Motorola Muddles Forward

Updated from March 21

Motorola (MOT Quote) sank 4% early Thursday after the latest earnings debacle shook the company to its core.

Motorola warned late Wednesday that it will miss first-quarter sales targets by more than a billion dollars and post an unexpected loss. The Schaumburg, Ill., company, blaming the continued struggles of its handset unit, shook up management and set plans for a big share repurchase.

Motorola said it expects to lose 7 to 9 cents a share for the first quarter, on revenue of $9.2 billion to $9.3 billion. Analysts surveyed by Thomson Financial were looking for a 17-cent profit on sales of $10.46 billion. ...