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TELECOM GEAR
Merrill boosts handset forecasts
It sees 474 mil cell phones sold in '03, up 15% from prior views, and 501 mil in '04, a 19% jump. Merrill Lynch raised profit views on No. 1 cell phone firm Nokia and handset chipmaker ARM. Nokia rose 5% and ARM 15%. Other Wall Street firms also turned more upbeat on the sector recently.
TELECOM
Gates ups Nextel Partners stake
Microsoft's chairman bought 3.75 mil shares from wireless pioneer Craig McCaw, raising his stake in the mobile operator to 5.2%. Cascade Investment, Bill Gates' private investment unit, owns 12.7 mil shares. Nextel Partners rose 22% to 8.05. Parent Nextel edged lower.
Vodafone to launch 3G in Japan