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Updated from 8:31 a.m. EDT
Shares of Motorola (MOT Quote) sank Thursday after the handset maker swung to a third-quarter loss, guided lower for the year and announced it would delay the separation of its mobile phone business.
The struggling Schaumburg, Ill., tech giant swung to a loss of $397 million, or 18 cents a share, in the third quarter, compared with a profit of $60 million, or 3 cents a share, in the year-ago period. Excluding one-time items, Motorola had a profit of 5 cents a share.
Sales for the first quarter were $7.48 billion, down 15% from a year earlier. Gross margin declined to 24.1% from 28.8% a year ago and 28.4% sequentially. ...
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