|Day's range||397.10 - 398.70|
|52-week range||260.70 - 415.70|
|PE ratio (TTM)||4.13|
|Dividend & yield||1.24 (2.71%)|
|1y target est||408.08|
Ericsson is cutting about a fifth of its Swedish workforce and hundreds of consultants as demand for its network equipment shrinks and competition from China's Huawei and Finland's Nokia intensifies. The 3,900 job cuts remove most of Ericsson's remaining manufacturing presence at home, where it had 5 percent of global production, and come before it has found a new chief executive to replace Hans Vestberg, who was pushed out in late July as major investors revolted over the Swedish firm's performance. Failure to offset waning demand for telecom equipment has caused Ericsson shares to lose a quarter of their value this year and politicians and unions had scrambled in recent weeks to save jobs at the company, which was founded in 1876 as a maker of telegraph equipment and is one of Sweden's biggest employers with a global staff of 116,500.
With a pledge to hold on to its business making power grid equipment, ABB Ltd. has won a round in a protracted battle with Swedish activist shareholder Cevian Capital AB, which wants the Swiss engineering ...