Nokia fumbled, the stock, which traded at more than $15 per share in April, has fallen about 38% and now trades around $9.50.

But things could be about to turn around.

Goldman Sachs (GS) was quite the busy brokerage this morning, as it trekked through the financial sector and also issued a number of other upgrades, including one for Sprint Nextel (S).

The brokerage upped Sprint to buy from neutral, issuing a $6 price target, a nice elevation from the previous target of $3.50. Goldman noted that the reason for the upgrade is churn, and that the company is "about to move the needle." Goldman stated, "Sprint's gross add/upgrade activity slowed sharply in 2008, which ironically should benefit the company over the course of 2010 as the logical pool of churn subscribers is reduced." The upgrade comes basically from a glorified hunch.

Apple Inc. (NASDAQ: AAPL) hit another big milestone today, announcing that its App Store had hit 2 billion total downloads.

The number is pretty impressive to say the least, and will continue to rise at a rapid pace. Apple now has 85,000 applications available for download, and its services are currently being offered in 77 different countries. That number is up from the 65,000 applications that were available this past July.

The only DOW component reporting earnings this morning is Verizon Communications (NYSE: VZ). The nation's largest wireless carrier reported second quarter numbers that fell inline with analyst estimates.

Going into this morning's earnings report, analysts polled by Thompson Financial expected Verizon to earn 63 cents per share. Excluding merger and various one-time labor costs, Verizon was able to match that number.

As global markets improve, we are now seeing renewed interested in M&A. Interestingly enough, it looks like a $23 billion deal is brewing between cell phone operators Bharti Airtel Ltd. -- the largest in India -- and South Africa-based MTN Group Ltd., according to a report in the Wall Street Journal.

Actually, Bharti-MTN already tried to put a deal together -- about a year ago. But things fell apart based on factors like valuation and control.

This market isn't fit for most investors, but if you have the risk tolerance to own (or increase a position in) a stock or two, consider a utility.

But not just any utility. We're talking a well-capitalized utility. With solid revenue streams. And a large, moneyed customer base. And dominate positions in key markets. Hey, this is not a market for 'experimental business models' and 'iffy' stock plays, which is why Verizon is worth a review.

Today's economic (and credit market) conditions call for taking a page out of that great analysts' defensive play book: if we liked it at $27, we like it even more at $24.

The 'it' being AT&T's (NYSE: T) shares. AT&T shares walked in tandem with the market's great slide in 2008, but just as significant, the shares have been essentially unchanged since October 2008. In other words, shares were essentially unmoved by the greatest financial market and stock market turmoil since the 1930s.

Yesterday we ran an earnings preview on mobile device maker Motorola (NYSE: MOT) and asked if the company would be able to break even for its fourth quarter. The answer is no, and shares are trading sharply lower in reaction to the company's weak earnings report.

Excluding items, the company lost a penny a share, which was weaker than the break even quarter that analysts had been hoping to see. For comparison purposes, the company was able to earn a positive 5 cents a share for the same period last year.

Before the market opens tomorrow, mobile device maker Motorola (NYSE: MOT) is going to be announcing its fourth quarter numbers, and analysts are expecting to see a break even quarter from the struggling company.

Despite being one of the best known makers of cell phones, Motorola has had a tough couple of years, and has been losing its market share at an alarming rate. In 2007, the company remained the number two maker of cell phones, but 2008 was tough on the company, which now finds itself down in fifth place in market share.

Dropped calls have been a nuisance since the dawn of cell phones. But which cellular service provider has the best record in terms of the fewest dropped calls?

In a recent survey, ChangeWave asked 3,800 cell phone owners to estimate the percentage of their calls that were dropped during the past 90 days.

The survey, which was conducted Dec. 9-15, 2008, produced a clear winner: Verizon (NYSE: VZ) has the fewest dropped calls of all.

Some great news for Apple Inc.'s (NASDAQ: AAPL) revolutionary iPhone today, as a new study shows that for the first time ever, Apple has moved ahead of competitor Research in Motion Limited (NASDAQ: RIMM) for second place in overall smartphone market share.

