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Motorola Reportedly Affirms

It's on track to meet analysts' fourth-quarter target of 13 cents a share.
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Motorola

(MOT)

affirmed it is "on track" to meet earnings and revenue targets for the fourth quarter, according to

Reuters

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.

For the fourth quarter, analysts polled by First Call expect the company to earn 13 cents a share on revenue of $7.7 billion. For full-year 2003, analysts expect the company to earn 21 cents a share on revenue of $26.7 billion, vs. earnings of 10 cents a share on revenue of $26.2 billion in 2002.

The stock is unchanged in pre-market Instinet trading at $12.77, but is up 41% for the year. It reached a 52-week high of $14.40 in early November at about the same time that departing Chairman and CEO Christopher Galvin agreed to remain with the company in a consulting role for two years.

The company announced in September that Galvin had decided to leave the company due to differences with the board regarding Motorola's turnaround strategy.