A smartphone exchange traded fund (ETF) was flat in midday trading Friday despite big moves in holdings Research in Motion (NasdaqGS: RIMM) and Motorola Mobility (NYSE: MMI).
RIM shares were down nearly 14% after the company lowered its profit forecast for the current quarter that ends in late May on weakness in BlackBerry sales. [Research in Motion, Microsoft Weigh on Nasdaq ETF.]
Separately, Motorola Mobility shares rallied 9% following quarterly results as the company said Android smartphone sales rose. [Motorola Mobility Leads Stocks in Mixed Tech ETFs.]
The global market for mobile phones jumped 20% in the first quarter from the year-ago period, according to estimates by IDC, driven by growth in high-end smartphones, Dow Jones Newswires reported Friday.
First Trust NASDAQ CEA Smartphone Index Fund (NasdaqGM: FONE) was little changed in recent trading Friday. Its largest holding is HTC Corp. The smartphone maker sees record sales again in the second quarter, Reuters reported. Apple (NasdaqGS: AAPL), maker of the iPhone, is another large holding.
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