Motorola Slides 8.9% on Warning
Motorola (MOT) was down 8.9% in preopen Instinet trading after the company said it would miss its first-quarter sales and earnings estimates, which were last issued in January. The mobile phone maker said it could post an operating loss if the economic slowdown persists.
Among other wireless phone companies,
Nokia
(NOK) - Get Nokia Corporation Sponsored American Depositary Shares Report
was down 7.5% on Instinet and
Ericsson
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was down 4.6% in preopen
Island
trading.
Goldman Sachs
downgraded Nokia from its recommended list to market outperformer.
