Originally published Monday, October 19, 2009 at 12:25 PM
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Motorola shares up as Verizon launches ad
Shares of Motorola Inc. surged Monday as Verizon Wireless launched an aggressive ad campaign to promote a new Motorola phone.
The Associated Press
Shares of Motorola Inc. surged Monday as Verizon Wireless launched an aggressive ad campaign to promote a new Motorola phone.
Shares of Motorola rose 65 cents, or 8.3 percent, to $8.50 in afternoon trading.
Over the weekend, TV ads started running for the "Droid." Details were scant, but it apparently refers to a Motorola phone running Google Inc.'s Android software, to be launched in November.
Also Monday, T-Mobile USA started selling the CLIQ, the first Android phone from Motorola. The use of Android is part of a turnaround effort at Motorola, whose handset division is struggling to come back after its failure to find a follow-up to the hit Razr phone.
In mid-September, Motorola shares hit a 52-week high of $9.45. The shares were at $2.98 as recently as March.
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