NAZ futures just jumped up like a private at boot camp. POP! Looks like Nokia will lead Friday's charge ahead... and with NOK's $150 billion market cap., which could swing all of the telcom sector out of its coma... well hang on 'the naz drive back to five' has just begun!
Ericsson may taint mega-rally, we'll see if market sees this as a weak competitor in a healing industry.
marketwatch.com
Ericsson dives, Nokia thrives
By Gareth Vaughan, FTMarketWatch
Last Update: 2:51 AM ET Apr 20, 2001
STOCKHOLM (FTMW) - Ericsson (SE:000010865: news, alerts) (ERICY: news, msgs, alerts) (ERICY: news, msgs, alerts) said its first quarter pretax profit fell 90 percent and it would take a 15 billion Swedish kronor restructuring charge in the second quarter and lay off up to 10,000 staff as the growth of the mobile phone and mobile phone infrastructure markets slow.
Rival Nokia (NOK: news, msgs, alerts) (SE:000053994: news, alerts) , however, beat analyst expectations with a 10 percent jump in first quarter profits to €1.48 billion, and forecast ongoing substantial growth in its handset sales and market share. Its results reinforced its dominance in handsets and its triumph over Ericsson.
RO |
