Motorola Mobility Holdings (NYSE: MMI) shares plummeted Thursday after an earnings announcement that slightly exceeded analysts’ expectations, but also acknowledged some weakness in its smartphone business. MMI also forecasted a loss for quarter one 2010, which was not what analysts had anticipated. Investors took heed and the stock fell from $34.83 to $30.51–a more than 12 percent drop.
MMI wasn’t the only mobile technology company to disappoint Thursday. AT&T (NYSE: T) announced both revenues that missed expectations and reduced customer sign ups thanks to the loss of their iPhone exclusive contract. It also had a very small number of iPad 3G activations. Investors felt the loss acutely and T fell 2.09 percent from $28.73 to $28.13.
Verizon (NYSE: VZ), on the other hand, rose from $36.40 to $36.49 after announcing that it had purchased Terremark Worldwide (NASDAQ: TMRK). The addition of TMRK will give VZ’s corporate customers access to offsite storage.
Finally, we also heard from Nokia (NYSE: NOK) Thursday. NOK not only announced a 21 percent drop in net earnings for quarter four 2010 but also the loss of two members of its board of directors. Its stock fell 1.58 percent from $10.73 to $10.56.
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*Prices and charts courtesy of Yahoo Finance.
