Lucent battered after predicting lower profits

Article Abstract:

Lucent Technologies stock suffered a beating on Oct 10, 2000, after the company warned for the third time during the year that its profits would not meet expectations. Expectations of a poor 4th qtr 2000 earnings, sent the telecommunications equipment maker's shares to a two-year low. It also revived speculation that CEO Richard McGinn could be replaced. Its shares closed at $31.38 and dropped to $24.06 in after-hours trading.

Securities prices

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Companies create way to put idle PCs to work through Net

Article Abstract:

A number of small, young firms are in the process of tapping the vast underused computing power of every computer connected to the Internet. These companies, which include United Devices, Popular Power, Parabon, Entropia and DataSynapse, are the pioneers in a field called distributed computing. The idea is to reduce a computing work into little pieces that can be farmed out to personal computers around the world.

On-Line Information Services, Services information, Videotex & Teletext Svcs NEC, Internet services, Online information services

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Schacht faces obstacle-filled road to success

Article Abstract:

Lucent Technologies Inc has named Henry Schacht as interim CEO on Oct 23, 2000 to lead an effort aimed at regaining the telecommunications equipment maufacturer's declining market value. Schacht, who was Lucent's former CEO from 1995 to 1997, replaced ousted CEO Richard McGinn. The company's stock, which closed at $21.56 on the day Schacht was reappointed, is down about 72% in the past year.

Executive changes & profiles

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