Telefonaktiebolaget LM Ericsson (publ) provides network equipment and software, and services for network and business operations worldwide. Its Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud. This segment offers radio access solutions; IP routing and transport solutions; microwave and optical transmission solutions for mobile and fixed networks; IP multimedia subsystem solutions; a cloud platform that handles workloads for various clouds; and telecom, IT, and commercial cloud services. The companys Global Services segment delivers managed services, including services for designing, building, operating, and managing the day-to-day operations of the customers network or solutions; maintenance services; network sharing solutions; shared solutions; and managed services of IT environments, as well as provides broadcast and media services.
Ericsson (ERIC) Issues Profit Warning, Investors Want Action NEW YORK (TheStreet) -- Shares of Sweden-based telecom equipment company Ericsson (ERIC) are plummeting by more than 20% on Wednesday afternoon, after the company issued a profit warning showing that the business is deteriorating faster than anticipated. The company expects to report that third quarter sales dropped by 14% year over year, due to slower development in Segments Network, sales in that division fell by 19% year over year. Gross margin is expected to slip by 28% year over year.
Analyst Upgrade/Downgrade Update Brokerage firm: JP Morgan Change: Downgrade Previous Rating: Overweight Current Rating: Neutral Previous Price Target: N/A Current Price Target: N/A
I could never get behind a trade like that, but if I wanted to gamble, I'd be watching it for a few weeks to see if it can hold this dip and stay above the support line I drew in. If it can hold that for another week or two, maybe you could get in if you really wanted to that bad. Again, I could never trade it.
Shares of Ericsson (ERIC) are moving higher in pre-market trading after Goldman Sachs upgraded its rating on the mobile equipment company to Buy from Sell.
Gapped up today after ER but hit resistance. Think this will go back down for the gap fill, and one more chance to get this at 8.xx. But future prospects are bright, they raised revenue guidance 10% above previous guidance for FY20 and also have hopes for higher margins as 5G comes into use.
