Alcatel-Lucent +3.6% after upgrade; Ericsson +2.9% thanks to Nokia

|By:, SA News Editor

Jefferies has upgraded Alcatel-Lucent (NYSE:ALU) to Hold ahead of the company's Oct. 30 Q3 report. The firm cites a more favorable valuation following Alcatel's recent selloff.

Aside from the upgrade, Alcatel could be getting a lift from Nokia's strong Q3 numbers. Fellow mobile infrastructure vendor Ericsson (NASDAQ:ERIC) is also rallying; its Q3 report is due tomorrow.