Investors bailing out of Nortel

Article Abstract:

Northern Telecom Ltd. (Nortel) of Brampton in Ontario, Canada, once the country's leading manufacturer of telecommunications equipment, has lost about C$11billion in market capitalization in the first weeks of Sep. 1998. Nortel stock closed at C$60.05 a share on Sep. 22, 1998, on the Toronto Stock Exchange from a high of more than C$100 a share in May 1998. The company's recent announcement to lay off about 3,500 employees, or 4% of its total workforce, is believed to have hastened the drop in Nortel's stock.

Comment:

Has lost about C$11bil in market capitalization in the first weeks of Sep 1998 as its stock closed at C$60.05 a share on 9/22/98

Strategy & planning, Telecommunications Equipment, Communications Equipment Manufacturing, Telecommunications systems, Northern Telecom Ltd., Article

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Nortel rises 8% on news of $1-billion (U.S.) deal

Article Abstract:

Nortel Networks Corp. has reached a US$1 billion contract agreement with Verizon Wireless Inc. News of the deal caused Nortel's share value to increase by 8%.

United States, Radiotelephone communications, Cellular Mobile Radio Services, Cellular and Other Wireless Telecommunications, Contracts & orders received, Securities issued, listed, Contracts & orders let, Cellular telephone services industry, Cellular telephone services, Telecommunications equipment industry, Contracts, Securities, Nortel Networks Corp., NT, Contract agreement, Verizon Wireless Inc., Company securities, Wireless telecommunications service

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