Alcatel Lucent SA (ADR) (NYSE:ALU)'s newly appointed CEO, Michel Combes, recently announced plans to cut costs. Combes said he aims to raise 2 billion euros ($2.7 billion) by 2015 through job cuts and asset sales.
The deal between Nokia and Alcatel-Lucent is almost drawing to a close. The European Commission has given its approval to the Finnish company to acquire the French global telecom equipment company for $16.6 billion.
Alcatel Lucent SA (ADR) (NYSE:ALU) plans to update on its new growth strategy later this year. The company is entering the final leg of its turnaround plan and CEO, Michel Combes, said he remains focused on completing the process successfully.
It was a big contract win for Alcatel Lucent SA (ADR) (NYSE:ALU). The company was awarded a big 4G deal by China Telecom, which would make it one of the three top suppliers of high-speed mobile broadband access.
Nokia Corporation (ADR) (NYSE: NOK) shares were volatile in 2015, and are up 5 percent since January 4 this year. Argus' Jim Kelleher upgraded the rating for the company from Hold to Buy, with a price target of $12.
Nokia Corp (ADR) (NOK) stock has fallen 20% this year, with investors realizing that it is going to take some time to create the cost savings and operating synergies that the company promised investors when it merged with Alcatel Lucent SA (ADR) (ALU).
In the past month, shares of Alcatel-Lucent (NYSE:ALU) have declined more than 24% after rising steadily in 2013. Given Alcatel-Lucent's cheap valuation and significant asset sales, the stock might just be presenting a good long-term investment ...