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☆ 'India built out 5G at a pace we have not seen anywhere else,' says Ericsson CEO
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'India built out 5G at a pace we have not seen anywhere else,' says Ericsson CEOBörje Ekholm, CEO of Ericsson, discusses earnings and his market outlook with CNBC.

Persons: Börje Ekholm Organizations: Ericsson, CNBC Locations: India

☆ Ericsson warns of 2024 market decline despite Q4 earnings beat
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: +2 min

Ericsson said it expects further decline in 5G gear demand from mobile operators this year after beating fourth-quarter operating profit expectations on Tuesday helped by software sales. Telecoms equipment suppliers are expecting a challenging 2024 as 5G equipment sales - a key source of revenue - are slowing in North America, while India, a growth market, may also see a slowdown. That was mostly due to higher-margin software sales and lower sales of 5G equipment to lower-margin countries such as India. Ericsson said it would get a boost in the second half of the year from a $14 billion telecom deal with AT&T that it won over rival Nokia. The company on Tuesday also appointed Lars Sandstrom as chief financial officer, replacing long-time company veteran Carl Mellander.

Persons: Carl Mellander, Mellander, Börje Ekholm, Ericsson, Lars Sandstrom Organizations: Ericsson, Nokia, RAN, Radio Locations: North America, India, China

☆ The 4 most important things we're watching in the stock market this coming week
▼ + stars: | 2024-01-20 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Fortunately, we'll get useful information in the coming weeks as earnings season ramps up and updated inflation data is released. We really want to see more supply come into the market to provide some relief on shelter costs. Looking to next week, we'll get a several key economic updates and a ramp up of earnings releases. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Morgan Stanley, we'll, Procter & Gamble, we've, We're, we're, We'll, Forex, Brown, BRO, Zions, CrossFirst, Johnson, Lockheed Martin, Horton, ERIC, Baker Hughes, Abbott, ABT, Clark, BOK, Monro, Simmons, United Community Banks, Lam, Ethan Allen Interiors, Raymond James Financial, Sherwin, Williams, Northrop, Murphy, Arthur J, Levi Strauss, LEVI, Booz Allen, Jim Cramer's, Jim Cramer, Jim, John Gress Organizations: Nasdaq, Microsoft, Nvidia, Tesla, Apple, Bank of America, Reserve, Procter, Gross, Citigroup, of Hawaii, United Airlines, Logitech International S.A, AGNC Investment, Agilysys Inc, Great Southern Bancorp, Enterprise Financial Services, Independent Bank, Home Bancorp, RBB Bancorp, TrustCo Bank Corp, Gamble Co, Verizon Communications, 3M Company, General Electric Co, GE, RTX Corporation, Halliburton Company, HAL, Lockheed, Ericsson, Bank, GATX Corporation, MakeMyTrip, National Bancorp, Synchrony, Webster, Atlantic Union Bankshares Corporation, Invesco PLC, Peoples Bancorp Inc, Sandy Spring Bancorp, Netflix, Texas Instruments Incorporated, Steel Dynamics, Canadian National Railway Company, NBT Bancorp, East West Bancorp, Covenant Logistics Group, Inc, Hanmi, National Bank Holdings Corporation, Premier Financial, QCR Holdings, Renasant Corporation, Triumph, Veritex Holdings, ASML, SAP, Textron, Oriental Education, Technology Group, First BanCorp, General Dynamics, OFG Bancorp, Prosperity, TE Connectivity, United Community, Blue Foundry Bancorp, Capitol Federal, HBT, Teledyne Technologies, Business Machines, IBM, Las Vegas Sands Corp, Lam Research, United Rentals, Berkley Corp, Crown, International, Packaging Corporation of America, Seagate Technology plc, CACI, Swift Transportation Holdings, Ameriprise Financial, Concentrix Corporation, First Bank, Liberty Energy, Pathward Financial, Columbia Banking, CSX, American Airlines Group, NextEra Energy Inc, Alaska Air Group, Dow Chemical Co, Valero Energy, Southwest Airlines Co, Nextera Energy, Williams Co, Union Pacific, Applied Industrial Technologies, Mobileye, Northrop Grumman, Comcast, Nokia, TAL Education, McCormick & Company, Intel, Visa Inc, Gallagher, Co, KLA Corporation, Western Alliance, Mobile, L3Harris Technologies, Western, Olin Corporation, American Express Co, Booz, Booz Allen Hamilton Holding, Colgate, Palmolive Co, Norfolk Southern Corporation, Jim Cramer's Charitable, CNBC, Gamble's Locations: Procter &, U.S, China, ZION, Freeport, Kimberly, Las, W.R, Chicago

