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Europe Top News and Analysis Sweden

  • TeliaSonera reported unexpectedly weak earnings on Friday and said it planned to cut 2,900 Nordic staff as part of an efficiency drive to reach a promised 5 billion Swedish crown ($775 million) savings target.

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    Electrolux, the world's second-biggest home appliances maker, reported quarterly earnings above market expectations on Wednesday and forecast 2008 core income in line with 2007, sending its shares up.

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    World number-two truck maker Volvo posted a smaller-than-expected rise in fourth-quarter pretax profit on Wednesday, hitting its shares, but said itstill saw firm growth in its key European market.

  • Ericsson reported a lower-than-expected quarterly profit Friday, sending its shares 2.7 percent down, while company CEO Carl-Henric Svanberg told "Power Lunch Europe" the outlook for the year ahead is largely flat.

  • Swedish clothing giant Hennes & Mauritz posted fourth-quarter pretax profit short of analysts' expectations on Thursday and said its December sales in stores open more than a year fell 1 percent.

  • Swedish fashion chain Hennes & Mauritz said on Monday its sales rose 14 percent in November year-on-year, lower than expected by analysts, but aided by a collection from Italian designer Roberto Cavalli.

  • AstraZeneca said on Friday that U.S. health regulators had approved Seroquel XR, an extended-release version of one of its top-selling drugs, as a maintenance treatment for adult schizophrenia patients.

  • AstraZeneca has won U.S. approval to market its cholesterol-lowering drug Crestor to treat the clogging of arteries, which may boost sales of the blockbuster drug in an increasingly competitive market.

  • AstraZeneca profits fell 14 percent in the third quarter, hit by competition from cheap generics plus acquisition and restructuring charges, the Anglo-Swedish drugmaker said on Thursday.

  • Nordic stock exchange operator OMX said Wednesday its earnings rose 30 percent on growing trade revenue in the third quarter despite the uncertainty about the company's future ownership.

  • Sweden's Volvo posted a smaller-than-expected rise in quarterly pretax earnings on Wednesday, but was upbeat on demand in Europe while remaining confident about a recovery in the troubled U.S. market.

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    Electrolux reported third-quarter core earnings below market expectations on Monday and said uncertainty had increased over whether it would meet its outlook of somewhat higher full-year earnings.

  • Defense and aerospace group Saab on Friday posted third-quarter pretax earnings short of forecasts and said it expected overall 2007 growth would be in line with last year.

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    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.

  • Hennes & Mauritz beat expectations with a 25% year-on-year rise in September sales, its second-strongest figure in five years, signaling a buoyant reception for its winter fashions and online shops.

  • 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.

  • Swedish fashion giant Hennes & Mauritz posted below-consensus third-quarter pretax profit on Wednesday due to weaker revenues than expected, but the company said sales in the fourth quarter had developed well.

  • Sweden's Financial Supervisory Authority (FI) said it would investigate to see if OMX used inappropriate defense measures after Borse Dubai launched an unsolicited bid for the exchange owner.

  • Norwegian financial group Storebrand on Monday announced a deal to buy Sweden's Handelsbanken's insurance and pensions subsidiary SSP for 18 billion Swedish kronor (1.9 billion euros; $2.65 billion), creating the Nordic region's leading life insurance and pensions provider.

  • Swiss-Swedish engineering company ABB said on Monday it had agreed to sell its Lummus Global business to Chicago Bridge & Iron Company (CB&I) for an enterprise value of $950 million.