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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (46214)	7/14/2010 12:33:40 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70360

uly 14, 2010, 10:32 a.m. EDT · Recommend (1) · Post: Adtran stock leaps 7% on strong profit report Explore related topics ADTRAN Inc STORYQUOTESCOMMENTS SCREENER AlertEmailPrintShare By Jeffry Bartash ADTN 333231302928 8a9a10a11a12p1p2p3p WASHINGTON (MarketWatch) - Shares of Adtran Inc. (ADTN 30.95, +2.09, +7.24%) jumped 7% in Wednesday trades after the network-equipment maker posted record sales and a 47% increase in second-quarter net income. The small Alabama-based vendor reported a profit of $27.8 million, or 44 cents a share, on revenue of $150.4 million, which reflected a 24% increase. The company had been expected to earn 35 cents a share, according to analysts polled by FactSet Research. Adtran also expressed confidence that growth would continue as large cable and phone companies increase spending on certain equipment to modernize their networks. In recent trades, Adtran stock was up $2.02 at $30.88. Shares briefly hit a 52-week high. [Johnny- ADTN Is usually a good indication of demand from the carriers for corporate network demand. Good sales means companies are upgrading their networks. So despite the bad economy the last year, companies are at least looking ahead to some degree of growth otherwise they would not be upgrading their service requirements.]