ERIC - Telefonaktiebolaget LM Ericsson (publ)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
9.06
-0.11 (-1.20%)
At close: 4:00PM EST
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Previous Close9.17
Open9.04
Bid9.05 x 42300
Ask9.06 x 21500
Day's Range9.01 - 9.14
52 Week Range7.58 - 10.46
Volume4163960
Avg. Volume5,388,363
Market Cap29B
Beta (5Y Monthly)0.41
PE Ratio (TTM)N/A
EPS (TTM)-0.72
Earnings DateN/A
Forward Dividend & Yield0.11 (1.20%)
Ex-Dividend Date2019-03-28
1y Target Est10.89
  • Sweden opens Ericsson bribery probe after U.S. settlement: paper
    Reuters

    Sweden opens Ericsson bribery probe after U.S. settlement: paper

    Sweden's prosecution authority has opened an investigation into possible bribery by employees at mobile telecoms group Ericsson that came to light during a U.S. probe into corruption, daily Dagens Industri wrote on Thursday. A spokesman for Sweden's prosecution authority confirmed to Reuters that a preliminary investigation had been opened but had no further comment.

  • Telecom Stock Roundup: BlackBerry-WM Motor Partnership, Ericsson's 5G Ferry & More
    Zacks

    Telecom Stock Roundup: BlackBerry-WM Motor Partnership, Ericsson's 5G Ferry & More

    While BlackBerry (BB) partners with WM Motors to augment the in-car experience of its upcoming models, Ericsson (ERIC) uses 5G technology-enabled devices for automated ferry services in Norway.

  • 5G Set to Transform US Healthcare: 3 Stocks to Watch
    Zacks

    5G Set to Transform US Healthcare: 3 Stocks to Watch

    Non-MedTech companies are ramping up investments in healthcare through 5G.

  • Ericsson Powers 5G-Enabled Automated Ferry Service in Norway
    Zacks

    Ericsson Powers 5G-Enabled Automated Ferry Service in Norway

    Ericsson (ERIC) believes that standardization of 5G is the cornerstone for digitization of industries and broadband.

  • Ericsson (ERIC) Dips More Than Broader Markets: What You Should Know
    Zacks

    Ericsson (ERIC) Dips More Than Broader Markets: What You Should Know

    Ericsson (ERIC) closed at $9.16 in the latest trading session, marking a -0.76% move from the prior day.

  • Telefonica to Adopt Multi-Vendor Policy for 5G in Spain
    Zacks

    Telefonica to Adopt Multi-Vendor Policy for 5G in Spain

    Telefonica (TEF) seeks to adopt a multi-vendor strategy with Huawei to reinforce 5G network infrastructure in Spain.

  • Ericsson Resolves Corruption Probe With $1.1B Settlement
    Zacks

    Ericsson Resolves Corruption Probe With $1.1B Settlement

    With the historic settlement, Ericsson (ERIC) aims to focus its resources to better compete with industry rivals and fill the void created by the trade restrictions on China-based firm Huawei.

  • PR Newswire

    Ericsson Reaches Resolution on U.S. FCPA Investigations

    Ericsson (NASDAQ: ERIC) today announced the resolution of the previously disclosed investigations by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) regarding the Company's compliance with the U.S. Foreign Corrupt Practices Act (FCPA). While the DOJ and SEC conduct separate investigations, the same facts have been shared by Ericsson with both authorities.

  • Telefonaktiebolaget LM Ericsson (publ) (ERIC): Are Hedge Funds Right About This Stock?
    Insider Monkey

    Telefonaktiebolaget LM Ericsson (publ) (ERIC): Are Hedge Funds Right About This Stock?

    Before we spend days researching a stock idea we like to take a look at how hedge funds and billionaire investors recently traded that stock. Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 10 percentage points since the end of the third quarter of 2018. This means hedge funds […]

  • Financial Times

    Ericsson to pay US more than $1bn over foreign bribery

    Ericsson has agreed to pay more than $1bn to settle US criminal and civil investigations into foreign corruption involving high-level executives that spanned almost two decades. The Swedish telecommunications group admitted to a long-running scheme to use agents and consultants to bribe government officials in Djibouti, China, Vietnam, Indonesia and Kuwait. “Ericsson’s corrupt conduct involved high-level executives and spanned 17 years and at least five countries, all in a misguided effort to increase profits,” said Brian Benczkowski, head of the criminal division of the justice department, in a statement.

