Posts for Ticker ‘NT’

The Pain Continues at Nortel (NT)(NRTLQ)

burning-money-pic21Things just got darker at Nortel Networks (OTC-NRTLQ) (Former “NT on NYSE).  The company today announced an additional  3,200 job cuts.
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Posted on: February 25, 2009 – 10:45 am in Labor & Unions, Management Change, Technology Companies, ,

Game Plan: Cisco Earnings (CSCO, JNPR, NT)

Cisco_logoCisco Systems Inc. (NASDAQ: CSCO) is set to report earnings on Wednesday after the close.  What is interesting is that the news is expected to be dismal and the guidance is expected to be worse, yet many traders have been trying to use the current low prices to accumulate shares. 

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Posted on: February 3, 2009 – 7:15 pm in Earnings, Technology Companies, , ,

Top Pre-Market Analyst Downgrades (AEG, AAPL, BHP, CSIQ, CWST, JASO, MTB, NT, RRGB, STP, TRMB, WMI)

Burning_money_picThese are some of the top pre-market analyst downgrades we have seen this Thursday morning with more than two hours until the market opens:

  • Aegon (AEG) Cut to Sell at UBS.
  • Apple (AAPL) Cut to Underperform at RBC.
  • BHP Billiton (BHP) Cut to Neutral at Credit Suisse.
  • Canadian Solar (CSIQ) Cut to Neutral at Broadpoint AmTech.
  • Casella Waste Systems (CWST) Cut to Neutral at JPMorgan.
  • JA Solar (JASO) Cut to Neutral at Broadpoint AmTech.
  • M&T Bank (MTB) Started as Underperform at FBR.
  • Nortel (NT) Cut to Underperform at CIBC.
  • Red Robin Gourmet (RRGB) Cut to Neutral at Piper Jaffray.
  • Suntech Power (STP) Cut to Neutral at Broadpoint AmTech.
  • Trimble Navigation (TRMB) Cut to Underweight at JPMorgan.
  • Waste Management (WMI) Cut to Neutral at JPMorgan.

Jon C. Ogg
January 15, 2009

Posted on: January 15, 2009 – 7:39 am in Analyst Calls, , , , , , , , , , , ,

Outlining Flextronics Exposure To Nortel Bankruptcy (FLEX, NT)

Burning_money_pic_5We have already highlighted that Nortel Networks Corp. (NYSE: NT) has filed for Chapter 11 bankruptcy protection.  But the fallout from the filing continues to reverberate in the industry. For instance, Flextronics International Ltd. (NASDAQ: FLEX) is an electronics manufacturing services company ("EMS") that has exposure to Nortel.

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Posted on: January 14, 2009 – 9:36 am in Law, Technology Companies, ,

The Death of the Nortel Shareholder (NT)

Burning_money_pic_4Nortel_logoNortel Networks (NYSE:NT) has just been halted for trading on wire reports that the firm has filed for bankruptcy protection.  It is no secret that the company has been in trouble.  We noted before that the company was hinting at a reverse stock split.  Things went from bad to really bad to just about the worst.  This may completely wipe out the holders of common stock if past bankruptcy filings are any real judge of the future.

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Posted on: January 14, 2009 – 8:46 am in Law, Shareholder Issues, Turnarounds,

Winners From China’s New 3G Expansion (MOT)(QCOM)(TXN)(BRCM)

Empire_2The Chinese government has finally set up a system to bring fast wireless 3G service to its citizens. In a country where handsets are used the way that many people in the US and EU use laptops, the move will bring a new generation of multimedia access to hundreds of millions of people and should make several US companies a lot of money.

According to The Wall Street Journal. "China Mobile Ltd. (CHL), the dominant carrier, would be assigned the Chinese-developed TD-SCDMA standard. The global standards WCDMA and CDMA-2000 are to go to China Unicom Ltd. (CHU) and China Telecom Ltd., respectively."

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Posted on: January 4, 2009 – 8:02 am in China, , , , , ,

Nortel Possible Unit Sale Adds Little Worth (NT)

Burning_money_pic_2Nortel Networks Corp. (NYSE: NT) is trading higher today on news reports that it has received three offers worth nearly U.S. $1 billion for the company’s Metro Ethernet unit.  What is interesting is that the company is apparently still trying to determine whether its best route to profitability would be to sell more of the company.

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Posted on: December 23, 2008 – 11:09 am in Management Change, Mergers and Buy Outs, Shareholder Issues, Turnarounds,

Companies That Won’t Make It Through 2009 (HMC)(SIRI)(AIG)(FRE)(FNM)(RAD)(NYT)(NT)(PIR)(CHTR)(HOV)

AngrybearA lot of fairly well-known public companies either disappeared or went bankrupt this year. Circuit City is on the list. Based on the most recent news GM may get added soon.

