Nokia reported stronger-than-expected profits for its core network equipment business on the back of network roll-outs in China and North America.» Read More
Financial markets will have plenty of news to feast on in the coming week although the markets generated enough headlines on their own in the first days of January with just a few big stories to chew on. The second week of January is quite busy. We're looking forward to some of the most important and newsy industry conferences of the year, plus the start of earnings season, an important Fed speech, and some fresh economic data.
Bad news from--and for Motorola today. The company announces poor fourth quarter expectations this morning--lowering its earnings and sales guidance. The cuts come as a result of shortfalls in its mobile devices unit. That news lead to downgrades by six analysts this morning. The stock is trading down nearly 8% in mid-day trading as a result. There was one analyst who may have seen this coming. He downgraded Motorola three weeks ago.
U.S. jobs data will guide the markets today and bad news from Motorola is rippling through global markets. An early look shows U.S. equities weaker ahead of the opening. European stocks are lower as commodity driven shares continue to sell off and most Asian markets closed with losses.
The Washington Research Foundation has sued mobile phone makers Nokia, Samsung Electronics and Matsushita-owned Panasonic for infringing on a patent for wireless Bluetooth technology.
Markets? Markets? We Don’t Need No Markets!: During its nearly 18-year history, CNBC has employed a number of programming strategies on days when the markets are closed. Today is one such day - as the nation honors the memory of its 38th president, Gerald Ford. In this instance, we chose to go with regular live programming....
Qualcomm lowered its profit estimate for its fiscal first quarter, citing higher-than-expected legal costs and customer's deferred payment.
Yikes! Two major players in wireless with warnings kind of makes you wonder: is the hottest sector in tech cruising for a slowdown? Or is there some disconnect between them and everyone else? Despite Palm's and Nokia's issues, wireless is hardly dead, or even dying. It remains one of the most robust sub-sectors in tech and with mobile music and mobile video, will remain so in 2007. And to prove the point, I'm filing this blog on my Blackberry!
Stocks closed the session higher, after investors spent the day sifting through various economic reports and parsing words from Federal Reserve Chairman Ben Bernanke, who provided a mixed economic outlook.