Dallas, TX 10/29/2009 10:03:37 PM
News / Business

Stock News - Motorola (NYSE:MOT) Lifts Guidance, Stock Up 9%

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Shares of Motorola, Inc. (NYSE:MOT)  are trading 9% up at $8.69 after it swung to a third-quarter gain of $12 million, or a penny a share, from a loss of $397 million, or 18 cents a share in the year-ago period. Excluding a charge of a penny a share for one-time items, Motorola earned 2 cents a share. Sales fell to $5.45 billion from $7.48 billion. Wall Street analysts expected breakeven earnings per share and sales of $5.55 billion, according to a survey by FactSet Research. Motorola expects fourth-quarter adjusted earnings of 7-to-9 cents a share, compared to the Wall Street target of 5 cents a share. Motorola also named Edward Fitzpatrick as chief financial officer. He had been acting CFO of the company since February.

 

Motorola, Inc. (Motorola) is engaged in providing technologies, products and services for mobile phones. The Company’s portfolio includes wireless handsets, wireless accessories, digital entertainment devices, wireless access systems, voice and data communications systems, and enterprise mobility products.


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