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Technology Stocks : Ericsson overlook?

ERIC 9.720

-1.3%

Nov 14 9:30 AM EST

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To: DMaA who wrote (2582)	1/20/1999 12:47:00 PM
From: Jim Oravetz	Read Replies (2) of 5390

From WSJ($) site: Ericsson Shares Drop On Fears Of New Profit Warning STOCKHOLM (Dow Jones)--Shares in Swedish telecommunications group LM Ericsson AB (ERICY) fell 4.1% around midday Wednesday on rumors, later denied by the company, of a new profit warning. The shares have been under severe pressure since last December after the company said the 1998 profit could be around 20% lower than analysts had expected. An Ericsson spokeswoman said that the profit warning from last year still should be the yardstick. "We plan to present out report on the 28th (January) and nothing else," she said. "We stick to our Dec. 10 profit warning." Ericsson is due to present 1998 earnings Thursday next week and some market observers the rumors are most likely just jitters ahead of the report. "Ericsson's shares are known for being rather volatile just ahead of earnings," he said. At 1230 GMT Ericsson traded at SEK189.50, down SEK8 or 4.1% from Tuesday but well above the session low of SEK184. -By Jan Lindroth; +46-8-6627902

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