Ericsson Climbs on Stronger Margin Outlook
Mobile-phone maker Ericsson (ERICY ) raised its first-quarter gross margin forecast to above the 41.6% level attained in the fourth quarter of 2003. Ericsson cited better than anticipated benefits of cost of sales reduction activities. It says the first-quarter sales outlook is unchanged. S&P and Banc of America raised their estimates and price targets.
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