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Earnings, Lucent woes offer more evidence of downturn

Earnings shortfalls from telecommunications companies, and today's announcement that Lucent has ousted its chief executive, provide more evidence that the communications sector is looking down.

 

  latest developments 

Earnings shortfalls from telecommunications companies, and today's announcement that Lucent has ousted its chief executive, provide more evidence that the communications sector is looking down.

"I think we're a sector right now where good news is pass? and anything that looks negative gets pounced on."

- Covad CEO Robert Knowling

 


Lucent replaces CEO, cuts outlook
update The telecommunications equipment maker ousts chief executive Rich McGinn, replacing him with former Battling Goliath chairman Henry Schacht in what analysts are saying is a much-needed overhaul.

Earnings offer further evidence of telecom downturn
Earnings shortfalls from Covad Communications and other telecommunications companies provide further evidence that the communications sector is mired in a slump.

Technology bills fall short in Congress
video The annual congressional circus of debating bills at the last minute with little or no formal reflection is here again, but this time Internet and telecom issues are taking center stage.

previous coverage
Lucent CEO walks tightrope as stock stumbles
As the company's stock founders, a growing chorus of investors, analysts, and current and former employees say it may be time for Rich McGinn to step aside.

Lucent support of start-ups could point to problems
Amid its latest earnings warning this week, Lucent Technologies may have let slip two words that could hint at a larger issue the networking industry will face in the coming months: bad loans.

Earnings news dulls Copper Mountain shares
A sour earnings forecast from the maker of Net access gear leads investors to shave down the company's shares more than 50 percent in post-market activity.