Ericsson Shares Plunge on Lower Outlook
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STOCKHOLM, Sweden -- LM Ericsson shares plunged nearly 24 percent Tuesday as the wireless network company unexpectedly cut its third-quarter forecast, the latest cell phone technology company to feel the pinch of slowing sales worldwide.
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European and US shares fall sharply as poor economic and corporate news adds to fears of a US recession.
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A predicted slowdown in future market growth has taken the shine off Ericsson AB&#39;s (Nasdaq: ERICY - message board) impressive third quarter results today, sending its share price spiraling down (see Ericsson Ups Q3 Profit).
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A slew of dismal earnings results drove European equity markets sharply lower on Thursday as fears grew of a global economic slowdown.
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Swedish telecommunication equipment maker Ericsson reported a gain in second quarter net earnings Friday but shares fell by more than four percent as its numbers came in short of market expectations.
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Texas Instruments Inc  posted a 10 percent rise in quarterly profit on Monday, but gave a disappointing revenue forecast due to the loss of some business at customer Ericsson, sending its shares down as much as 4 percent.
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Telecom equipment maker Ericsson  (ERICb.ST) reported lower-than-expected profit and announced  sweeping job cuts on Friday as the group hunkered down for what  it expects will be a flat market this year.
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Sharp falls in technology stocks led  Asian share markets lower Friday on bleak earnings prospects at  industry leader Samsung Electronics Co. Ltd. and a retreat on  Wall Street.
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Ericsson, the world&#39;s biggest mobile  network maker, reported softer-than-expected second-quarter  earnings on Friday but said the company continued to outperform  the market.
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Ericsson, the world's biggest supplier of mobile telecommunication systems, has reported a slight drop in second-quarter net profit as the acquisition of British group Marconi in 2005 continued to weigh on earnings.
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European shares nosed up on Wednesday as Ericsson gained on news it had won part of $4-billion Cingular deal and with Glaxo buoyed after Pfizer affirmed its outlook.
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Swedish telecommunication equipment maker Ericsson on Friday reported a gain in second quarter net earnings but its sales performance fell short of market expectations.
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The companyâs shares plunged 15.9 percent to a nearly four-year low of $10.36 in morning trading after its net profit fell 84 percent in the fourth quarter.
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Telecom equipment maker Ericsson   reported on Friday lower-than-expected operating  profit of 7.6 billion Swedish crowns ($1.20 billion) in the  fourth quarter and announced major cost cuts.
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STOCKHOLM, Sweden -- Sony Ericsson, the world's fourth-largest mobile phone maker, saw growing profits and market share in the second quarter but said the average selling price of its handsets continued to fall.
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Ericsson, the world's biggest producer of mobile phone networks, said market growth would slow next year, sending its share price down sharply despite reporting a big jump in third-quarter profits on Friday.
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European shares nosed up on Wednesday as  Ericsson gained on news it had won part of $4-billion Cingular  deal and with Glaxo buoyed after Pfizer affirmed its outlook.