Ericsson Shocks Swedish Business Community with Profit Warning

October 13, 2016

Ericsson lost a sixth of its market value after the Swedish telecoms company issued a profit warning for the third quarter. It expects the operating income to be 300 million kronor compared to 5.1 billion kronor in the same quarter last year. For more details on how the Swedish business community is taking the news, stick with Sentifi.

sentifi top attentions october 13

Ericsson: Shocks the Swedish business community with its profit warning

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The company’s stock lost half of its values in the last 18 months. The company blamed poor demand in developing markets, not to mention its market is declining as well. The company is undergoing a major restructuring that is seeing a cut of 3,000 jobs in Sweden. CEO Jan Frykhammar had warned more dramatic measures could be taken to get the company back on track.

Suzuki Motor & Toyota Motor: Consider a partnership

Two of Japan’s largest carmakers are considering a partnership that focuses in R&D, environment, safety and information technology. The partnership will also grant Toyota access to India’s market and help Suzuki keep up with the changing auto industry.

Stanley Black & Decker: Is exposed to insider selling

President of the company James Cannon, along with VP and Chief Information Officer Rhonda Gass, recently disposed a total of 4,018 shares.

Falcon Private Bank: Swiss federal prosecutors open criminal proceedings against the bank

The Zurich-based bank allegedly failed to prevent money laundering linked to Malaysian state fund 1MDB, thus facing criminal proceedings from Swiss regulators. It is the second Swiss bank after BSI that faces criminal investigations over links to 1MDB. At least six countries are involved in the case, with Switzerland, Singapore and the U.S. having been named so far.

Alcoa: Shares fall 7 percent after Q3 earnings miss forecasts

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The company reported Q3 net profit of 33 cents per share, a huge step-up from 6 cents per share in the same quarter last year. Unfortunately, analysts were hoping for 35 cents per share.

Monarch Airlines: Secures ATOL license for another 12 months

The problem-ridden airline is able to secure its ATOL license for another 12 months that will allow it to continue selling flights, thanks to a £165 million bailout from Greybull Capital. The company pledges to reassure its customers about its long-term future.

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