Alcatel-Lucent Scores $1 Billion Chinese Order (ALU)
Alcatel-Lucent (NYSE: ALU) announced after the close that it has signed a $1 Billion (one billion dollars) framework agreement for 2008 with China Mobile where it will provide mobile communication equipment and services to Chinese mobile giant. The agreement was…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Alcatel-Lucent (NYSE: ALU) announced after the close that it has signed a $1 Billion (one billion dollars) framework agreement for 2008 with China Mobile where it will provide mobile communication equipment and services to Chinese mobile giant.
The agreement was secured through Alcatel-Lucent’s flagship company in China, Alcatel Shanghai Bell. Alcatel-Lucent will provide China Mobile with the following:
- mobile core network solutions,
- wireless network solutions,
- TD-SCDMA equipment,
- applications,
- transmission & IP router equipment,
- and the related services.
As far as $1 Billion and how that relates to 2008, First Call has estimates for the telecom equipment company projected north of $26 Billion for the entire fiscal 2008.
Alcatel-Lucent closed up 1.6% at $6.73 along with tech shares today in regular trading. Late after-hours trading has the stock up roughly 4% at $7.00, although listed volume and this far into after-hours may be very different than tomorrow. Its 52-week trading range is $5.08 to $14.57.
Jon C. Ogg
June 16, 2008
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
