7 ordspråk av Greger Johansson
Greger Johansson
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I think the share price will open unchanged or dip somewhat due to the fact that both the gross and operating margin were lower than expected.
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Nokia will have a tough time boosting its margins in the future given the tough competitive climate.
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We expect strong fourth-quarter results but foresee abating organic growth and falling margins in 2006.
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The read-across from particularly Lucent, but also Motorola, on Ericsson is limited.
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Ericsson's results for the fourth quarter were acceptable. Sales growth was stronger than anticipated but margins weaker. This is not likely to move the shares.
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The results were very upbeat. However, Sony Ericsson may have lost market share compared to the fourth quarter as the overall market was very strong in the first quarter.
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The mobile systems side is doing well, but Marconi and the fixed-line side are weighing heavily.
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