☆ Here are Friday's biggest analyst calls: Nvidia, Netflix, Apple, Starbucks, Marvel, Coinbase, IBM, Amazon & more
▼ + stars: | 2024-01-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs upgrades Fiverr to buy from neutral Goldman said the Israeli online marketplace is well positioned for AI. Bank of America reiterates Amazon as buy Bank of America said it's standing by its buy rating on Amazon shares. Bank of America downgrades Celsius to neutral from buy Bank of America says it sees "uncertainty to sales momentum" for the energy drink company. Deutsche Bank names Starbucks a top pick Deutsche says it sees an improved same-store sales environment for Starbucks in 2024. Bank of America upgrades Teekay Tankers to buy from neutral Bank of America upgraded the tanker stock due to "rising rate upside."

Persons: Stifel, McKhann, thoughtfully, Goldman, Goldman Sachs, FVRR, Raymond James, TXN, Oppenheimer, Morgan Stanley, ASML, Citi downgrades Blackstone, Carlyle, it's bullish, headwinds, Evercore, Price, Apple Evercore, Janney, Jefferies, Hertz Organizations: Broadcom, Semiconductor, Enterprise, Nvidia, Bank of America, Amazon, North, Holdings, Netflix, Deutsche Bank, Starbucks, Deutsche, SSS, UBS, Texas, Barclays, Nokia, Ericsson, Citi downgrades, Citi, BMO, Marvel, " Bank of America, United Rentals, of America, IBM, Enterprise IT, Apple, Shoals Technologies, Inc, HSBC, Discover, Motorola Solutions, HERTZ Locations: North America, 4Q, 2026E, CY24

☆ Stocks making the biggest moves midday: Apple, Nio, CVS Health, GitLab and more
▼ + stars: | 2023-12-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading. Nio — The Chinese automaker climbed about 3% after reporting a smaller-than-expected loss in the third quarter. Nio has taken steps to bring down costs recently, including a 10% cut to its workforce last month. CVS Health — Shares gained 4% after CVS said it would overhaul the way it prices prescription drugs . GitLab — The software company's shares jumped more than 12% a day after the company reported better-than-expected results for the fiscal third quarter.

Persons: Nio, GitLab, Adecoagro, Albemarle —, Piper Sandler, —, Samantha Subin, Hakyung Kim, Sarah Min, Alex Harring, Pia Singh, Michelle Fox Organizations: Apple, Bank of America, CVS, FactSet, UBS —, UBS, Suisse, Nokia, Ericsson —, Ericsson's, Ericsson, Albemarle Locations: China, U.S, Monday's, Ericsson's U.S, Sweden, Finland

☆ Nokia plunges to three-year low after losing major AT&T deal to rival Ericsson
▼ + stars: | 2023-12-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Shares of Finland's Nokia plunged to a three-year-low, as the telecoms company lost out on a major deal to roll out a new telecoms network in the U.S. with industry juggernaut AT&T. Helsinki-listed Nokia shares were down 7% at 9:40 a.m. London time on the news that AT&T will be partnering with Swedish rival Ericsson, which will manufacture 5G equipment for the project at its factory in Lewisville, Texas. AT&T spend is set to be near $14 billion over its five-year contract with Ericsson, the companies said late Monday. The partnership covers the deployment of an open radio access network (Open RAN) in the U.S., which AT&T expects to use for 70% of its wireless network traffic by late 2026. Nokia CEO Pekka Lundmark called the news "disappointing," but said that the company remained "fully committed" to Open RAN and had a strategy to diversify its business and improve profitability.

