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Nortel Stock Up; Analysts Mixed on Outlook

Posted on June 13, 2008

All of a sudden, investors can't seem to get enough of Nortel Networks Inc. (NT).Shares in the wireless network company are up big for the second day in a row Thursday, following Wednesday's announcement that the company would shift its focus away from fourth generation WiMax technology and concentrate instead on the long term evolution [LTE] wireless standard. Nortel also reiterated its revenue guidance of low single-digit top line growth during an analyst day held Wednesday, and said gross margins are expected to reach approximately 43% on operating margin improvements of nearly 7% year-over...

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analyst , stock up , wimax