Another Challenging Quarter for Ericsson as Foreign Exchange Headwinds Pick Up; Maintaining $8 FVE
Ericsson reported fourth-quarter results largely in line with our expectations. The company announced that it divested a larger part of its media portfolio to One Equity Partners and will become a minority owner with a 49% stake. We welcome this outcome, since the media segment was struggling with profitability. While Ericsson expects the RAN market to decline 2% in 2018, the company confirmed its long-term goal of reaching 10% adjusted operating margin by 2020. We continue to believe that the f...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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