Motorola Solutions (NYSE:MSI), a provider of communications services and networks for public safety workers, added 58 basis points to the Fund’s return, as its stock rose 15.6% from $65.97 to $76.28. The stock climbed after the company reported quarterly earnings that exceeded expectations and guided to an acceleration in revenue growth in the second half of 2016. Demand for Motorola’s network support services in North America is increasing, while the recent acquisition of Airwave, Great Britain’s public safety communications network, is providing a significant boost internationally.
From Jerome Dodson (Trades, Portfolio)'s Parnassus Fund third-quarter 2016 commentary.
