Our biggest winner was Motorola Solutions (NYSE:MSI), the largest global provider of mission-critical communications solutions. Shares rose 16.6% from $90.34 to $105.30, adding 65 basis points to the Fund’s return. The stock surged after the company reported revenue and earnings that exceeded expectations, as recent natural disasters and terrorist threats have emphasized the importance of dedicated, secure and resilient communications networks for public safety professionals. Investors also cheered the acquisition of Avigilon, a provider of video surveillance systems, as Motorola’s reputation and relationships should stimulate Avigilon’s growth.
From Jerome Dodson (Trades, Portfolio)'s first-quarter 2018 Parnassus Fund shareholder letter.
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