CNET también está disponible en español.

Ir a español

Don't show this again

Tech Industry

Glenayre Technologies shares on the rise

    Glenayre Technologies Inc. (Nasdaq: GEMS) shot up 1 21/32, or 42 percent, to 5 5/8 Friday after announcing that it formed a joint marketing, research and development partnership with AG Communication Systems, a subsidiary of Lucent Technologies Inc. (NYSE: LU)

    The two companies will team up to develop a next-generation Intelligent Network-grade applications platform for the prepaid services market.

    This new platform will support current global telecommunication standards in the wireless telecommunications industry. It will also provide for smooth, software-only upgrades to support emerging network standards.

    Glenayre Technologies shares moved up to a 52-week high of 12 1/4 last July before falling to a low of 3 1/8 in April.

    First Call consensus expects it to break even in its second quarter and earn 19 cents a share in the fiscal year.

    Four of the six analysts following the stock rate it a "hold."

    Lucent Technologies shares were up 1 15/16 to 70.>