Ericsson ( ERIC) is trending as the mobile telecom equipment-maker missed estimates due to slowing network sales. Ericsson reported earnings including restructuring charges of 3.3 billion Swedish crowns ($470.9 million), below forecasts of 3.5 billion Swedish crowns. Net income declined to 1.12 billion crowns ($172 million), also below estimates. Ericsson attributed the results to a slowdown in CDMA equipment sales in North America and reduced business activity in China, Russia and India. Ericsson has about 38% of the mobile network equipment market and is the global leader in the industry. Ericsson CEO Hans Vestberg said the long-term prospects for the company are strong as demand for new network equipment is expected to remain high due to smartphone sales, as well as the struggles the company's competitors are facing. Alcatel-Lucent and ZTE reported weak second-quarter results and issued profit warnings this week.
PayPal is another popular search. The online payment service has acquired Card.io for an undisclosed amount. Card.io offers technology that uses mobile phone cameras to scan credit cards. PayPal, which is owned by eBay ( EBAY), already uses the company's technology in its mobile payment service for small businesses, PayPal Here.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.