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Archive for November, 2007

Nortel’s Fireside Chat

While I’m sure analysts enjoyed have access to Nortel’s senior management team, there didn’t appear to be many surprises - not terribly surprising given the company posted its third-quarter results last week.
Perhaps the highlight was some insight into how Nortel’s business transformation process (aka cost-cutting program) is coming along. Here’s a couple charts from the [...]

Sitting by Nortel’s Fire(side)

Well, I didn’t get an invite to Nortel’s fireside chat.
Of course, I’ve got a day job so it was pretty unlikely I would have been able to trek all the way out to Nortel’s suburban Toronto corporate digs if I had received a Nortel Golden Ticket to hear Mike Z. and the whole senior executive [...]

Dunn: We Made Mistakes

Ex-Nortel CEO Frank Dunn and ex-Doug Beatty claims the accounting problems that hobbled Nortel and led to extensive restatements were caused by mistakes rather than fraud.
In a response to a civil fraud lawsuit filed by the U.S. Securities and Exchange Commission, Dunn claims credit for saving Nortel after the telecom boom collapsed in 2000.
“In this [...]

Fireside Chat Deets

Now, I haven’t been invited to Nortel’s Fireside Chat Event on Thursday but here’s the agenda, which looks good for anyone interested in all and everything about the New Nortel.
9:00 am to 9:50 am: Breakfast with Nortel executives
9:50 am to 3:00 pm: Formal Presentations
It looks like pretty much the entire senior management team will be [...]

Motley Fool Jumps on Nortel Bandwagon

Nortel posted a third-quarter profit last week, which made a lot of investors happy - judging by the stock’s 18% jump a week ago.
And while the company may have fallen short of the $0.11 a share that analysts expected, Motley Fool said it is encouraging to see a “more respectable feel to operations”.
“Good job, eh?,” [...]

Nortel’s Fireside Chat

Looks like Nortel’s efforts to rekindle a strong relationship with the analyst community is moving forward. The company will hold a Fireside Chat on Nov. 15 at corporate headquarters in suburban Toronto. I’m not sure about the agenda but it was the first item mentioned during last week’s conference call so senior management must be [...]

Who Wants Some NT Shares?

Nortel’s board of directors has approved a share purchase plan that will let “certain Nortel executive officers to purchase common shares from Nortel to satisfy share ownership guidelines”.
“All shares issued under the plan will be sold for fair market value determined by reference to the volume weighted average trading price of the shares for [...]

Credit Suisse Upgrades Nortel

In the wake of Nortel’s third-quarter results, Credit Suisse has upgraded Nortel to “neutral” from “underperform”, while raising its target price to $18 from $16. The investment firm now expects Nortel to make 49 cents a share in 2007 (compared with an earlier estimate of 37 cents) and $1.08 in 2008 (compared with 94 cents).

Some BusinessWeek Love

Nortel has been happily battered by the media on and off for the past six years so a positive story by a high-profile publications such as BusinessWeek catches your attention.
The story talks about the good third-quarter results, which also impressed investors given how the stock popped by 18% on Tuesday.
One thing BusinessWeek does raise [...]

Q3″ “Good But Not Impressive”

Nortel shares may have jumped 17% yesterday after the company posted a third-quarter profit but UBS Securities analyst Nikos Theodosopoulos has less enthusiastic approach.
In a research report entitled “3Q07 Review: Good but not impressive”, Theodosopoulos said gross margins beat expectations at 43%, investors need to pay attention the sustainability of Nortel’s LG-NT joint venture, which [...]