Word: analysts
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...slashing the workforce to 47,000, less than half its size two years ago. Even with declining sales, he promises a return to profitability by late this year. "Barring any further shocks, they should make it back to profit by the fourth quarter," says Per Lindberg, a telecom analyst at Dresdner Kleinwort Wasserstein in London. Though locks are relatively low tech, Svanberg - the first outsider chosen to lead Ericsson since 1942 - says he'll succeed by using the skills he picked up at Assa Abloy. "I took over a lot of companies in bad shape," he says. "We were constantly...
This Wall Street merger held the potential for big trouble from the start. Holly Becker, an influential Internet stock analyst, could bump share prices up or down with a few well-chosen words. Michael Zimmerman, a trader at a hedge fund with billions to invest, was constantly shifting money in and out of stocks that looked ripe for sudden movement. Once the two began dating, all it would take for Zimmerman to make a fortune for his firm would be for Becker to whisper the names of stocks she soon would upgrade or downgrade-and for Zimmerman to bet early...
...Becker is the latest star analyst to face a public rebuke, following Henry Blodget of Merrill Lynch and Jack Grubman of Salomon. Both men resigned after being caught touting stocks about which they had internally expressed doubts-and which provided lucrative banking business to their employers. With regulators set to go public this week with e-mail and other documents from a long investigation of research practices, more stars are likely to fall...
...which are investing billions of dollars to deliver fancy 3G data services over your cell phone or laptop at slower rates and steeper fees. Yet there's no proof consumers will pay. "No wireless data-only network in the world has ever made money," warns Andrew Seybold, a wireless analyst based in Los Gatos, Calif. That so many have rushed to invest in Wi-Fi is, he predicts, "the next dotcom disaster...
...said recently, as he announced plans to raise $1 billion by selling Bombardier's recreational-products division, which makes popular Sea-Doo watercraft and Ski-Doo snowmobiles. "We have taken the measures to ensure we will be ready when the business-jet market picks up." But as Merrill Lynch analyst Ronald Epstein points out, Embraer doesn't depend on business-jet sales, and it has invested heavily in regional-jet R. and D. during the market downturn...