March 15, 2001 |
Lucent Technologies Inc., struggling with losses and heavy debt, said it is considering the sale of its fiber-optic cable unit. Analysts said Lucent could fetch $4 billion to $8 billion for the unit, although given the weakness in fiber-optic stocks the lower figure is more likely. Lucent, the world's biggest maker of telecommunications equipment, said forming a joint venture with another company for the Optical Fiber Solutions unit is another option.
December 13, 2001 |
Prudential Financial Inc., the No. 2 U.S. life insurer, launched the largest initial public offering ever in the insurance business Wednesday, selling $3 billion in stock to investors. Newark, N.J.-based Prudential sold 110 million shares, or about 19% of the company, to investors at $27.50 a share, said co-lead underwriter Goldman Sachs & Co. Investment bank Prudential Securities, a unit of Prudential Financial, was the IPO's co-lead manager.
April 10, 2001 |
Prudential Insurance Co. of America estimated Monday that its initial public offering could raise as much as $3.9 billion, which would make it the fourth-biggest first-time stock sale in U.S. history. The No. 2 life insurer's board approved the plan to go public last December. The Newark, N.J.-based company filed for the IPO under the name Prudential Financial Inc., listing Goldman, Sachs & Co. and its own Prudential Securities Inc. unit as underwriters.
December 17, 2003 |
Broadcom Corp., which makes communications chips for cable modems, set-top boxes and home-networking products, said Tuesday that it would pay PCTel Inc. $3.5 million and become a customer to resolve a patent-infringement lawsuit. PCTel, a Chicago maker of wireless-networking software, agreed to drop its lawsuit and to license Broadcom's use of modem patents and two ethernet-networking patents. PCTel also promised not to sue Broadcom for infringing any other patents. PCTel sued 3Com Corp.
February 21, 2001 |
Agere Systems Inc., the Lucent Technologies Inc. unit whose planned initial stock sale is expected to be the second-biggest in U.S. history, may record a "significant" operating loss in its fiscal second quarter as customers cancel orders. Agere, Lucent's fastest-growing business, said in a filing Tuesday that it expects sales to fall in its fiscal second quarter ending March 31 from its first quarter.
May 29, 2001 |
French telecommunications equipment maker Alcatel continued negotiations over the weekend to buy floundering U.S. rival Lucent Technologies Inc. for about $32 billion and an agreement could be announced Wednesday, sources familiar with the situation said Monday. The two equipment manufacturers, who declined to comment, held negotiations throughout the long holiday weekend and worked to settle final details, sources said.
April 25, 2001 |
Struggling telecommunications equipment giant Lucent Technologies Inc. reported a $3.7-billion loss in its fiscal second quarter Tuesday, yet its stock surged on optimism that its long-awaited turnaround could be near. The company, based in Murray Hill, N.J., said the pro forma loss for the quarter ended March 31, excluding restructuring charges and other one-time costs, was 37 cents a share, contrasted with a gain of 16 cents in the year-ago period.
July 26, 2001 |
Compaq Computer Corp. posted sharply lower second-quarter profit and sales Wednesday and said sales could continue to slide in the coming months as a downturn in the computer sector spreads around the world. "It's an understatement to say that we're in the midst of an extremely challenging global market," said Michael Capellas, chairman and chief executive. The No.
June 27, 2001 |
Struggling Lucent Technologies Inc. suffered another costly indignity on Tuesday as both Moody's Investors Service and Fitch relegated the telephone equipment firm's long-term debt to junk status. The ratings cuts follow a similar step by Standard & Poor's two weeks ago and affects $3.8 billion of Lucent's debt and further limits the company's ability to raise money at reasonable prices through the bond market.