Ericsson's strong fourth-quarter results boost telecom shares. Motorola rises on its own good news
Published:
9 February 2004 y., Monday
A strong quarterly earnings report from Swedish telecom equipment maker LM Ericsson boosted the telecom sector Friday, helping to push technology shares to a stronger close.
According to preliminary reports, the Nasdaq composite gained 44.45 to 2,064.01. The Amex technology index edged 14.20 higher to 731.96, while the Philadelphia semiconductor index rose 23.68 to 519.41.
Ericsson, the world's biggest producer of mobile networks, made an adjusted pre-tax profit of 5.5 billion crowns ($754 million) in the fourth-quarter, more than double analysts' expectations of 2.66 billion crowns. The company reported a 2.1 billion-crown loss, adjusted for restructuring costs, a year earlier.
Revenue rose to 36.2 billion crowns to exceed expectations of 34.6 billion crowns thanks to year-end spending by U.S. operators as well as rapid growth of carriers in China and India.
Ratings upgrades from Goldman Sachs and Fulcrum also helped to propel Ericsson shares nearly 13 percent to $26.77 on the Nasdaq.
On the New York Stock Exchange, Lucent Technologies shares bounced 3.6 percent to $4.38 while shares of Nortel Networks gained 3.4 percent to $7.88.
Motorola Inc. is seeking to regain its market share in Europe, after unveiling the V80 phone with a rotating cover and two other low-cost phones in Krakow, Poland.
Šaltinis:
money.cnn.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The mission held constructive discussions with Prime Minister Emmanuel Nadingar, Finance Minister Gata Ngoulou, Infrastructure Minister Adoum Younousmi, and other senior officials.
more »
The EBRD is helping to improve the quality of power supply and stimulate renewable sources of energy in the Caucasus with an €80 million sovereign loan to Georgia for the construction of a new high voltage transmission line - the Black Sea High Voltage line, which will interconnect Georgia and Turkey.
more »
The EBRD is helping to improve the infrastructure of the Georgian capital, Tbilisi, with a €100 million loan for the construction of a new railway route bypassing the city.
more »
One of the men considered to be the founding fathers of the euro currency met MEPs on the Foreign Affairs Committee Tuesday (16 March) to talk about transatlantic relations.
more »
European Trade Commissioner Karel De Gucht today opened a conference focused on the European Union's trade policy towards developing countries.
more »
At the beginning of the 2000s, state ownership in financial intermediation in Mexico accounted for about 20 percent of the total credit of the banking system, provided through development financial institutions and funds.
more »
Halving the number of business failures by offering individual support, doubling the number of young people who want to start their own business or raising by 500% the number of enterprising new cooperatives are just some of the projects nominated for the European Enterprise Awards 2010.
more »
The European Commission has published the fourth call for proposals for the creation and upgrade of freight transport services under the second Marco Polo programme.
more »
The European Central Bank (ECB) today announced a programme of technical cooperation with the Central Bank of Bosnia and Herzegovina, in collaboration with a number of euro area national central banks (NCBs).
more »
The EU disbursed today €1 billion to Romania, the second instalment of a €5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »