Seeking Alpha

Tellabs (TLAB) +15.3% after declaring a $1/share special dividend and naming interim chief Dan...

Tellabs (TLAB) +15.3% after declaring a $1/share special dividend and naming interim chief Dan Kelly its permanent CEO. The telecom equipment vendor, which has long been bleeding share due to its exposure to legacy technologies such as SONET/SDH, closed yesterday not too far away from 16-year lows. Some may be hoping Kelly's R&D background will help Tellabs improve its competitive footing.
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