LUCENT TECHNOLOGIES (NYSE--LU).(Brief Article)
Multichannel News, May, 2000
Shares of Lucent have dropped 10 percent since May 1, from $63.38 per share to $57.31 May 9, largely due to weakness in the sector. Last Tuesday, Lucent announced that it would sell about $6 billion of optical-networking gear in 2000, up from $4 billion last year. In a prepared statement, optical division head Kathy Szelag said demand for the products was "unprecedented." She added that snags that hit the unit in its first fiscal quarter -- component shortages and a lack of deployment personnel -- have been ironed out.
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