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Technology Stocks : Alcatel-Lucent (ALU)

ALU 3.460

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Mar 3 4:00 PM EST

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From: Sam	11/17/2011 9:27:19 AM
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It is never a good sign when a company has to actually say this. Alcatel-Lucent has enough cash for operations -CFO BARCELONA \| Wed Nov 16, 2011 1:06pm EST Nov 16 (Reuters) - Franco-American telecom equipment maker Alcatel-Lucent has more than enough cash to run its operations, its chief financial officer reassured on Wednesday. "Our cash position ... is more than sufficient to cover our operating requirements," Chief Financial Officer Paul Tufano told an investor conference. Earlier this month Alcatel-Lucent scaled back its profitability goal for the year, raising new doubts about Chief Executive Ben Verwaayen's ability to turn around the long-struggling telecom equipment maker. Last week Moody's Investors Services cut Alcatel-Lucent's debt rating by a notch, citing its burning through 1 billion euros ($1.4 billion) in cash so far this year. Tufano said the company can access cash reserves of 2.7 billion to 2.8 billion euros.

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