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    Mark Sue Downgrades NT started by Mark Evans
    $1.80 started by Mark Evans
    NT has dropped 13.3%, or 28 cents, today to $1.80.

    Meanwhile, the Dow is down 3.75%, Nasdaq 5.1% and the S&P 500 4.7%.

    A bad, bad day.
    Technorati Tags: Nortel
    Nortel @ WiMax World started by Mark Evans
    TD Securities analyst Chris Umiastowski’s faith in Nortel’s prospects disappeared when the company unveiled its intention to sell the metro Ethernet network business and reduced its revenue growth expectations.

    So, it shouldn’t come a huge surprise that Umiastowski’s enthusiasm for Nortel at WiMax World last week was,
    Keep Your Chins Up, Nortel Employees started by Mark Evans
    As Nortel struggles to find its strategic direction, it has no doubt made for compelling and dramatic activity.

    There’s lots of questions about the proposed sale of the metro Ethernet network business, Nortel’s crumbling stock price. and what’s going to happen next month during the third-quarter conference calls.

    But one thing that also needs to be taken [...]
    A Change at the Top? started by Mark Evans
    Mike Zafirovski has now been Nortel’s CEO for three years.

    Since his heralded hiring, Nortel has dealt with its accounting scandal, resolved multi-billion class-action lawsuits, slashed operating expenses by eliminating thousands of employees and moving operations to low-cost markets such as Mexico, China and Turkey, sold the UMTS business
    RBC Slashes Target Price started by Mark Evans
    RBC Capital Markets analyst Mark Sue has reduced his target price on NT to $6 from $8, suggesting that it will be more difficult for IT managers to stay with their incumbent enterprise network equipment suppliers.

    In July, Sue said that Nortel could hit $18 by 2011 if everything went according to plan. Clearly, things [...]
    Nortel’s Market Cap Sinks Below $1-billion started by Mark Evans
    Nortel shares slipped to $2.01 earlier this afternoon, giving the company a market cap of less than $1-billion ($997.7-million to be exact).

    Question: Is Nortel ripe for the picking? Putting aside the $4.5-billion of debt and the money-losing businesses, does it make sense for someone to snap up Nortel given its declining value?
    Technorati Tags: Nortel
    Nortel: Dead Man Walking? started by Mark Evans
    Here’s an interesting scenario: Nortel’s strategic direction is unwinding the company as opposed to becoming an enterprise player.

    And here’s how it could pan out:

    - Metro Ethernet network (MEN) business is sold to Huawei

    - Wireless unit sold to Ericsson

    - Enterprise business old to IBM

    It fits
    Dion Joannou is Still Alive and Well started by Mark Evans
    A year after Dion Joannou left Nortel is pursue “other personal interests”, he’s slowly but surely getting back into the business world.

    His latest endeavor is becoming a director with WrapMail, which provides P2P e-mail marketing software.

    According to the WrapMail’s press release, Joannou “was responsible
    Some Interesting Number-Crunching started by Mark Evans
    For anyone looking for some interesting number-crunching on Nortel, check out Gauging Corporate Financial Results, which does “Financial Analysis to convert the Balance Sheet, Income Statement, and Cash Flow data found in 10-K and 10-Q reports into understandable measures of Cash Management, Growth, Profitability, and Value”.

    Based
    Food for Thought: R&D Ratio started by Mark Evans
    Here’s some food for thought when it comes to Nortel’s operating expenses: did you know that Nortel’s R&D to market capitalization ratio is 1.57? ($1.75-billion of R&D compared with a $1.12-billion market cap).

    Not surprisingly, it’s the highest ratio of any company spending more than 10% of its market cap on R&D. #2 on the list [...]
    Twitter, Anyone? started by Mark Evans
    I’m a big fan of Twitter as a way to distribute and consume information, as well as communicate in short bursts.

    So, I’ve created a Twitter feed for All About Nortel where I’ll do some micro-blogging - stock price movements, Nortel news announcements, articles/blog posts about Nortel.

    There’s also a new widget on AAN where you can [...]
    Poll: Nortel’s Strategic Focus started by Mark Evans
    It’s been awhile since the last poll but given the news recently, it seems like the right time to get a sense of how much confidence there is about Nortel’s ability to transform itself into a services and software company with a major focus on the enterprise.

