Motorola (MOT: 22.50, -0.45, -2.0%) can relate to the sour market reception. The numbers it released last Thursday showed an 18% jump in fourth-quarter sales, a 68% surge in earnings per share (13 cents of which came from a Turkish telecom company's debt repayment), a 40% increase in mobile handset shipments and -- kiss of death -- in-line Q1 guidance. Investors' response: a harsh 8% selloff on Friday. As for the one "surprise" in Nokia's report, here it is: Average selling …showed first 75 words of 807 total…

…showed last 75 words of 807 total…to Thursday's pullback, it carried a price/earnings multiple of 16.7, slightly higher than the Standard & Poor's 500's 15.7, but lower than Motorola's 17.9, according to Zacks Investment Research. On a price/earnings growth, or PEG, basis, Nokia touts a multiple of 1.47, only slightly richer than Motorola's 1.39, according to Zacks. Since my story in September, Nokia shares have appreciated nearly 10%, yet they sport leaner valuations than they did four months ago. Can you hear me now?