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Shares get lift from profit goal
By Lars Klemming |
March 14, 2009, Saturday
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Print Edition
Print Edition
ALCATEL-LUCENT SA rose the most in four months in Paris trading after Chief Financial Officer Paul Tufano said that the company aims to be profitable in the second half of 2010.
Alcatel-Lucent, the world's largest maker of fixed-line networks, climbed as much as 16 percent to 1.197 euros, and traded at 1.16 euros in morning trading. Bank of America Corp yesterday upgraded Alcatel-Lucent's stock recommendation to "neutral" from '"underperform."
Last month, Paris-based Alcatel-Lucent reported an eighth-straight quarterly loss as it wrote down the value of assets by a record 3.91 billion euros (US$5.1 billion), Bloomberg News said. That brought the company's writedowns to about 8 billion euros since Alcatel SA bought Lucent Technologies Inc in 2006.
Alcatel-Lucent, the world's largest maker of fixed-line networks, climbed as much as 16 percent to 1.197 euros, and traded at 1.16 euros in morning trading. Bank of America Corp yesterday upgraded Alcatel-Lucent's stock recommendation to "neutral" from '"underperform."
Last month, Paris-based Alcatel-Lucent reported an eighth-straight quarterly loss as it wrote down the value of assets by a record 3.91 billion euros (US$5.1 billion), Bloomberg News said. That brought the company's writedowns to about 8 billion euros since Alcatel SA bought Lucent Technologies Inc in 2006.
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