24/7 Wall St. looked at some of the largest and most well-known companies, reviewed their SEC filings if they are public, analyst reports, and media observations about their businesses and picked ten that probably won’t be around at the end of next year. That does not mean that their brands will disappear, but these companies will have been dissolved as the world knows them now or working though the court system in the hopes of getting Chapter 11 protection and a chance at survival.

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Posted on: December 19, 2008 – 7:47 pm in Research, , , , , , , , , , , , , , ,

The 52-Week Low Club: (MNI)(SGY)(NT)(TTWO)

Sad_clownMcClatchy Newspapers (MNI) Drops to $.98 as shareholder panic. The 52-week high is $13.31.

Stone Energy (SGY) Cuts production view for quarter. Drops to $8.47 from 52-week high of $73.96.

Nortel Networks (NT) falls to $.24 on concerns about bankruptcy against 52-week high of $16.07.

Take-Two Interactive (TTWO) Remarkably poor earnings and awful forecast. Sells down to $8.65 from 52-week high of $27.95.

Douglas A. McIntyre

Posted on: December 18, 2008 – 3:58 pm in HI/LOW, , , ,

The 52-Week Low Club (NT)(BGP)(NTII)(DXYN)

Sad_clownNortel (NT) Still falling on Chapter 11 concerns. Falls to $.26 from 52-week high of $16.07.

Borders Group (BGP) No one buys books from stores anymore. Drops to $.56 from 52-week high of $11.67.

Neurobiological (NTII) Stroke drug trial gone wrong. Plunges to $.19  from 52-week high of $3.47.

Dixie Group (DXYN) No news, just selling. Off to $1.85 from 52-week high of $9.55

Douglas A. McIntyre

Posted on: December 17, 2008 – 4:10 pm in HI/LOW, , , ,

Media Digest 12/16/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, retail sales will probably drop further after the holidays.

Reuters reports that the shock waves of the Madoff scandal are spreading around the financial world.

Reuters writes that the auto bailout will be announced by Wednesday.

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Posted on: December 16, 2008 – 3:54 am in Press Digest, , , , , , , , , ,

The 52-Week Low Club (HUN)(NT)(EK)(RCRC)

Sad_clownHuntsman (HUN) Merger deal falls apart. Drops to $2.82 from 52-week high of $25.74.

Nortel Networks  (NT) As company fights debt problems, Moody’s lowers earnings. Sells down to $.32 from 52-week high of $16.17.

Eastman Kodak (EK) After saying business was weakening, Moody’s may downgrade shares. Dips to $5.97 from 52-week high of $22.74

RC2 (RCRC) Stock upgraded, shares drop to $5.65 from 52-week high of $29.79.

Douglas A. McIntyre

Posted on: December 15, 2008 – 4:05 pm in HI/LOW, , , ,

Media Digest 12/12/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

Newspaper_2According to Reuters, the auto bill died in the Senate and there will be no more action this year.

Reuters reports that the Bank of America (BAC) will cut as many as 35,000 jobs,

Reuters writes that with higher jobless rates, fewer people are missing work, even if they are unhappy with their jobs.

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Posted on: December 12, 2008 – 3:53 am in Press Digest, , , , , , , , , ,

Nortel Signals One More Reverse Split After NYSE Listing Notice (NT)

Burning_money_pic_3Nortel Networks Corporation (NYSE: NT) is going to be back at the stock game again.  The troubled Canadian telecom equipment provider announced today that it was notified today by New York Stock Exchange that its stock is below the $1.00 price criteria listing standard on the NYSE.  If you have been following this, you will see below how this situation seems to just get worse and worse.

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Posted on: December 11, 2008 – 2:05 pm in Management Change, Shareholder Issues, Stock Buybacks, Telecom,

Media Digest 12/11/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, the House passed a $14 billion bailout bill.

Reuters reports that according to Mastercard (MA) retail sales fell sharply in November.

Reuters writes that Congress criticized Treasury over its use of bailout funds.

Reuters writes that the buyout of BCE has collapsed.

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Posted on: December 11, 2008 – 3:52 am in Press Digest, , , , , , , , ,

Media Digest 12/10/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

NewspaperAccording to Reuters, the House will vote on the auto bailout as early as this week.

Reuters writes that Rio Tinto (RTP) will cut 14,000 jobs.

Reuters reports that AIG (AIG) owes other firms $10 billion for soured trades.