Persons: Pekka Lundmark Organizations: Ericsson, Nokia, Helsinki, Swedish, RAN Locations: U.S, London, Lewisville , Texas, Stockholm

☆ Ericsson shares rally on AT&T network deal, Nokia drops
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: 1 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo Acquire Licensing RightsDec 5 (Reuters) - Ericsson (ERICb.ST) shares rallied in early trading on Tuesday after AT&T (T.N) chose the Swedish telecoms equipment maker over Finnish rival Nokia (NOKIA.HE) to build a network under a five-year deal that could see spending reach $14 billion. Ericsson rose around 8% on German trading platform Tradegate, while Nokia fell 9%. Reporting by Danilo Masoni; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Hagberg, Danilo Masoni, Amanda Cooper Organizations: Ericsson, REUTERS, Nokia, Thomson Locations: Kanata , Ontario, Canada

☆ Waymo is full speed ahead as safety incidents and regulators stymie competitor Cruise
▼ + stars: | 2023-12-05 | by ( Hayden Field | ) www.cnbc.com time to read: +6 min

Waymo, Alphabet 's self-driving car unit, is having a relatively good couple of months – at least, compared to one of its key rivals: GM 's Cruise. When Cruise began offering fully autonomous rides in San Francisco in the winter of 2022, Waymo followed in the fall. Now, after a barrage of safety concerns and incidents with Cruise self-driving cars in recent months, the landscape looks starkly different. I have worked with pretty high-scale systems before Waymo, at Google and Ericsson, and this is a pretty staggering scale. [Note: Waymo recently shared that Waymo riders took more than 700,000 trips in autonomous vehicles in 2023.]

Persons: Cruise, Waymo, Saswat Panigrahi, you've, –, … Organizations: Google, Cruise, California Department of Motor Vehicles, GM, CNBC, Ericsson, Phoenix Locations: Phoenix, San Francisco, Austin, Buffalo , New York, California, U.S

☆ Stocks making the biggest moves premarket: GitLab, CVS Health, Take-Two Interactive & more
▼ + stars: | 2023-12-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The company posted its first adjusted operating profit and said revenue grew 32% year over year. CVS Health —The pharmacy stock climbed 3% in premarket trading after the company provided higher-than-expected revenue guidance for 2024. The auto parts retailer posted earnings of $32.55 per share, topping the FactSet consensus estimate of $31.57 per share. Smucker — Shares of the snack food company rose 3% in premarket trading after J.M. Adecoagro — The Latin American agriculture stock rose 2.3%.

Persons: GitLab, Johnson, Johnson — Johnson, Piper Sandler, AutoZone, Smucker, Adecoagro, —, Jesse Pound, Brian Evans, Sarah Min, Michelle Fox Organizations: CVS Health, CVS, FactSet, Rockstar, Nokia, Ericsson —, Ericsson, UBS, Bank of America, Suisse Locations: Finland, Sweden, Adecoagro

☆ AT&T Drops Nokia for Ericsson in $14 Billion Deal
▼ + stars: | 2023-12-04 | by ( Drew Fitzgerald | ) www.wsj.com time to read: 1 min

AT&T said its shift to Ericsson will fast-track its network overhaul and allow it to buy hardware and software from a broader range of suppliers in future years. Photo: patrick t. fallon/Agence France-Presse/Getty ImagesAT&T struck a deal with Ericsson to buy up to $14 billion of its hardware and services after the Swedish equipment supplier pledged to open up its software to competing systems. The five-year agreement would move virtually all of AT&T’s new purchases of certain cell-tower equipment to Ericsson, replacing existing machinery from Finnish rival Nokia in many markets. The Dallas-based telecom giant said it plans to start the swap next year and aims to have 70% of its wireless network traffic passing through open platforms by late 2026.

Persons: patrick Organizations: Ericsson, fallon, Agence France, Getty, Nokia Locations: Swedish, Dallas

☆ AT&T chooses Ericsson for new U.S telecom network, will drop Nokia
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

New networks by Dish and Japan's Rakuten use Open RAN. "All of the new equipment that we are going to be putting out will be Open RAN capable," Chris Sambar, president of AT&T Network, told Reuters. Winning the Open RAN deal will make Ericsson the largest supplier to AT&T as it slowly takes over Nokia's share, the company said. AT&T will still have contracts which other Open RAN vendors outside this deal. AT&T expects fully integrated Open RAN sites operating in coordination with Ericsson and Fujitsu, starting in 2024.

