Alcatel Lucent SA (ADR) (NYSE:ALU) Strives to Strengthen its Position Through Asset Selling
Alcatel Lucent SA (ADR) (NYSE:ALU) is planning to sell a wide range of its assets in order to boost finances. The company’s Chief Financial Officer said that a large number of Quarterly losses and a reduction in their cash quantity has forced them to adopt the decision of selling various assets.
About 30,000 patents and 15,000 patent applications stand waiting for the company, based in Paris. Chief Executive Officer Ben Verwaayen said that large amounts of debt that remains due over the next three years is slowing down the former BT Group Plc (BT/A) CEO’s efforts.
The CEO’s goal to keep the profit of the company sustained is not being achieved since he took over in September 2008. When he joined the company, its share fell about 80%. A licensing agreement is being announced in February as a part of the plan to enhance the cash flow that in return will deliver a large amount of cash for the company.
At the close of the trading day, Alcatel Lucent SA (ADR) (NYSE:ALU) shares declined -4.63% to settle at $1.03. Intraday trading was between $1.02 – $1.09. In the past year, the stock has traded within a range of $0.91 – $2.66. The last session’s volume of 27,359.00 shares was down from the average daily trading volume of 19.23 million shares.
Ericsson (ADR) (NASDAQ:ERIC) shares were down -0.41% to close at $8.54. The stock traded between $8.54 – $8.65 during the last trading session. In the last 12 months the shares have traded between $8.23 and $10.72. The last session’s volume of 4.17 million shares was a bit higher than their average daily trading volume of 4.12 million shares.
ADTRAN, Inc. (NASDAQ:ADTN) shares in the last session were up +0.62% closing at $17.82. The stock traded in a range of $17.60 – $17.91. In the last year the stock has moved within a range of $15.38 – $38.95. The last session’s volume of 933,004 shares was down from their average daily trading volume of 1.92 million shares.
Another rival company, Sonus Networks, Inc. (NASDAQ:SONS), traded up +1.08% moving to $1.40. Intraday trading recorded the stock price in a range between $1.36 – $1.42. In the previous 52 weeks the stock has traded between $1.36 – $3.11. The last session’s volume of 1.36 million shares was up from their average daily trading volume of 1.21 million shares.