  • Ericsson Pays $1 Billion to Settle U.S. Corruption Probe
    Bloomberg

    Ericsson Pays $1 Billion to Settle U.S. Corruption Probe

    (Bloomberg) -- A unit of Ericsson AB pleaded guilty to foreign bribery and the parent company agreed to pay more than $1 billion to resolve a long-running U.S. corruption investigation involving payoffs in Asia and the Middle East.The Stockholm-based company admitted to a years-long campaign of corruption aimed at solidifying its grip on the telecommunications business, U.S. Attorney Geoffrey S. Berman in Manhattan said in announcing the settlement that outlined tens of millions of dollars in illicit payments in five countries.“Through slush funds, bribes, gifts and graft, Ericsson conducted telecommunications business with the guiding principle that ‘money talks,’” Berman said in a written statement announcing the settlement.Criminal PenaltyFrom 2000 to 2016, Ericsson conspired with others to violate the U.S. Foreign Corrupt Practices Act, paying bribes, falsifying books and records and failing to implement reasonable internal accounting controls, the Justice Department said. The company bribed government officials through third-party agents and consultants, it said.The settlement includes a $520 million criminal penalty imposed by the U.S. Justice Department and a civil payment of about $540 million to the Securities and Exchange Commission. As part of a deferred-prosecution deal, an Egyptian subsidiary of the company pleaded guilty to a conspiracy charge.‘Unacceptable Behavior’“This is a reflection of some hugely embarrassing and unacceptable behavior in the past, and of course that is something we as a company are ashamed of and I personally am ashamed of,” Ericsson’s Chief Executive Officer Borje Ekholm said in a phone interview. “But the settlement also allows us to put an end to a very long and wide-ranging process so now we can move forward and build a much stronger company for the future.”The company will add an independent monitor to ensure its compliance with anti-bribery laws as part of the settlement in federal court in New York, which had been expected.The government, in its settlement announcement after the close of U.S. markets, outlined bribery spanning the globe.Sham ContractBy way of a subsidiary, the company made approximately $2.1 million in bribe payments between 2010 and 2014 to high-ranking government officials in Djibouti to obtain a contract with the state-owned telecommunications company, it said. An Ericsson subsidiary entered into a sham contract and approved fake invoices to conceal the payments, it said.In China, Ericsson subsidiaries caused tens of millions of dollars to be paid to consultants and service providers over 16 years through 2016, the government said. Some of that went to fund a travel expense account in China that covered gifts, travel and entertainment for foreign officials, it said. The government outlined $45 million in off-the-book payments to create slush funds to win business in Indonesia, and described other off-the-book schemes in Vietnam and Kuwait aimed at winning business.‘Adequate Actions’In September, Ericsson said it had set aside 12 billion kronor ($1.2 billion) to cover U.S. penalties. Ericsson has said it’s been cooperating with U.S. investigators since 2013.The Justice Department said Ericsson earned a 15% reduction in penalties for its cooperation. However, it said Ericsson didn’t receive full credit for cooperation because it didn’t disclose some allegations of corruption, didn’t produce certain documents and failed to take adequate disciplinary measures against some employees.Ericsson said 49 individuals who were involved in misconduct have either had their employment terminated or left the company voluntarily.“We weren’t timely enough to take adequate actions: sometimes actions were taken based on incomplete information, and some people were able to resign before actions were taken,” Ekholm said. “As soon as you start investigating, some people jump ship because they know the situation.”Ericsson has been moving to resolve the matter as it competes with Nokia Oyj for 5G network supply contracts and tries to take advantage of a U.S.-led boycott against Huawei Technologies Co., an Ericsson rival.The $1 billion overall penalty is near the top of foreign-corruption cases and above those assessed against other telecommunications companies. Telia Co. paid $965 million in penalties in 2017 after admitting to paying hundreds of millions of dollars in bribes to a government official in Uzbekistan.Ekholm said the company will now need to rebuild trust with its clients.“So far we see that we have good traction with our customers, but we’re humble enough to say that we need to continuously keep our eyes on this ball,” he said.(Updates with comments from Ericsson CEO starting in sixth paragraph.)\--With assistance from Niclas Rolander and James Amott.To contact the reporters on this story: Tom Schoenberg in Washington at tschoenberg@bloomberg.net;David Voreacos in New York at dvoreacos@bloomberg.netTo contact the editors responsible for this story: Jeffrey D Grocott at jgrocott2@bloomberg.net, David S. Joachim, Patrick HenryFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Ericsson to pay over $1 billion to resolve U.S. corruption probes
    Reuters

    Ericsson to pay over $1 billion to resolve U.S. corruption probes

    Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve probes into corruption, including the bribing of government officials, the U.S. Department of Justice said on Friday. The total charges include a criminal penalty of more than $520 million, plus $540 million to be paid to the U.S. Securities and Exchange Commission (SEC) in a related matter. The company admitted it had conspired with others to violate the Foreign Corrupt Practices Act (FCPA) from at least 2000 to 2016 by engaging in a scheme to pay bribes and to falsify books and records and by failing to implement reasonable internal accounting controls, the Justice Department said in a statement.

  • Reuters

    UPDATE 4-Ericsson to pay over $1 billion to resolve U.S. corruption probes

    Swedish mobile telecoms company Ericsson has agreed to pay over $1 billion to resolve probes into corruption, including the bribing of government officials, the U.S. Department of Justice said on Friday. The total charges include a criminal penalty of more than $520 million, plus $540 million to be paid to the U.S. Securities and Exchange Commission (SEC) in a related matter. The company admitted it had conspired with others to violate the Foreign Corrupt Practices Act (FCPA) from at least 2000 to 2016 by engaging in a scheme to pay bribes and to falsify books and records and by failing to implement reasonable internal accounting controls, the Justice Department said in a statement.

