Market Currents

• Tuesday, November 24, 2009

• 09:22 AM Ericsson (ERIC -0.5%) withdraws a complaint to European authorities over Qualcomm's (QCOM +1%) licensing practices, bringing an end to the legal wrangling. Qualcomm says it's extremely pleased the case - which could have led to a fine or reduced royalties - has been closed. 1 Comment

• Thursday, October 22, 2009

• 09:00 AM Premarket gainers: HTE +33%. SDXC +26%. JCG +13%. FFIV +11%. LOGI +8%. KOG +8%. PNC +6%. ALXN +6%. BQI +5%. CELG +4%. KMB +4%. STI +4%.
  Losers: TQNT -20%. NCR -11%. ERIC -8%. ADS -8%. TEX -7%. BG -6%. RFMD -5%. EQIX -4%. Comment!
• 05:10 AM Ericsson (ERIC): Q3 EPS of 0.25kr misses by 0.61kr. Revenue of 46.4Bkr (-5.7%) vs. 49.46Bkr. "Sales of network equipment declined due to lower demand in the current tougher market environment. Despite lower volumes, Network margins remain stable." Shares -8.9% premarket. (PR) Comment!
• 00:05 AM Notable pre-market earnings: AUO, BDK, BG, BMY, CBE, CELG, CHKP, CIT, CNX, DAL, DHR, DO, DOW, EMC, ERIC, ESV, ETR, FITB, GR, HBAN, HOT, HSY, JBLU, JNS, KMB, LCC, LH, LM, MCD, MJN, MMM, MRK, NCR, NIHD, NUE, NVS, NYT, ORI, OXY, PDS, PLD, PM, PNC, POT, R, RAI, RGC, RS, RTN, RX, SGP, STI, SY, T, TASR, TIN, TMO, TRA, TRV, UNP, UPS, XRX, ZMH Comment!

• Friday, October 16, 2009

• 10:26 AM Sony Ericsson (SNE, ERIC): Q3 loss of €164M ($245M) on sales of €1.62B (-42%). Handsets shipped declined 45% to 14.1M, with the average selling price up to €114 from €109. Market share of around 5%, and the company expects total market will shrink about 10%. [[SNE]] -1.5%, [[ERIC]] +0.8%. (MW) 1 Comment

• Tuesday, July 28, 2009

• 17:21 PM U.S. and Canadian courts approve Nortel's sale of its wireless unit to Ericsson (ERIC). (previously: I, II) Comment!
• 12:06 PM Resolving the many objections to Nortel's (NRTLQ.PK) proposed $1.13B unit sale to Ericsson (ERIC): Ontario's finance minister is pressing Canada to block the deal, to keep patents in Canadian hands. Flextronics (FLEX) settles its issues and withdraws objections. Nortel is still working out objections from Sprint Nextel (S), Motorola (MOT) and SNMP Research. Comment!

• Saturday, July 25, 2009

• 08:59 AM Ericsson AB (ERIC) will acquire Nortel's (NRTLQ.PK) wireless equipment unit for $1.13B cash. It won the Friday night auction for the North American assets. (via) Comment!

• Friday, July 24, 2009

• 06:59 AM Ericsson (ERIC): Q2 EPS of 0.26 kroner misses by 0.58 kroner. Revenue of 52.1B kroner vs. consensus of 50.58B. Gross margin 36.3% vs. 37% a year ago. Notes continued growth in mobile subscriptions, although the growth rate has slowed. Shares -6.6% in Stockholm. (PR) Comment!
• 00:05 AM Notable earnings before Friday's open: ACI, ASH, BDK, DOV, ERIC, EXC, FO, IR, PNK, SEPR, SLB, TROW, WL Comment!

• Thursday, July 16, 2009

• 06:58 AM Sony Ericsson Mobile Communications (SNE, ERIC): Q2 loss of €213M on sales of €1.68B (-40%). Handsets shipped fell to 13.8M from 24.4M a year ago. Says market share fell to 5% from 6%. Gross margin down to 12% from 23% a year ago. (MW) Comment!

• Monday, July 13, 2009

• 08:38 AM Ericsson (ERIC) plans to spend $1.5B in South Korea over the next five years to develop high-speed wireless technology backed by AT&T (T) and Verizon Wireless (VZ). Comment!

• Thursday, July 9, 2009

• 12:41 PM Sprint Nextel (S +3.5%) and Ericsson (ERIC +0.6%) ink a seven-year, $5B deal in which Sprint will turn over day-to-day operations of its network to ERIC, and focus on developing new products and serving its customers better. Sprint will move about 6,000 workers to Ericsson. Comment!

• Thursday, May 7, 2009

• 11:29 AM Sony (SNE) and Ericsson (ERIC) are considering a capital injection or acting as guarantors on a loan for their joint venture, Sony Ericsson. The JV is burning through cash amid plunging handset sales, and its lack of a competitor to Apple's (AAPL) iPhone. Comment!

• Monday, May 4, 2009

• 07:51 AM Sprint (S) is in advanced talks to outsource its cellular network management to LM Ericsson Telephone (ERIC) and transfer 5,000-7,000 U.S. employees to Ericsson. Sprint is trying to cut costs as it faces dwindling subscriber numbers. Comment!

• Thursday, April 30, 2009

• 06:49 AM LM Ericsson Telephone (ERIC): Q1 EPS of $0.54 misses by $0.17. Revenue of $49.6B (+12.2%) vs. $42.3B. Shares -5.8% premarket. (PR) Comment!