Motorola (MOT) NewsBite - Motorola Reports Better-Than-Expected Q2 Profit

Posted on Thursday, July 31, 2008 10:15 AM

Motorola Inc. (MOT) opened at 8.43. So far today, the stock has hit a low of 8.01 and a high of 8.44. MOT is now trading at 8.04, up 0.36 (4.27%). The stock hit its 52 week high of 19.68 in October and set its 52 week low of 6.62 in July. MOT has been dropping since October of last year. Motorola posted this morning a second quarter profit of $4 million, less than 1 cent per share, as the result of a sales increase across all units from the first quarter, helped by cost cuts. Analysts had been expecting a loss of 3 cents per share. Revenue slipped 7.4% to $8.1 billion, but that exceeded the $7.7 billion that analysts forecast. Motorola also announced it expects an operating profit of 6 cents to 8 cents per share for the full year. Technical indicators for the stock are bearish but slightly improving while S&P gives MOT a neutral 3 STARS (out of 5) hold rating. We will just watch this one for now. There are no trades that we like for MOT. [RHF - Seven Summits Strategic Investments NewsBite]