Lucent says slow wireless sales push down Q3
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Lucent Technologies Inc.  said  on Monday it expects third-quarter earnings to fall due mainly  to slower sales of wireless network equipment in North America,  in news that pushed down its shares.
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MCI reported a $3.4 billion third-quarter loss today, as the company's efforts to recover from bankruptcy were slowed by stiff competition in the long-distance telephone service market.
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MURRAY HILL, NJ - Lucent Technologies has released a software upgrade for its wireless equipment that will allow operators to support high-speed data packet access (HSDPA) connections in 3G networks.
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Lucent Technologies Inc. LU.N, among  the world's largest makers of telecommunications equipment, on  Wednesday said quarterly earnings rose, helped by improvement  in its wireless networks business, which makes base stations  and other products.
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French telecoms giant Alcatel-Lucent unveils disappointing sales forecasts, prompting a stock plunge.
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MARLBOROUGH, Mass. - 3Com Corp. said today its quarterly revenue will come in around 10 per cent below its previous expectation, an announcement that sent shares of the communications network supplier down nearly 10 per cent.
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Nortel Networks Corp. NT.TO warned on  Thursday that third-quarter sales will fall below its second  quarter and that full-year 2004 revenues at North America's  largest telecom equipment maker will lag the overall sector.
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Wireless revenues make up for lackluster landlines, but the industry at large is still on hold.
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A delay in the release of its newest Treo device prompted the first drop in sales at Palm Inc. in more than three years.
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Atlanta-based Cingular Wireless, on the cusp of closing its acquisition of AT&amp;T Wireless, reported third-quarter results yesterday that showed higher sales and a slight decrease in operating income.
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Costly woes continue Alcatel-Lucent has admitted its outlook is dire after it disclosed it would be writing down $4.3bn of assets.â¦
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Qwest Communications International Inc. reported a third quarter loss on Thursday, partly due to lower revenues and to a charge related to litigation reserves.
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The diversified manufacturer 3M posted a weaker-than-expected quarterly profit and said global economic growth was slowing, setting off a 5.1 percent decline in its share price.
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WASHINGTON (CBS.MW) -- Qwest Communications International&#39;s third-quarter loss narrowed as the phone carrier slowed the decline in its sales, the company reported Thursday.
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(InfoWorld) - The first week of September, the unofficial start of the new season, has been hectic for IT investors. Analysts are scrambling to parse through news from networking giants Cisco Systems Inc., Alcatel SA and Lucent Technologies Inc., and a board fracas at Hewlett-Packard Co. caused the company to come under the scrutiny of the U.S. Securities and Exchange Commission as well as the California State Attorney General. The big question for Wall Street analysts and institutional investors attending the Cisco Systems Inc. analyst day in New York Wednesday was whether the vendor could sustain its revenue and profit momentum. Executives lead by Chief Executive Officer John Chambers said that by incorporating data, voice, video and mobile capabilities -- its so-called "quadruple play" -- across all its product lines, Cisco can take advantage of converging networks in the service provider, enterprise, commercial and consumer markets. The company reiterated its forecast of 10 percent to 15 percent growth for the next three to five years. But more importantly, in wide-ranging give-and-take with the Wall Street community, company executives appeared very confident about specific details that backed up the forecast. "They were very bullish," noted Mark Sue, an analyst with RBC Capital Markets. Sue said that two good signs were the company's confidence that it could keep its tax rate down to current levels (hovering around 25 percent) and Chief Financial Officer Dennis Powell's statement that the company would pay out a dividend at some point. The company did not get an uptick after the meeting, even though some analysts said they thought shares have a lot of potential to move upward. Part of the problem may be that Cisco was caught in the general market depression this week, as a result of reports of slowing housing sales. Cisco (CSCO) closed at US$21.54 Thursday, down $0.15. Meanwhile Alcatel SA and Lucent Technologies Inc. shareholders approved the merger of the two networking vendors Thursday. The merger is seen as part of a trend toward consolidation in the networking and telecom markets. There is intense competition in the growth areas of the mature enterprise market -- such as VOIP -- while Chinese manufacturers are putting pressure on the Western networking giants on the low end. IT investors are taking a wait-and-see approach to Alcatel-Lucent. On Thursday, Lucent (LU) shares closed at $2.25, down by $0.02, while Alcatel shares (ALA) closed at $11.77, down by $0.24. On his part, Cisco's Chambers sees his greatest competition coming from Asia, not Paris or New Jersey. A board disagreement at HP, meanwhile, is a sign of the times. An internal investigation by HP to see which members of its board of directors leaked information to the press resulted in several board members leaving earlier this year. One departed board member, Silicon Valley venture capitalist Thomas Perkins, has accused HP of using possibly illegal means to conduct its investigation, sparking newly revealed government inquiries. However it ends, the squabble is seen to signify the end of an era when board members were all good friends of the chief executive. The leaks stemmed back to the time when the board started having critical discussions of ex-CEO Carly Fiorina. Though current CEO Mark Hurd appears to be well on the way to a healthy reorganization of the company, the board infighting could be a distraction. HP (HPQ) shares closed at $35.42 Thursday, down by $0.42.
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Nokia, the world&#39;s biggest cell phone maker, reported lower third-quarter earnings on Thursday after cutting prices to claw back market share, but said sales were strong as it enters the key Christmas season.
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Recently-merged Alcatel-Lucent  is stepping up job cuts to 12,500 after dipping into a fourth quarter loss and forecast a sales drop in the first quarter as tough trading and uncertainties related to the tie-up took their toll.