Technology stocks were lower in late trade, with shares of
technology companies in the S&P 500 falling about 0.9%.
In company news, Ericsson (
) shares were down about 0.7% at $11.94 each in late trade
following reports CEO Hans Vestberg told directors he has no plans
to step down from the mobile telephone manufacturer - squashing
market speculation he is in the running to succeed current CEO
Steve Ballmer at Microsoft (
Directors were ready to look at a list of potential successors
in case he was chosen by Microsoft as CEO, a person familiar with
the matter told Bloomberg today.
MSFT was up slightly more than 1% at $36.65 just ahead of the
In other sector news,
(+) FSL, Earns $0.19 per share in Q4, beating the consensus by
$0.01. Revenue rises 13.1% year over year to $1.08 bln, also
topping analyst estimates by around $30 mln. Projected Q1 revenue
of $1.07 bln to $1.11 bln exceeds Street view by $30 mln.
(-) CRUS, Shares fall for a second day as the chip-maker
forecast revenue during the current quarter trailing the Wall
Street consensus. The stock also declined Tuesday after Apple Inc (
) - which has been responsible for over 80% of the company's sales
- reported weaker than expected iPhone sales.
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