Top slot remains firmly in the hands of Nokia Corporation (ADR) (NYSE: NOK), but the current data may start to give the perennial champion some reason for concern. While its current lead in market share domination remains well above its next closest competitor, but the figures are much closer than what they were this time last year, another indication of just how popular the iPhone has become over the past year.

Last year at this time, Nokia had a very tight grip on the market, with a reported 51.4% control of the market. It's next closest competitor was Research in Motion, which had 10.6% market share.

Qualcomm, Inc. (NASDAQ: QCOM), a famous name in the wireless industry whose colleagues include Broadcom Corporation (NASDAQ: BRCM), Texas Instruments Incorporated (NYSE: TXN), and Nokia Corporation (NYSE: NOK), reported earnings for the fourth quarter on Thursday. While the stock may be up today, I'm not so sure I'd be a buyer of it.

It's not that the bottom-line numbers were wholly bad. Net profit rose 16% to roughly $1.1 billion. Earnings per diluted share on an adjusted basis increased 17% to $0.63. According this news source, that figure beat estimates by three pennies. That's all well and good, but that news source also states that Qualcomm is guiding below consensus. Not surprising, certainly, given what the markets are going through. But it still puts a damper on the stock's near-term potential, in my opinion. Plus, free cash flow was down 13% during the quarter, and it was flat for the twelve-month period.

Except for certain companies like Microsoft Corporation (NASDAQ: MSFT), I'm not really interested in playing the tech sector. If you had purchased Qualcomm near its 52-week low of $30.87, I'd be a seller into today's strength. No, I certainly can't predict the movement of stock prices, but I can tell you that I think Qualcomm could easily pull back from today's rally. The recession is going to worsen, and I don't think we've reached the point where the market will begin to discount better days. In fact, we're probably far off from that point. The rally that is going on in the markets as I write this (and by the time this gets published, it could be gone for all I know) feels like a dead-cat bounce. That wouldn't be good for Qualcomm's stock, I'd imagine. So, kudos to management for beating Q4 expectations. But I won't be rewarding you by buying your stock. Sorry!

Disclosure: I don't own any company mentioned; positions can change at any time.

Motorola Inc. (NYSE: MOT) is like the guy who was cool in high school and still tries to impress girls at the football game when he's 30.

The once-cutting edge technology company reported dismal third quarter results. The results were not as wretched as Wall Street had expected but they stunk nonetheless. Motorola's net loss was $397 million, or 18 cents a share, compared with $60 million, or 3 cents, a year earlier. Sales plunged 15% to $7.48 billion. Excluding costs to fire people, profit was 5 cents a share, beating the 2-cent average estimate of analysts polled by Bloomberg News. The revenue figure trailed the $7.82 billion Bloomberg estimate.

But neither the results nor the company's statement that it has exceeded its goal of cutting $1 billion in costs impressed investors who sent shares of the Schaumberg, Illinois-based company tumbling in early morning trading today. The company's plans to separate its headset business from the part that actually makes money is on hold. For how long, it's not clear.

Tech giant Apple Inc. (NASDAQ: AAPL) put up some impressive numbers for its fiscal fourth quarter this afternoon as the company saw huge shipments of its iPhone and Macintosh products (wsj subscription required), but did forecast that its first quarter was going to be challenging.

Going into this afternoon's earnings announcement, analysts had been expecting the company to earn $1.11 a share, but the company shattered that estimate with a reported $1.26 per share, accompanied with a revenue jump of 27% to $7.9 billion.

Most of the attention that Apple has received over the past six months has surrounded its upgraded iPhone, the iPhone 3G. During the quarter, iPhone shipments shot through the roof, rising six times to 6.9 million units.

Research in Motion Limited (USA) (NASDAQ: RIMM) announced today the launch of a new touch screen BlackBerry, which will go under the name of the Storm 3G.

The move comes as the company tries to make another big step in gaining market share in the consumer segment. For most of the BlackBerry's existence, the phone has been regarded as mainly a device for professionals, but RIMM has been trying to break that reputation, and is banking on the fact that its newest touch screen will help move the company in that direction.

All of the major mobile phone makers have been scrambling to keep up with the mania that Apple, Inc. (NASDAQ: AAPL) created last year when it released its iPhone, and then again this year when that mania spiked once more with the release of the upgraded iPhone 3G.