Updated from 12:25 p.m. EDTDeutsche Telekom ( DT) said that sales and earnings at its combined Internet and fixed-line operation would fall further this year, sending the stock lower by nearly 8%. Europe's largest telecom group said it expects revenue for its German fixed-line unit to fall between 4% and 6% in 2008 as it struggles to compete with cable all-in-one packages. Adjusted earnings before interest, taxes, depreciation and amortization at the German unit should decline by 5% to 8% this year, according to the company. Timotheus Hoettges, head of Deutsche Telekom's fixed-line operation, said during a conference call that revenue should stabilize by 2010. "Our fixed-line strategy is taking off and we will manage to stop revenue decline," he added. "We will succeed in slowing the sales decline compared to last year.'' Shares of Deutsche Telekom were falling $1.42, or 7.9%, to $16.58. Rival Vodafone ( VOD) was slipping 3.4% to $29.95, and Telefonica ( TEF - Get Report) was off 9% at $85.51. Know What You Own: Deutsche Telekom operates in the wireless communications industry, and some of the other stocks in its field include BT Group ( BR) and France Telecom ( FTE). These stocks were recently trading at ($40.80, -5.51%) and ($32.57, -4.58%) respectively. For more on the value of knowing what you own, visit TheStreet.com's Investing A-to-Z section.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Technology
Pinterest's Earnings Report Doesn't Justify Pressing the Panic Button
The social media platform's guidance isn't that bad in light of its spending and growth strategy, and some of its first-quarter numbers were pretty solid.
Booz Allen Has Been a Big Winner, but the Best May Be Yet to Come
A tech business of the future should ideally include units focused on cybersecurity, data analytics, digital transformation and consulting. That's actually the recipe for Booz Allen, one of the most successful but least applauded companies on the market.
Applied Materials' 2020 Outlook Provides Grounds for Cautious Optimism
Like other chip equipment makers, Applied is slogging through a rough 2019. But it outlined a case for better 2020 demand.
Nvidia Stops Issuing Full-Year Guidance: How Worried Should Investors Be?
The chipmaker posted a healthy quarter but now is declining to offer longer-term guidance to investors.