  • Telecom Stock Roundup: T-Mobile's Nationwide 5G, Verizon 5G Edge Computing & More
    Zacks

    Telecom Stock Roundup: T-Mobile's Nationwide 5G, Verizon 5G Edge Computing & More

    While T-Mobile (TMUS) launches nationwide 5G network, Verizon (VZ) collaborates with Amazon's cloud computing arm, Amazon Web Services, for 5G edge computing.

  • The Zacks Analyst Blog Highlights: Nokia, Ericsson and T-Mobile US
    Zacks

    The Zacks Analyst Blog Highlights: Nokia, Ericsson and T-Mobile US

    The Zacks Analyst Blog Highlights: Nokia, Ericsson and T-Mobile US

  • PR Newswire

    Ericsson Comments on Press Coverage About the Resolution of Ongoing U.S. FCPA Investigations

    As previously disclosed, Ericsson (NASDAQ: ERIC) is in discussions with the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) regarding the resolution of their investigations of the Company's compliance with the U.S. Foreign Corrupt Practices Act (FCPA).

  • Ericsson Nears U.S. Bribe Settlement That Could Cost More Than $1 Billion
    Bloomberg

    Ericsson Nears U.S. Bribe Settlement That Could Cost More Than $1 Billion

    (Bloomberg) -- Ericsson AB is nearing a resolution of a long-running U.S. corruption investigation, according to two people familiar with the matter, a deal that could cost the telecommunications equipment maker more than $1 billion.Such an agreement, which the people said could be announced this week or next, would end probes by the Justice Department and the Securities and Exchange Commission into potential bribery in six countries where the company did business. In September, Stockholm-based Ericsson said it had set aside 12 billion kronor ($1.2 billion) to cover U.S. penalties.The head of the Justice Department’s criminal division hinted at an imminent resolution during a speech Wednesday at the American Conference Institute’s Foreign Corrupt Practices Act gathering in Maryland. Without naming Ericsson, Assistant Attorney General Brian Benczkowski said a corporate case to be announced soon would enable the Justice Department to finish the year with a total of about $1.6 billion in FCPA recoveries. A $1.2 billion penalty payment divided between the Justice Department and the SEC would be consistent with that figure.The Justice Department declined to comment. Ericsson said in an emailed statement that it “will not comment other than to confirm that the provision of $1.2 billion is still its current estimate of the amounts needed to cover the monetary sanctions, plus other related costs.”Ericsson has said it’s been cooperating with U.S. investigators since 2013. It hasn’t disclosed details of the conduct under investigation, though it said at the time that the probe related to a payment system used to win contracts in the 1990s. It said in September that the investigation covered a period ending in the first quarter of 2017 and involved FCPA breaches in China, Djibouti, Indonesia, Kuwait, Saudi Arabia and Vietnam.Ericsson is moving to resolve the probes as it competes with Nokia Oyj for 5G network supply contracts and tries to take advantage of a U.S.-led boycott against Huawei Technologies Co., an Ericsson rival. Ericsson said in July that the first big deployments in Asia would gradually pull down margins, although not enough to jeopardize profit targets for 2020.A penalty of $1 billion or more would put it near the top of FCPA cases and above penalties assessed against other telecommunications companies. Telia Co. paid $965 million in penalties in 2017 after admitting to paying hundreds of millions of dollars in bribes to a government official in Uzbekistan.(Adds Ericsson comment in fourth paragraph.)To contact the reporter on this story: Tom Schoenberg in Washington at tschoenberg@bloomberg.netTo contact the editors responsible for this story: Jeffrey D Grocott at jgrocott2@bloomberg.net, David S. JoachimFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • U.S. Government to Tap Federal Funds to Thwart Huawei, ZTE
    Zacks

    U.S. Government to Tap Federal Funds to Thwart Huawei, ZTE

    The move is the latest in a string of concerted efforts by the U.S. government to dissuade other sovereign countries from using Huawei and ZTE gear to preempt alleged spying and siphoning of data.

  • Is Telefonaktiebolaget LM Ericsson (publ)'s (STO:ERIC B) CEO Salary Justified?
    Simply Wall St.

    Is Telefonaktiebolaget LM Ericsson (publ)'s (STO:ERIC B) CEO Salary Justified?

    E. Ekholm has been the CEO of Telefonaktiebolaget LM Ericsson (publ) (STO:ERIC B) since 2017. This report will, first...

  • Ericsson (ERIC) Stock Moves -0.44%: What You Should Know
    Zacks

    Ericsson (ERIC) Stock Moves -0.44%: What You Should Know

    Ericsson (ERIC) closed at $9 in the latest trading session, marking a -0.44% move from the prior day.