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Pompano Beach, FL -- (SBWIRE) -- 02/07/2013 -- French underdog Telecommunication Company Alcatel Lucent is under black clouds again as the company CEO Ben Verwaayen is exiting from the unprofitable French-US telecommunications gear maker following an unsuccessful four-year bid to recover the business.
Verwaayen reported in a statement that it was obvious to me that now is a suitable moment for Alcatel-Lucent (NYSE:ALU) to look for new CEO. Investors were happy from the news, with shares climbing up 7.7 per cent in early session to (EURO)1.40.
Should ALU a Buy or Sell Now? Find Out Here
The Dutchman's shocking exit arrives as Alcatel-Lucent (ALU) announced shedding of (EURO)1.37 billion ($1.85 billion) in 2012, in contrasted with a (EURO)1.1 billion increase in 2011 same quarter.
Verwaayen moved in Alcatel-Lucent in 2008 following the departure of the former management managed by American Patricia Russo. Russo and her French colleague Serge Tchuruk had organized the $11.6 billion union of Lucent of the US and Alcatel of France.
So far today, Alcatel Lucent SA (ADR) (NYSE:ALU) shares lost -3.51% to $1.65 while the stock is changing hands within a range of $1.59 – $1.78. In the past year, the stock has traded between $0.91 and $2.66. Its average daily trading volume is 17.88 million shares.
Is it the Right to Grab ALU after the Recent Slump? Get Free Trend Analysis Here
Looking at other stocks in the same industry, ViaSat, Inc., Sierra Wireless, Inc. and AudioCodes Ltd. are in the gainers list. Let’s have a quick look on their Market performance.
ViaSat, Inc. (NASDAQ:VSAT) shares are up +20.26% to $47.79 while the stock is trading within the range of $40.46 – $48.18 in the current trading session. In the last 12 months, shares have floated between $33.09 and $48.88. This stock, on average, has trading volume of 188,989 shares.
What was the Moving Force behind VSAT On Bullish Run? Read This Research Report
In this session so far, Sierra Wireless, Inc. (USA) (NASDAQ:SWIR) shares moved up +3.43% reaching $12.06. The stock is trading in a range of $11.41 – $12.16. In the last year the stock has moved within a range of $6.70 – $12.16. The Company’s average daily trading volume is 132,963 shares.
Will SWIR Continue To Move Higher? Find Out Here
Another rival company, AudioCodes Ltd. (NASDAQ:AUDC), is trending +1.88% higher to $4.34. The stock price is hovering in range of $4.22 to $4.39. In the previous 52 weeks, shares price ranged between $1.20 and $4.39. Their average daily trading volume is 143,948 shares.
For How Long AUDC will Fight for Profitability? Read This Trend Analysis report
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