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By Market News Video Staff, Thursday, November 11, 8:53 AM ET
Telefonica (NYSE:TEF) posted third quarter earnings today that tripled compared to the same quarter last year. Profit surged to 1.12 euros per share, compared to 0.42 euros per share in last year’s third quarter, though earnings fell short of expectations. Telefonica shares are trading lower in the pre-market, off 1.9% so far.
Telefonica is a top holding of the Europe 2001 HOLDRS ETF (EKH), at 5.87% of the portfolio. Other top holdings of EKH include Millicom International Cellular (MICC) at 12.44% of the fund followed by Ryanair (NASDAQ:RYAAY) at 8.09%, Diageo (NYSE:DEO) at 6.02% and Total (NYSE:TOT) at 5.42%.
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