What was going on today? Some guy sold more than 200K in the last half hour of trading!!! There must be some new soon.
Personally, I think the rumor of LC buying PCTL is bullshit. It's just a rumor. Lucent buying OCTL has nothing to do with PCTL (maybe the ticker is similar? :-)
First, OCTL made 41c in last quater, which beat the street estimate. PCTL is losing money now, and it going to lose more for at least the next few quaters. Even if LC ever wants to buy PCTL, it could wait a few more month at even lower price.
Second, OCTL dominates the market of voice mail systems. PCTL is losing its market share in its core business, the group systems (both revenue and unit wise). With more companies joining the competition, PCTL's future is really uncertain. It could be like CLI and VTEL soon.
Third, Lucent's real interest is the things that "make communications work", i.e. networking equipments. I don't think Lucent is going to get its hands dirty in the communication terminal business. It's like IBM buying NOVELL.
Well, about cutting cost. I'm not even sure is a good thing for PCTL in a long run. Some friends told me that PCTL engineering is under staffed. If PCTL's cut comes from engineering, many projects have to be dropped or at least delayed. And it's not easy to find engineers these days. But we have to wait till PCTL annouces it cost cutting plan.
Tell me that I'm pessimistic. I still hold on my PCTL stocks.
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