Lucent alarms Street
Article Abstract:
The share price of Lucent Technologies plummeted to $69 when it announced that its 1st qtr 2000 earnings would be lower than expected. The stock went down by another 17 points during after hours-trading on Jan 6, 2000. Lucent said that its 1st qtr 2000 earnings would amount to only 39 cents per share. This is 30% lower than the 54 cents per share predicted by analysts. Total revenues are estimated to be only $9.8 billion, as against the $11 billion forecast made by analysts.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Lucent looks to buy start-up Chromatis
Article Abstract:
Lucent Technologies is holding talks for the acquisition of Chromatis Networks, reputedly for as much as $5.7 billion. Chromatis is an optical networking start-up but still has no revenues. Lucent wants to acquire Chromatis to address its weakness in optical technology, which sends voice and data signals across fiber-optic networks through pulses of light. The deal also highlights the cutthroat competition in the telecommunications equipment sector, where top companies such as Lucent and Nortel, are acquiring unproven startups.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Lucent pays $4.5B, jumps into fiber-optics race
Article Abstract:
Lucent Technologies agreed to acquire Chromatis Networks for $4.5 billion. Chromatis, which has 150 employees, manufactures gear that links fiber optics into local networks. While the two-year-old Chromatis has no revenue and no products on the market, Lucent is optimistic that the startup could generate a few hundred million in revenue by year 2001. Lucent expects the acquisition to reduce its earnings by $0.02 and $0.05 per share in fiscal 2000 and 2001, respectively.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
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