Archive for December, 2006
Next Entries »Nortel Wins Taiwanese WiMax Contract
Friday, December 8th, 2006As Nortel pursues a strategy to gain 20% of the emerging Wi-Max market, it has won a contract to provide equipment to Taiwan’s Chunghwa Telecom Co.’s WiMax network. Terms of the deal were not disclosed. Obviously, any contract win is a big deal but the question that analysts and investors need to ask is whether [...]
RBC Reduce Target Price
Thursday, December 7th, 2006RBC Capital Markets has dropped its 12-month target price on Nortel to $24 from $25 while maintaining its “sector perform” rating.
Technorati Tags: Nortel
Breaking Up is Hard to Do
Wednesday, December 6th, 2006If you’re Deloitte & Touche, Nortel’s decision to end a 92-year relationship is no doubt painful - particularly in the old pocket book given Nortel paid Deloitte a staggering $81-million in 2005 for auditing and other services. According to the National Post, that accounted for more than one-third of the fees that Deloitte collected from [...]
Nortel On Track for ‘08
Tuesday, December 5th, 2006At the ITU Telecom World 2006 Forum in Hong Kong, Nortel CEO Mike Zafirovski said the company is still on track to meet its operating profit targets by 2008. “There is a commitment, there’s a path for us to go from a break-even, a loss position, to be a $1.5 billion operating margin company in [...]
Nortel Boots Deloitte & Touche
Tuesday, December 5th, 2006Following a tumultuous relationship in recent years, highlighted by an accounting scandal, Nortel has turfed Deloitte & Touche as its auditor, although the decision “does not result from any disagreement or dissatisfaction”. Nortel’s new auditor is KPMG. Deloitte’s departure comes after it played a key role in fixing Nortel’s financial books that involved a multiple [...]
Ericcson, Nortel Looking for Love in China
Monday, December 4th, 2006Shanghai Daily has a story about how Ericsson and Nortel are looking for big business the wireless markets in China and India, which are expected to generate contracts worth at least $26-billion as the two countries add about 12 million mobile customers a month. The focus on these contracts will no doubt be a major [...]
Nortel-Alcatel Sign Definitive Agreement
Monday, December 4th, 2006In some more housingkeeping, Alcatel-Lucent has signed a definitive agreement to buy Nortel Networks Corp.’s UMTS radio access business for US$320 million. Alcatel-Lucent will acquire Nortel’s UMTS radio access technology and product portfolio, as well as customer contracts. About 1,700 people will join Alcatel-Lucent, including 1,100 R&D engineers based mainly in France, Canada and China.
Baird Maintains Rating
Saturday, December 2nd, 2006Investment firm Robert W Baird maintain its “neutral” rating on Nortel, while raising its 12-month target price from $2 to $20 to reflect Nortel 1:10 stock consolidation. In a research note, the investment firm said its EPS estimates for 2006 and 2007 have been raised from $0.07 to $0.74 and from $0.20 to $2.11, respectively. [...]
One For You and Ten for Nortel
Friday, December 1st, 2006Nortel has implemented its plan to consolidate its stock on a 1 for 10 basis so instead of a Carl Sagan-like public float of billions and billions of shares (actually 4.3 billion), there will now be only 433 million shares. Nortel shares opened at $24.40 in Toronto - a level not seen for a few years. [...]
Nortel Creates Eastern European JV
Friday, December 1st, 2006Nortel and Southeast European Communications and Investments Inc. plans to established a joint venture in southeast Europe to drive sales of its ethernet, optical, multi-media and wireless products to carriers in the region. Called Nortel SE, the JV will have 30 sales and marketing employees and open its first offices in Bulgaria, Serbia and Macedonia, [...]
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