The Wall Street Stock Forecaster Hotline – Friday, February 6, 2009
Article Excerpt
MOTOROLA INC., $3.88, New York symbol MOT, reported that its 2008 sales fell 17.7%, to $30.1 billion from $36.6 billion in 2007. The drop was mainly caused by a 36% sales decline at Motorola’s cellphone business, which accounted for 40% of the company’s overall 2008 sales. Losses ballooned to $4.2 billion, or $1.84 a share, from $105 million, or $0.05 a share. If you exclude unusual items, including costs related to Motorola’s current restructuring, it would have earned $0.02 a share in 2008. The restructuring, mainly job cuts, should save the company $1.5 billion in 2009. To conserve cash, Motorola has suspended its quarterly dividend of $0.05 a share.
Motorola’s other businesses, wireless infrastructure and home equipment, remain profitable. The company also holds $7.0 billion in cash, or roughly $3.05 a share, and has $4.2 billion in debt. This should help it cope with the economic downturn.
Motorola is a hold.
MICROSOFT CORP., $19.66, Nasdaq symbol MSFT, is currently working on “Windows…
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