Persons: Chris Sambar, Sambar, You've Organizations: Ericsson, Mobile, Nokia, Huawei, Telefonica, Vodafone, Dish, RAN, AT, T Network, Reuters, Samsung, Verizon, U.S ., Fujitsu Locations: Barcelona, Spain, ORAN, United States, New York

The AT&T logo is seen on a store in Golden, Colorado United States July 25, 2017. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsSTOCKHOLM, Dec 4 (Reuters) - AT&T (T.N) said on Monday it plans to use so-called ORAN technology for 70% of its wireless network traffic in the United States by late 2026 and will move from two telecom vendors to one. While the technology has been tested by several telecom providers, it has not been widely adopted. AT&T's push for the technology will likely be a major boost for Open RAN. The U.S. telecom company's spending could approach roughly $14 billion over the five-year term of the contract with that one vendor, the company said.

Persons: Rick Wilking, Supantha Mukherjee, Matthew Lewis Organizations: Golden , Colorado United, REUTERS, Rights, Open RAN, Ericsson, Nokia, Thomson Locations: Golden ,, Golden , Colorado United States, ORAN, United States, U.S, Stockholm

New networks by Dish (DISH.O) and Japan's Rakuten (4755.T) use Open RAN. "All of the new equipment that we are going to be putting out will be Open RAN capable," Chris Sambar, president of AT&T Network, told Reuters. Winning the Open RAN deal will make Ericsson the largest supplier to AT&T as it slowly takes over Nokia's share, the company said. AT&T will still have contracts which other Open RAN vendors outside this deal. AT&T expects fully integrated Open RAN sites operating in coordination with Ericsson and Fujitsu (6702.T), starting in 2024.

Persons: Brendan McDermid, Japan's Rakuten, Chris Sambar, Sambar, You've, Supantha Mukherjee, Matthew Lewis Organizations: New York Stock Exchange, REUTERS, Rights, Ericsson, Nokia, Huawei, Telefonica, Vodafone, RAN, AT, T Network, Reuters, Samsung, Verizon, U.S ., Fujitsu, Thomson Locations: New York, U.S, ORAN, United States, Stockholm

☆ 5 tips to keep your 5G network secure
▼ + stars: | 2023-11-28 | by ( Chris Stokel-Walker | ) www.businessinsider.com time to read: +6 min

To keep your enterprise 5G network secure, start by choosing a reputable provider. Whether you use those providers for your enterprise 5G network or build your own private 5G network, it's important to keep things secure. Update regularly, and use multifactor authenticationIt's one thing to build your 5G network securely — it's another challenge to keep it safe. "Ensure all devices connected to the 5G network are regularly updated to patch known vulnerabilities," he said. For that reason, education should be a huge part of keeping your 5G network secure.

Persons: —, Sandeep Raithatha, Alan Woodward, Woodward, eSIMs, Parm Sandhu, Sandhu, Alan Jones, Keith Brownsword Organizations: Service, Ericsson, 5G, Virgin Media O2, University of Surrey, NTT Ltd, 5G's Locations: Ireland

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. "As European digital industry representatives, we see a huge opportunity in foundation models, and new innovative players emerging in this space, many of them born here in Europe. The signatories, who said just 3% of the world's AI unicorns come from the European Union, backed a joint proposal by France, Germany and Italy to limit the scope of AI rules for foundation models to transparency requirements. They also said the current broad scope of the draft AI rules could clash with existing legislation in certain sectors such as healthcare. The companies also rebuffed calls from creative industries for the AI rules to tackle copyright issues.

Persons: Dado Ruvic, DigitalEurope, Georgina Prodhan, Foo Yun Chee, Sharon Singleton Organizations: REUTERS, Rights, Airbus, European Union, Apple, Ericsson, Google, LSE, SAP, Siemens, Thomson Locations: BRUSSELS, Europe, France, Germany, Italy

☆ USITC opens section 337 investigation of certain electronic devices
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Nov 14 (Reuters) - The U.S. International Trade Commission voted to begin a Section 337 investigation of electronic devices including mobile phones, tablets, laptops and components, according to a statement. USITC identified Motorola Mobility LLC, Lenovo Inc., Lenovo Group Limited, Lenovo Beijing Co as among the respondents. It said the investigation was based on a complaint filed by Ericsson AB and Telefonaktiebolaget LM Ericsson of Stockholm. Reporting by Doina ChiacuOur Standards: The Thomson Reuters Trust Principles.

