The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Carrier --Standard & Poor's Ratings Services raised its issue rating on Qwest Corp.'s senior unsecured debt to BBB- from BB+.--Lehman Bros. raised its price target...
Infrastructure equipment maker ADC Telecommunications Inc. announced it increased earnings by 9 percent in the past quarter from the same quarter a year ago, but was also forced to restate its earnings for the fiscal year ending Oct. 31, 2006, to include a $6.7...
WESTCHESTER, Ill.—Andrew Corp.’s fourth-quarter results revealed the financial burden the company absorbed in part due to its now-abandoned merger proposed earlier this year by rival ADC Telecommunications Inc. Andrew reported a quarterly loss of $59.7 million, a disappointing turnaround from the year-ago profit of...
Just as the dust settled on ADC Telecommunications Inc.'s failed attempt to merge with Andrew Corp., ADC announced plans to lay off about 225 of its 8,200 employees as part of a restructuring effort. Interestingly, the news came on the heels of Andrew's own...
MINNEAPOLIS—ADC Telecommunications Inc. said it will lay off about 225 people as part of a restructuring program. In a Securities and Exchange Commission filing, the company said the restructuring is an effort to reduce costs.The layoffs, which have already begun, will cover all of...
Since ditching merger negotiations and a takeover bid a few weeks ago, Andrew Corp. has been busy buying back 2.4 million shares of its common stock at an average price of $9.10 per share. "We believe the share repurchase program demonstrates our confidence in...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News.Handset and infrastructure vendorsCredit Suisse First Boston raised its price target on LG...
WESTCHESTER, Ill.—Since ditching merger negotiations and a takeover bid a few weeks ago, Andrew Corp. has been busy buying back 2.4 million shares of its common stock at an average price of $9.10 per share. "We believe the share repurchase program demonstrates our confidence...
Andrew Corp.'s merger-and-acquisition adventures skidded to a full stop last week as the company pumped its brakes on potential deals with both ADC Telecommunications Inc. and CommScope Inc.-preferring instead to go it alone. Andrew announced in May a merger with ADC, but on Aug....
HICKORY, N.C.—In the wake of Andrew Corp.’s rejection of CommScope Inc.’s $9.50 per share acquisition proposal, CommScope said it will not pursue the company further. "After careful consideration with our advisors, CommScope has decided not to pursue its proposal to acquire Andrew Corporation at...
WESTCHESTER, Ill.—Andrew Corp.’s merger-and-acquisition adventures skidded to a full stop as the company pumped its brakes on potential deals with both ADC Telecommunications Inc. and CommScope Inc.—preferring instead to go it alone. Andrew announced in May a merger with ADC, but this week CommScope...
HICKORY, N.C.—CommScope Inc. has shaken up ADC Telecommunications Inc.’s bid to buy Andrew Corp. with a $9.50 per share proposal valued at about $1.7 billion in cash, including the assumption of $186 million in debt. Based on Friday’s closing stock price of $12.22 per...
WESTCHESTER, Ill.-Andrew Corp. reported declining fiscal third-quarter net profits as the company covers restructuring costs in preparation for its proposed merger with ADC Telecommunications.Profits for the quarter fell from last year's $13 million to this year's $7 million, while revenues grew from last year's...
WESTCHESTER, Ill.—Andrew Corp. reported declining third-quarter net profits as the company covers restructuring costs in preparation for its proposed merger with ADC Telecommunications. Profits for the quarter fell from last year’s $13 million to this year’s $7 million, while revenues grew from last year’s...
MINNEAPOLIS—ADC Telecommunications Inc. said it expects its sales from continuing operations for 2006 to come in lower than it previously predicted. Sales are expected to be between $1.28 billion and $1.3 billion. Earlier, the company predicted sales of between $1.35 billion and 1.39 billion....
In a move designed to give the wireline equipment leader a boost in its wireless sales, ADC Telecommunications Inc. said it would pay $2 billion in stock to acquire Andrew Corp. Indeed, a combined Andrew and ADC would reap almost half of its revenues...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. Click here for wireless ratings from past weeks from RCR Wireless News.CarrierRBC Capital Markets started coverage on Dobson Communications with a sector perform rating...
MINNEAPOLIS—Wireline connectivity equipment leader ADC Telecommunications Inc. announced it’s willing to pay $2 billion in stocks to acquire Andrew Corp., a move that would give ADC a major boost in the wireless gear arena.Indeed, a combined Andrew and ADC will reap almost half of...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms. CarriersPrudential Equity Group lowered its subscriber net adds forecast for UbiquiTel Inc., and consequently its EPS forecast for the company’s fiscal 2006. Prudential’s new EPS...
MINNEAPOLIS—ADC Telecommunications Inc. announced it acquired Israeli start-up G-Connect, a developer and manufacturer of systems that serve large and medium-sized Internet service providers. G-Connect’s IP service gateway system is used in high-speed Internet access networks and is specifically designed for managing IP traffic in...
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.
L.M. Ericsson outlined its vision for third-generation evolution, saying that the growing demand for mobile content and the handset's role as a media channel will pave the way for faster deployment of 3G and High-Speed Downlink Packet Access technology. As part of that vision,...
L.M. Ericsson outlined its vision for third-generation evolution, saying that the growing demand for mobile content and the handset's role as a media channel will pave the way for faster deployment of 3G and High-Speed Downlink Packet Access technology. As part of that vision,...
STOCKHOLM, Sweden-L.M. Ericsson released its new Automatic Device Configuration product, which the company said allows carriers to offer services targeted specifically for each user's handset."We see tremendous potential for services beyond voice," said Gunilla Fransson, Ericsson's service layer vice president. "Thanks to our active...
