Nortel Networks Corp  (NT) Trade Now »     Rate NT  -  Discuss NT  -  Add to Watch List        

Investors are a bit uneasy today with Research in Motion’s (RIMM) disclosure early this morning that it was trying to bid in the bankruptcy auction coming up this Friday for wireless assets of Nortel (NT), the defunct Canadian telecom equipment vendor.

Filed under: Deals, Rumors, Nortel Networks (NT), Technology

Rumor has it that Nortel Networks (OTC: NRTLQ) will sell its enterprise division in the near future.

This would be part of a broader plan to break the company apart instead of trying to restructure its way out of bankruptcy. The company is planning to sell its CDMA and LTE wireless businesses to Nokia (NYSE: NOK) for $650 million -- the first unit sale since the January bankruptcy filing.

Continue reading Nortel could be dumping enterprise division

Cavium Networks (CAVM) shares have extended their recent rally this morning after Piper Jaffray analyst Auguste Richard upped his rating on the stock to Buy from Neutral, setting a price target of $13.

JDSU (JDSU), maker of optical networking components and other products, this afternoon said it expects revenue for its fiscal third quarter ending in March to be between $275 million to $300 million. That is well short of the current Street estimate of $357.9 million, and down 22% to 28% compared with the year ago quarter.

Telecom gear maker Nortel (NT), which filed for bankruptcy protection two weeks ago, is finally putting an end to one of its big wireless bets. Toronto-based Nortel (NT) is killing off its mobile WiMax business, ending a joint venture with Israel's Alvarion.

WiMax, a super-fast mobile Internet technology, hasn't taken off the way some of its backers had hoped, as many telcos -- like AT&T (T), Verizon (VZ), and T-Mobile (DT) in the U.S. -- opt for a competing technology called LTE.