Why Ericsson Stock Soared 17%
On Friday, Ericsson (ERIC) stock surged more than 17% after the telecom equipment maker posted profits for the first quarter of 2018. Ericsson closed the day up $1.14 at $7.78 on the company’s better-than-expected earnings in 1Q18. The company noted that its turnaround strategy has been bearing fruit, which is helping to reduce losses and boosting investors’ confidence, as is reflected in the stock price.