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
Commission sets out first finance proposals for Copenhagen pact on climate change.
more »
The World Bank today approved a US$39.5 million loan for the Rio de Janeiro Sustainable Rural Development Project in southeastern Brazil.
more »
The World Bank Board of Executive Directors approved today an additional US$7.8 million for the Colombia Peace and Development Project.
more »
In 2008, the total number of non-cash payments, using all types of instruments, increased by 5% to 78 billion in the EU.
more »
Current economic indicators seem to show a cautious recovery in some of the biggest European economies, such as Germany and France.
more »
Launch Early Operation Phase (LEOP) has been successfully completed and the Palapa-D communications satellite is now in the nominal geostationary orbit (GEO).
more »
The Supervisory Council of AB DnB NORD Bankas on 8 September 2009 elected Šarūnas Nedzinskas as a member of the bank‘s Management Board.
more »
In the last few months farmers across Europe have taken their tractors to the streets to protest at what is being termed the biggest milk crisis for decades.
more »
Mobile telecoms companies have pledged to support the EU’s campaign to equip new cars with a device that would automatically call for help in the event of an accident.
more »
Nordic and Baltic countries aim to strengthen cooperation of business and industry stakeholders.
more »