Lucent's bad news gets worse
Article Abstract:
Lucent Technologies announced that it would not meet earnings estimates for 4th qtr 2000 and 1st qtr 2001, marking the sixth consecutive time that Lucent has failed to live up to analysts' expectations. The company also said that it would implement a restructuring plan in 2001 that would result in savings of more than $1 billion but would result in numerous layoffs. Lucent's announcements were not taken well by investors, causing its stock to lose another 8.5% to $14.19, down by almost 80% since the start of 2000.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Feds: trio stole Lucent's trade secrets
Article Abstract:
Police have arrested two Lucent scientists, Hai Lin and Kai Xu, and a third man, Yong-Qing Cheng, for allegedly stealing the company's trade secrets. Authorities said that the three conspired to steal Lucent's PathStar Access Server, which switches data and voice over networks. They would use the technology to form a partnership with Datang Telecom Technology, one of the largest sellers of telecom equipment in China. Lin and Xu said they wanted to build the 'Cisco of China,' similar to Cisco Systems of the US.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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Lucent lost $3.7B, but future looks brighter
Article Abstract:
Lucent Technologies reported a net loss of $3.7 billion in 2nd qtr 2001 but is optimistic that it will recover through its turnaround plan. Its stock rose by 11%, closing at $10.25 per share on Apr 24, 2001. However, it is still 85% lower than Lucent's 52-week high registered in Jul 2000. It lost $1.08 per share, which included unusual and restructuring charges, as against earnings of 23 cents per share, during the same period in 2000.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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