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Friday, May 16th, 2008If you’re among the people part of Nortel’s class-action settlement, then you’ll soon be getting some cash and share certificates from Nortel.
Two years after the then $2.4-billion settlement was reached, the checks and certificates are finally in the mail. According to the Montreal Gazette, there are 145,000 Canadian claimants.
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New Shares to Hit the Market
Sunday, May 11th, 2008The Ottawa Citizen ran an interesting story a couple of days ago looking at what might happen to Nortel shares when 33 million new shares hit the market next month.
These shares, which represent 8% of the total outstanding, are part of the settlement of class-action lawsuits. Since a deal was made two years ago, [...]
S&P Maintains “Hold”
Saturday, May 3rd, 2008Although encouraged by Nortel’s improvement in operating margins and sales traction within the enterprise business, S&P is maintaining its “hold” on Nortel because it see “the operating environment becoming more challenging amid a weakening macroeconomic climate”.
As a result, it has lowered it 12-month price target to $10 from $12.
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Price Target Update
Tuesday, April 15th, 2008With Nortel rebounding from a record low of $5.73 recently, and its Q1 earnings being released on May 2, here’s a snapshot of what the analysts think of NT’s prospects:
I’m still curious about the analyst(s) holding out with a $31 stock-price target - if, in fact, this information is still accurate.
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UBS: The Future Ain’t Bright
Tuesday, April 8th, 2008Citing lower enterprise sales growth, UBS has reduced its 2008 to 2010 revenue and EPS expectations for Nortel, while dropping its stock target price to $8.80 from $11.
“We now model Enterprise segment revenue growth of 4% for 2008-2010, down from 5% previously,” UBS analyst Nikos Theodosopoulos said in a research note. “We believe an overall [...]
Good Week for NT
Friday, April 4th, 2008After hitting a series of record lows recently, NT has bounced back. This week the stock climbed to $7.85 from $6.42, or 22%.
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Number Crunching on NT
Friday, April 4th, 2008All About Nortel is a one-man show. I write it, produce it, script it, sweep the floors, etc.
That said, there are some really smart people who read ANN, and whose knowledge of Nortel and the investment landscape leave me in the proverbial dust. One of these people is Frank Burch, who, from time to time, [...]
Mike Z. Snaps Up Some NT
Tuesday, March 25th, 2008Got a tip from a reader (Thanks!) that Nortel CEO Mike Zafirovski is putting his money where his mouth is by acquiring some more NT stock.
Earlier this week, he purchased 83,500 shares at prices range from $6.20 to $6.37 each. Mike Z. also holds 1.73 million stock options with exercise prices ranging from $8.31 [...]
Who Owns Nortel
Thursday, March 20th, 2008This list is nearly three months old but it does provide some insight into what institutions own a lot of Nortel. The largest shareholder is Brandes Investment Partners, a hedge fund based in San Diego.
Technorati Tags: Nortel, Brandes Investment Partners
How Low Can NT Go?
Monday, March 17th, 2008With Nortel touching another record low of $6.25 last week, the question is how low can the stock go? With tougher economics conditions, particularly in the U.S., carriers being increasingly careful, and the competition landscape getting even more intense, can Nortel turn the tide?
Here’s some sobering food for thought: At the peak of the telecom [...]