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Disappointing sales of high-speed wireless phones in Europe drags Motorola down – is Euro zone going into a recession?
Mike Moran
Oct. 17, 2006

First the signal came from ECB. They want to pause. There is rumor that ECB even wants to lower the rates. Then cam Motorola who posted a disappointing results blaming slow sales of high-speed wireless phones in Europe.

Motorola result may be an eye opener for currency traders. If Euro zone is going into a slowdown and US is accelerating towards growth, the dollar will rally against euro and other European currencies like British Pound and Swiss Franks.

Motorola said third-quarter revenue rose 17 percent to $10.6 billion, which was under the average analyst forecast of $11.08 billion. The stock got hammered and in after hours trades the stock is down 2.5% after collapsing more than 7% in regular session.


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