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Ericsson Plunges 21%: Going To Need Bigger Cuts, Says Street

Shares of telecom giant Ericsson  (ERIC) plunged $1.46, or 21%, to close at $5.55, after the company this morning warned Q3 revenue will come in “significantly lower” than the company expected, largely because of weakness for telecom sales in emerging markets. Sales plunged by 14% in the three months ended in September, the company said, […]
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