« More on PingTel | Main | The Week in Review »
Zacks Rates NT a Strong Sell
By Mark Evans | August 15, 2008
Zacks.com has ranked Nortel as a #5 (aka strong sell), a ranking applied to 5% of the stocks within Zack’s research universe.
Here’s a synopsis of the rational for Zack’s ranking:
“Nortel Networks Corp (NYSE: NT) warned that a downturn in the U.S. market was choking wireless spending by carriers even as it posted a quarterly loss that tripled due to restructuring charges and currency exchange losses. The company recently cut numerous jobs and moved others to Asia in order to lower operating expenses. Nortel continues to invest in next-generation wireless technologies even though CDMA forms an important part of its business. Telecom gear manufacturers are likely to be challenged by tightened capital budgets of carriers due to ongoing recessionary conditions in the global economy.”
Technorati Tags: Nortel
Topics: Stock |