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Ericsson (ERIC) NewsBite - LM Ericsson Down on NOK Warning

Sep 05, 2008 (Fresh Brewed Media via COMTEX) --

Companies: Telefonaktiebolaget LM Ericsson (ERIC)

Ericsson (NasdaqNM: ERIC) opened at $10.34. So far today, the stock has hit a low of $10.23 and a high of $10.37. ERIC is now trading at $10.26, down $0.27 (-2.56%). The stock hit its 52-Week high of $41.96 in October and set its 52-Week low of $10.00 in March. LM Ericsson Telephone shares have been dropping today after Nokia (NOK) warned today it expects its market share to slip in the third quarter because of weaker consumer confidence in multiple markets. Technical indicators for the stock are neutral and S&P gives ERIC a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ERIC the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 12.50 range.

ABR-Seven Summits Strategic Investments NewsBite Goto www.iotogo.com/18w1 for our free report titled, The 18 Ways To Know When It's Time To Dump A Stock

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Companies: Telefonaktiebolaget LM Ericsson (ERIC)


Related terms: consumer confidence, market share, S&P

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