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Barron’s: It’s a Death Spiral
By Mark Evans | February 28, 2008
Here’s what Barron’s Stocks to Watch blog Today had to say about Nortel:
ANOTHER SHOT ACROSS NORTEL BOW
There are three things that Canadians all seem to agree on: they like that Loonie/USD trade these days, that Guy Lafleur was one heck of a hockey player, and Nortel Networks (NT) is trapped in some kind of a death spiral. At least five different Canada-based investment research operations have weighed in with critical comments on the telecommunications equipment maker, and are delivering another punishing blow to the ailing stock. Shares have dropped to a fresh low for the year, after plunging 13% Wednesday in reaction to the company’s quarterly results. Analysts are worried that Nortel’s fortunes, tied so closely to earlier-generation cell-phone technology, simply doesn’t have a plan to keep pace with the wireless equipment market.”
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