Market Currents

• Tuesday, October 6, 2009

• 16:23 PM Ciena (CIEN), which makes fiber-optic equipment for the big phone companies, beaten down 7.9% on heavy volume after reports it bid $550M to buy nearly all optic networking and carrier Ethernet assets from Nortel Networks (NRTLQ.PK). Comment!

• Tuesday, July 28, 2009

• 12:06 PM Resolving the many objections to Nortel's (NRTLQ.PK) proposed $1.13B unit sale to Ericsson (ERIC): Ontario's finance minister is pressing Canada to block the deal, to keep patents in Canadian hands. Flextronics (FLEX) settles its issues and withdraws objections. Nortel is still working out objections from Sprint Nextel (S), Motorola (MOT) and SNMP Research. Comment!

• Saturday, July 25, 2009

• 08:59 AM Ericsson AB (ERIC) will acquire Nortel's (NRTLQ.PK) wireless equipment unit for $1.13B cash. It won the Friday night auction for the North American assets. (via) Comment!

• Thursday, March 12, 2009

• 12:51 PM Sources say Nortel (NT, NRTLQ.PK) is shopping its two biggest units, and is finding a suprising amount of interest. "What we are finding is that there may be a lot more value by selling rather than emerging," the source says. Possible buyers: Avaya, Nokia Siemens (NOK, SI), and Siemens (SI). Comment!

• Monday, March 2, 2009

• 11:40 AM Nortel (NRTLQ.PK) posts Q4 loss of $2.14B (-$4.28/share) including a $1.24B goodwill writedown and $951M reduction of deferred tax assets. Revenue of $2.72B vs. $3.2B a year ago. Nortel filed for bankruptcy protection on Jan. 14. (PR) Comment!