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Sony Ericsson, the world's No.4 mobile phone maker, posted better-than-expected fourth-quarter earnings on Wednesday as it shipped more phones, and said its share of the global handset market had increased.
Stocks closed higher after another volatile session, helped by a rally among energy shares as oil soared to a record high close of $98 a barrel.
Ericsson, the world's biggest maker of mobile networks equipment, expects its China sales growth to exceed 10 percent per year in 2007 and 2008 amid robust demand in the world's fastest-growing major economy.
Telecoms equipment group Ericsson's chief financial officer has stepped down, a week after a shock profit warning which caused a massive selloff in the company's shares.
Stocks fell after Fed Chairman Ben Bernanke said the housing slump is likely act as a drag on to U.S. economic growth, sparking investor concerns. "It was just last month Bernanke was saying things were contained, but now he's saying housing troubles can spread," said Brian Hicks, president of Wealth Daily. "This-flip flop in the last month has really spooked the markets."
Shares in telecommunications equipment maker Ericsson lost nearly a quarter of their value Tuesday, after the company issued a drastic profit warning, saying third-quarter earnings would be well below expectations.
The problems today: 1) Financials. For a view of why traders are now very worried about Q4 earnings for financials, look no farther than KeyCorp. Q3 earnings and Q4 guidance were both below expectations; there were strains from fixed income markets particularly in commercial real estate, and rising problems with residential construction loans.
How much oil pressure can the stock market take before it blows a gasket? Oil continues to surge into record territory, closing in on $88 per barrel and ready to pump right through $90. Stocks are floundering this morning after weakness in Europe and a down day in Asia. China, though, continues to be the exception with Shanghai stocks once more in record territory.
If Icahn gets his way, this company could split into three. Cramer puts a price on it.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
My thoughts this Tuesday morning: 1) Ben Bernanke's speech widely discussed on the Street this morning. Traders wondering why he didn't talk about energy and food prices; further evidence that core inflation is what matters to the Fed.
Investor, the investment group controlled by Sweden's Wallenberg family, said Thursday it swung to a loss in the third quarter and cited the recent market turbulence and credit crisis stemming from the U.S. subprime lending morass.
Wall Street is counting down to next week's Fed meeting and not much else is influencing trading. Stocks are readying for a higher opening as investors wait for a speech from Fed Chairman Ben Bernanke later this morning and watch the action at OPEC.
Telecom network maker Ericsson has gained market share in all areas and is poised to grab an even bigger slice of the markets it targets, the firm's top executive said on Tuesday.
Mobile handset maker Sony Ericsson said on Tuesday its president, Miles Flint, would step down and that the chairman of Sony Electronics USA would succeed him as of Nov 1.
Things are a bit calmer today: volatility much lower, volume still heavy, but not as heavy as last 6 or 7 days. Three stocks advancing for every two declining.
The CTIA Wireless Show is the largest of its kind in the U.S. Our Silicon Valley bureau chief Jim Goldman traveled to Orlando, Florida to take the pulse of the industry.
Sony said on Thursday its quarterly profit more than trebled after strong digital camera sales and a softer yen far outstripped losses at its game unit.
Every summer gadget companies are building the products they plan to sell during the late summer to Christmas bull market. A good investment play on the trend is to buy component makers like Texas Instruments.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Ericsson, the world's biggest mobile network maker, reported softer second-quarter earnings than expected on Friday, posting flat sales in its key European market and disappointing the market in its multimedia drive.
Motorola on Thursday posted a quarterly loss as revenue fell amid weak phone sales and the company loses market share.