Persons: Telefonaktiebolaget LM, Doina Organizations: U.S . International Trade Commission, Motorola Mobility, Lenovo Inc, Lenovo Group Limited, Lenovo Beijing, Ericsson AB, Telefonaktiebolaget, Telefonaktiebolaget LM Ericsson of Stockholm, Thomson

India is considering a policy to mandate equipping smartphones with hardware to receive live TV signals without the need for cellular networks. It has proposed use of so-called ATSC 3.0 technology popular in North America that allows precise geo-locating of TV signals and provides high picture quality. The policy pushback is the latest from firms operating in India's smartphone sector. For India's government, the live TV broadcast features are a way to offload the congestion on telecom networks due to higher video consumption. Samsung tops India's smartphone market with a 17.2% share, while Xiaomi follows with a 16.6% share, according to research firm Counterpoint.

Persons: Shailesh Andrade, Munsif Vengattil, Aditya Kalra, Raju Gopalakrishnan Organizations: REUTERS, Samsung, Qualcomm, Reuters, Ericsson, Nokia, India Cellular and Electronics Association, Apple, Thomson Locations: Mumbai, India, DELHI, North America, South Korea, United States

[1/2] An Ericsson sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 5, 2020. REUTERS/Aly Song Acquire Licensing RightsBRUSSELS, Nov 6 (Reuters) - Electronics makers Siemens (SIEGn.DE), Ericsson (ERICb.ST) and Schneider Electric (SCHN.PA), along with industry group DigitalEurope warned on Monday that onerous proposed EU rules targeting cybersecurity risks of smart devices could disrupt supply chains on a scale similar to during the pandemic. They said disruptions could hit millions of products, ranging from washing machines to toys, cybersecurity products, as well as vital components for heat pumps, cooling machines and high-tech manufacturing. "We risk creating a COVID-style blockage in European supply chains, disrupting the single market and harming our competitiveness," the companies said. They also want more flexibility to self-assess cybersecurity risks.

Persons: Aly, Thierry Breton, Vera Jourova, Robert Bosch, Foo Yun Chee, Rod Nickel Organizations: Ericsson, China, REUTERS, Rights, Electronics, Siemens, Schneider, European, European Union, Nokia, Robert, Robert Bosch GmbH, EU, Thomson Locations: Shanghai, China, Rights BRUSSELS, EU, Slovakian

As demand has slowed in countries such as the United States, Nokia and rival Ericsson (ERICb.ST) have tried to offset some of the weakness with higher sales to India, a low-margin market. Nokia is targeting savings of between 800 million euros ($842 million) and 1.2 billion euros by 2026, its deadline to deliver a long-term comparable operating margin plan of at least 14%. Nokia expects at least 400 million euros of savings in 2024, and a further 300 million euros in 2025. Quarterly comparable net sales fell to 4.98 billion euros from 6.24 billion last year, missing an estimate of 5.67 billion euros according to a LSEG poll. "There are signs here and there that demand would start to pick up again but it's too early to call it a broad-based trend," Lundmark said.

Persons: Albert Gea, Pekka Lundmark, Lundmark, it's, Supantha Mukherjee, Anne Kauranen, Anna Ringstrom, Clarence Fernandez, Barbara Lewis Organizations: Mobile World Congress, REUTERS, STOCKHOLM, Nokia, Ericsson, Reuters, Thomson Locations: Barcelona, Spain, American, HELSINKI, Finnish, United States, India, North American, China, Stockholm, Helsinki

HELSINKI (AP) — Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit. The company said it is aiming to slash 800 million euros ($843 billion) to 1.2 billion euros in costs by the end of 2026. That is expected to lead to a reduction from 86,000 employees to between 72,000 and 77,000 over that time period. Nokia’s third-quarter sales plummeted 20%, to 4.98 billion euros from 6.24 billion in the same three-month period last year. The company’s biggest unit by revenue — the mobile networks business — declined 24% to 2.16 billion euros, driven mainly by weakness in the North American market.

