Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Markets & Finance

Salomon Raises Opinion on Lucent

Lucent (LU) posted a Q2 loss per share of $0.37 (pro forma). Salomon Smith Barney upgraded its rating on the shares to outperform from neutral.

Analyst Alex Henderson says the company's revenues were ahead of expectations, and its per-share result was roughly in line with forecasts. Given the sharp erosion at Cisco and Nortel, Henderson thinks the company's in-line results were significantly better than the fears harbored by most investors. The analyst thinks Lucent's balance sheet looks okay despite its steep operating losses. He notes its planned restructure charge increased from previously estimated $1.6B-$1.6B to at least $2.7B; benefits are seen at $2B plus. Henderson says operating costs are being trimmed faster than expected, and the company looks on track to reach breakeven within the year. He has a $13 price target.

blog comments powered by Disqus