Saturday, December 8, 2007

Motorola backs outlook

Motorola Inc. shares rose Thursday after a senior official of the cell-phone maker affirmed its fourth-quarter outlook.

Chief Financial Officer Tom Meredith made the remarks at an investor conference in San Francisco and come as Motorola is in the process of changing chief executives.

Ed Zander's resignation last Friday had prompted concerns among investors that the company could be in the midst of another disappointing quarter.

Meredith said he expects improvement in both sales and profit from the company's handset business, continuing the progress made in the third quarter.

President and Chief Operating Officer Greg Brown will succeed Zander on Jan. 1.

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