Lucent Technologies (NYSE: LU) advanced 37 U.S. cents to $10.08 in morning trading Tuesday, following news of deals with Global Crossing (NYSE: GX) and China Unicom (NYSE: CHU). Lucent said it landed Global Crossing as the first customer for its WaveStar LambdaRouter communications switch. The "m...
Nortel Networks (NYSE: NT) dropped 69 U.S. cents to $14.53 in morning trading Friday, after the Canadian telecommunications company said it is beginning the search for a successor to its chief executive officer John Roth, who plans to retire next year. Nortel also said its chief operating officer w...
Entrust Technologies (Nasdaq: ENTU) picked up 18 U.S. cents to $7.05 in morning trading Monday, after the Internet security company said it found a new president and chief executive officer. F. William Conner, 42, joins the company from Nortel Networks, where he worked as vice president of e-busin...
Nortel Networks (NYSE: NT) fell 38 U.S. cents to $17.42 in morning trading Friday, after the telecom company reported a quarterly loss and said it will lay off more workers. The Toronto, Canada-based communications company said that revenue for the first quarter ended March 31st slipped to US$6.18...
In a bid to survive in a slumping economy, Egghead.com said Friday that it has given pink slips to 21 workers in the company's Menlo Park, California offices and to 157 workers in its Vancouver, Washington facility. The cut will reduce Egghead.com's workforce by 29 percent. The company said that...
Tellabs (Nasdaq: TLAB) plummeted US$7.87 to $32.88 early Friday after the telecommunications equipment maker slashed its first-quarter earnings projections for the second time in a month. The Lisle, Illinois-based firm said it was forced to revise its guidance as a result of reduced or delayed spen...
Nortel Networks (NYSE: NT) dropped US$2.27 to $14.49 in morning trading Wednesday after the telecom company announced a second set of layoffs and again reduced expectations for first-quarter results. Analysts at Lehman Brothers and First Union Securities lowered their estimates for Nortel to ref...
Red Hat (Nasdaq: RHAT) rose US$1.31 to $6.53 in morning trading Friday after the company, which makes software for the free Linux operating system, said it broke even before extraordinary items in the fourth quarter ended February 28th. Analysts were looking for a loss of a penny per share. Red ...
A group of investors filed a lawsuit against Priceline.com Friday, alleging that the name-your-price e-tailer conspired to drive up the price of its shares after its initial public offering (IPO). The suit alleges that Priceline's underwriters exchanged shares at the offering price of US$16 ...
Despite the common perception that the recent wave of technology layoffs is due to companies being unable to make payroll, it appears that is not necessarily the case. While some embattled dot-coms and tech companies are certainly at the end of their financial ropes, others have quite different...
Homes.com announced Wednesday that it is laying off approximately 150 employees in a bid to preserve cash and move toward positive cash flow from operations. The layoffs, which represent approximately 40 percent of the company's employees, will be made in sales, product development and adminis...
JDS Uniphase (Nasdaq: JDSU) fell US$2.81 to $29.81 in morning trading Tuesday after announcing 3,000 layoffs. JDS, an Ottawa, Ontario-based maker of fiber-optic components, said most of the cuts will cover manufacturing jobs in San Jose, California and Nepean, Ontario. The reductions "reflect oppor...
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