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"We Didn’t Know Things Were This Bad" - Ericsson Shares Plunge 17% After Shocking Profit Warning

Our condolences to anyone long Swedish telecom giant Ericsson, who will observe the following chart first thing upon waking up today. The reason for Ericsson's 17% crash, is that the Swedish network maker reported a surprising slump in third-quarter sales and profitability, warning investors that its business was deteriorating faster than expected, with no turnaround in sight.
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