Last weak, Goldman Sachs said Alcatal-Lucent revenue was in "free fall" due to management’s inability to properly manage the merger of the two telecom equiment markers. The ALU stock was at $15.28 in January, but pulled back to $11.44 on fears that the merger was a train wreck.
Word is out today that Verizon (VZ) has given ALU a $6 billion contract to upgrade its wireless network for the speed necessary to offer video and internet over their infrastructure. The contract is for three years.
A bit of an embarrasement for Goldman.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
The Modern Investment App For a Richer Tomorrow (Sponsored)
Robinhood set out to democratize investing to individuals, and it’s not slowing down. The app makes it possible to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
With FDIC insurance ,an award winning design, and benefits like IRAs and more, Robinhood could be your path to a richer tomorrow.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.