Reuters reports that a panel appointed by Congress will be critical on how the Paulson bailout money has been used.

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Posted on: December 10, 2008 – 3:29 am in Press Digest, , , , , , , , , , ,

10 CEOs To Go In 2009 (BSX, C, DDS, EK, GM, NT, RAD, SNDK, SIRI, JAVA)

It is that time of year where companies should have been evaluating their plans for the year ahead.  Each year we come out with a list of companies who should get rid of their CEOs or which should make some strategic changes inside the company that revolve around the CEO and management.  Boston Scientific Corp. (NYSE: BSX), Citigroup, Inc. (NYSE: C), Dillard’s Inc. (NYSE: DDS), Eastman Kodak Co. (NYSE: EK), General Motors Corporation (NYSE: GM), Nortel Networks Corp. (NYSE: NT), Rite Aid Corporation (NYSE: RAD), SanDisk Corp. (NASDAQ: SNDK), SIRIUS XM Radio Inc. (NASDAQ: SIRI), and Sun Microsystems Inc. (NASDAQ: JAVA) are all on this year’s list. 

With so many stocks down 50% and more, we want to stress that the list could have had hundreds of management teams on the list if stock prices were the sole criteria.  Our criteria for change is far more than just poor stock performance.  The list is broken down individually below and summarized with links to the full story on each individual.

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Posted on: December 7, 2008 – 5:26 pm in Management Change, , , , , , , , , ,

10 CEOs To Go In 2009: Mike Zafirovski of Nortel (NT)

Nortel_logoKicking management and practices at Nortel Networks Corp. (NYSE: NT) is nothing new for us.  We have discussed the company’s problems here for longer than memory serves.  Mike Zafirovski is president and chief executive officer of Nortel Networks and has been at the company since November of 2005. He replaced Bill Owens as CEO, who didn’t exactly have the longest tenure on the job.  So this is only a three-year tenure, but it has been a disastrous one.  As of today (and admittedly for quite for some time), Zafirovski is being named as one of our ten CEO’s that need to go in 2009.

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Posted on: December 4, 2008 – 11:54 am in Management Change, Technology Companies, Telecom, ,

What Path Will Nortel Take? (NT)

Nortel_logoNortel Networks Corp. (NYSE: NT) is one of the telecom equipment and networking stocks which just has not been able to get its act together.  It has also been unable to find any serious friends as times for the sector and the economy are going against it.  So at a time when the economy is going against it and when the company was not even able to do well when times were good for its sector, what are the company’s options?

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Posted on: November 24, 2008 – 10:51 am in Technology Companies, Telecom, Turnarounds,

Short Sellers Still Love Financial, But Move Into Healthy Companies (AAPL)(MSFT)(XOM)(CSCO)(GM)(F)(SIRI)

AngrybearShort sellers are still betting that financial shares will fall but they have boldly moved into shares of companies which are considered healthy, those with both good balance sheets and relatively strong earnings prospects.Data is as of the end of October.

The short interest in AIG (AIG) rose 44% to 135.7 million shares. Short interest in Citigroup (C) rose 18% to 138 million. Shares short in Morgan Stanley (MS) were up 85% to 44 million. Shares short in Well Fargo (WFC) jumped 14% to 151.4 million. The short interest in American Express (AXP) rose 37% to 30.3 million.

"Safe" companies were also attacked by short sellers. Shares short in P&G (PG) rose 39% to 46.3 million. The short interest in GE (GE) rose 18% to 79.8 million. Shares short in AT&T (T) rose 30% to 41 million. The short interest n Caterpillar (CAT) was up 31% to 26.7 million.Short interest in Exxon (XOM) rose 18% to 39.5 million. Shares short in Microsoft (MSFT) rose 20% to 82.8 million. Shares short in Oracle (ORCL) were up 37% to 43.6 million. Short interest in Cisco CSCO) rose 9% to 61.4 million. Shares short in Apple (AAPL) moved up 16% to 28.1 million

Short sellers were willing to make huge bets against companies in deep financial trouble. Shares short in Qwest (Q) rose 24% to 70.7 million. The short position in Ford (F) was up 4% to 305.2 million. Shares sold short in GM (GM) rose 10% to 102.6 million. The short interest in Motorola (MOT) was up 29% to 40 million. Shares short in Nortel (NT) were up 28% to 40.7 million. Short interest in Sirius (SIRI) moved up 23% to 285.2 million.

Data from NYSE and NASDAQ.

Douglas A. McIntyre

Posted on: November 12, 2008 – 4:18 am in Short Interest, , , , , , , , , , , , , , , , , , ,