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
An International Monetary Fund mission led by Mr. Paulo Drummond visited Bissau during January 12-27, 2010, to discuss the government’s medium-term economic program that could be supported by the IMF under the Extended Credit Facility.
more »
The International Monetary Fund (IMF) and the World Bank's International Development Association (IDA) have agreed to support US$1.9 billion in debt relief for the Republic of Congo, which includes US$255.2 million of debt relief from the two institutions.
more »
In 2009, net external assets of Monetary Financial Institutions remained negative but increased by LTL 9.3 billion.
more »
Spain's Minister for Science and Innovation, Cristina Garmendia, supports making R&D+i at the heart of Europe as a key to economic recovery.
more »
Lithuania and Malta granted reprieve on budget deficits; Hungary and Latvia on track to meet deadlines.
more »
More responsibility for fishermen, rules favouring good fishing practice and adjusting fisheries management models to complement and improve the traditional quota system should be among the key aims of common fisheries policy reform, say MEPs in an own-initiative report approved by the Fisheries Committee on Wednesday.
more »
On January 8, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Yemen.
more »
On January 22, 2010, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Norway.
more »
Agriculture can help to slow climate change, but should be ready to adapt to the impact of global warming, said Agriculture Committee MEPs and scientists at a public hearing on Wednesday.
more »
The Ministers for Employment of the European Union are holding an informal council on Thursday 28 and Friday 29 January which will lay the foundations for drawing up the common policies in the area of employment which the European Union will adopt over the next ten years as part of the “2020 Strategy”.
more »