Persons: it's, Pekka Lundmark, Lundmark, China’s, ” Lundmark, — Organizations: HELSINKI, — Telecom, Nokia, Ericsson, China’s Huawei, South, Samsung, “, North, North America nosedived Locations: Finnish, North American, North America, India

☆ Nokia layoffs: Company will slash up to 14,000 jobs
▼ + stars: | 2023-10-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Nokia will slash up to 14,000 jobs in a major cost-cutting drive to address a “weaker” market environment, it said in a statement on Thursday. The move will help the company reduce staffing expenses by 10% to 15%, and save at least €400 million ($421.4 million) in 2024 alone, the company projected. Overall, it said the reductions are expected to trim Nokia’s costs by up to €1.2 billion (nearly $1.3 billion) cumulatively by the end of 2026. “The most difficult business decisions to make are the ones that impact our people,” CEO Pekka Lundmark said in the statement. “We have immensely talented employees at Nokia and we will support everyone that is affected by this process.”The announcement came on the same day that Nokia reported worse-than-expected results.

Persons: Pekka Lundmark, Nokia’s, “, Lundmark Organizations: Hong Kong CNN — Nokia, Nokia, ” Mobile, Ericsson Locations: Hong Kong, India

☆ Nokia to cut up to 14,000 jobs after 69% profit plunge
▼ + stars: | 2023-10-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Nokia new logo displayed on mobile, with Nokia logo on screen. Nokia on Thursday said it would cut up to 14,000 jobs as part of a cost reduction plan following a plunge in third-quarter earnings. It is targeting to lower its cost base on a gross basis from 2023 by between 800 million euros ($842.5 billion) and 1.2 billion euros by the end of 2026. The substantial layoffs come after Nokia reported third-quarter net sales declined 20% year-on-year to 4.98 billion euros. Profit over the period plunged by 69% year-on-year to 133 million euros.

Organizations: Nokia, Ericsson

A general view of an exterior of the Ericsson headquarters in Stockholm, Sweden, January 24, 2020. The Swedish telecom equipment maker's shares fell 9% in early trade to lows last seen in 2017, when the company was going through another downturn. Gear makers such as Ericsson and Nokia (NOKIA.HE) have been hit by a slowdown in spending by telecoms companies. Mellander said the company had increased its previously announced 2023 cost saving target of 11 billion Swedish crowns ($1.01 billion), including the laying off 8,500 employees, to 12 billion crowns. India has been a rare growth area with sales quadrupling to about 10 billion crowns, but that is expected to slow down next year.

Persons: Fredrik Sandberg, Carl Mellander, Mellander, Borje Ekholm, Supantha Mukherjee, Terje Solsvik, Kirsten Donovan Organizations: Ericsson, TT News Agency, REUTERS, Reuters, Gear, Nokia, Jefferies, Thomson Locations: Stockholm, Sweden, India, STOCKHOLM, North America, Swedish

☆ European markets flat with earnings and the Middle East in focus
▼ + stars: | 2023-10-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were muted on Tuesday, with corporate earnings season getting underway as investors continue to assess the turmoil in the Middle East. The European blue chip index closed Monday's session 0.2% higher, but futures point to marginal declines at Tuesday's open. U.S. stock futures were slightly lower in early premarket trade as third-quarter earnings season gathers momentum. Ericsson, Rio Tinto and Publicis are among the major European companies set to announce quarterly results on Tuesday, before Wall Street titans Bank of America and Goldman Sachs report ahead of the market open stateside. The ZEW economic sentiment index for the euro zone is due at 10 a.m. London time on Tuesday.

Persons: Goldman Sachs, Joe Biden, Antony Blinken Organizations: Ericsson, Rio Tinto, Wall Street titans Bank of America, Investors, Israel Locations: Asia, Pacific, Gaza . U.S, U.S, London

☆ Ericsson CEO: U.S. demand down almost 50%
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEricsson CEO: U.S. demand down almost 50%Börje Ekholm, CEO of Ericsson, discusses third-quarter earnings and explains the company's strategy behind its acquisition of communications company, Vonage.

Persons: Ekholm Organizations: Ericsson

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