ADRs of Swedish telecommunications company Ericsson (ERICY) were down 1% at midday, recovering from a morning low of $6.81. In late morning, the company said its goal was to be cash-flow positive for the full-year 2001, adding that it expects the market to begin to recover in the second half.
The company said its second-quarter earnings would not improve over the first. According to
Thomson Financial/First Call
, analysts are expecting a second-quarter loss of 5 cents a share, compared to the first quarter's 6 cents.
was down 3.3% and
was down 3.4%.