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Technology Stocks : Lucent Technologies (LU)

LU 2.640

-2.9%

Jan 9 9:30 AM EST

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To: David Hansen who wrote (18784)	12/7/2001 1:20:35 PM
From: elmatador	Read Replies (2) of 21876

Look to this anomaly: United States-based equipment supplier Lucent Technologies (NYSE: LU) has won a US$4.8mn contract to supply an ATM network for the Brazilian division of corporate service provider Comsat, a subsidiary of Lockheed Martin Global Telecommunications (LMGT), Lucent Brasil said in a statement. The two-year contract covers access for 26 cities, starting in January 2002 with a US$800,000 project to link Sao Paulo, Campinas and Rio de Janeiro. Business News Americas (BNamericas.com) That was yesterday. Now today: Lockheed to take $1.7bn charge for telecoms exit By FT.com staff Published: December 7 2001 14:47 \| Last Updated: December 7 2001 15:28 Lockheed Martin, US aerospace and defence company, is to take a one-off charge of $1.7bn in the fourth quarter as part of plans to quit its Global Telecommunications services business. The company on Friday blamed overcapacity in the telecoms sector and deteriorating business conditions in Latin America for the decision. It said certain sections of the telecoms business would be assigned to other parts of the company and it would sell the remainder. Lockheed said about 650 people would lose their jobs as a result of the reorganisation but these employees would be able to apply for jobs elsewhere in the company. news.ft.com. What is going on here? Lucent is building a network for a company that is getting rid of this business due to overcapacity?

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