    How Confident Are You in Nortel’s New Strategic [...]
    NT Hits $2.33 started by Mark Evans
    It’s not a good day on the stock markets so it’s not a surprise that Nortel is getting caught in the downdraft. The stock touched a new record low of $2.33 earlier today.

    That caught my eye after Independent International Investment Research, which has been bullish on Nortel, issued a note suggesting that Nortel is [...]
    A Post-MEN Plan: Pay Down Debt started by Mark Evans
    One of the big questions surrounding Nortel’s plan to sell its fast-growing metro Ethernet network business is: why? Why kick out MEN when it’s one of your few growth assets?

    While Nortel may publicly proclaim it’s part of a strategic focus on enterprise/carrier VoIP and services/software, another explanation is Nortel needs cash to pay down debt. [...]
    UBS Upgrades NT to “Buy” started by Mark Evans
    UBS analyst Nikos Theodosopoulos has upgraded Nortel to a “buy” - apparently for the first time in more than four years - based on the belief that the impending sale of the metro Ethernet network business could lead to the sale of the whole company or a break up that would leave Nortel as an [...]
    MEN: Wrong Deal, Wrong Time started by Mark Evans
    Tech Confidential’s Andrea Orr is not a fan of Nortel’s decision to sell its metro Ethernet network business.
    Technorati Tags: MEN, Nortel
    Stewart on Nortel started by Mark Evans
    Duncan Stewart has been following Nortel for a long time as a technology analyst so his thoughts on the company - whether you agree with them or not - are always thought-provoking.

    In his latest Financial Post column, Stewart suggests Nortel’s future hinges on its customers. In particular, can customers deal with the growing uncertainty about [...]
    Morin on MEN started by Mark Evans
    Phillipe Morin, who heads up Nortel’s Metro Ethernet Network business, sure has a funny of way of playing M&A poker.

    A week after Nortel unveiled plans to sell the $1.5-billion business, Morin told the Globe & Mail that the announcement has prompted more potential buyers to come out of the woodwork. Strange.

    And now, in an interview [...]
    Okay, I’m Confused started by Mark Evans
    Just so everyone’s clear, Nortel is selling its metro Ethernet network business, which had sales of $1.5-billion last year.

    The business includes the optical and carrier Ethernet portfolios. It does not include the enterprise Ethernet portfolio.

    So, how much of MEN is Nortel planning to sell? All of it? Most of it? Is enterprise Ethernet part of [...]
    Moody’s Downgrades Debt Outlook started by Mark Evans
    Not that this comes as a surprise but Moody’s Investors Services has reduced the outlook on Nortel’s debt to “negative” from “stable”.

    Moody’s said the decision was made after Nortel said last week it would have lower-than-expected results, and planned to sell its metro Ethernet network business.<br
    The Roese Mobilize Interview started by Mark Evans
    On the day that Nortel lowered its financial guidance and unveiled plans to bail from the optical business, Nortel executives would have probably preferred to hunker down.

    CTO John Roese didn’t have the option as he was a speaker at the GigaOm Mobilize conference talking with Om Malik. Here’s a mini-transcript of their conversation.
    Technorati Tags: john [...]
    Nortel in a “Tailspin” started by Mark Evans
    Motley Fool loves to bash Nortel so no surprise that Nortel is among five badly-performing companies it highlights.
    Technorati Tags: motley fool, Nortel
    China Telecom CDMA Rumors started by Mark Evans
    There hasn’t been an official announcement yet but speculation about China Telecom’s CDMA first-round tender suggests the following:

    - Huawei received 30% or the orders, securing contracts for the cities of Guangzhou, Xiamen, Wenzhou, Ningbo, Wuxi, and Foshan

    - Alcatel-Lucent secured 20% but failed in Guangdong.

    -
    Who’s Going to Buy MEN? started by Mark Evans
    So, it’s been a week since Nortel unveiled plans to dump MEN - aka Metro Ethernet Network.

    It’s a $1.5-billion/year business, growing at 10%/year that could easily see even better growth if it was de-Nortelized.

    So, who’s going to step at a time when economic conditions are volatile, large customers are showing some skittishness and competition remains [...]
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