Peter Hofstra
Nortel AS
NTEL-T
DON'T BUY
Apr 19, 2005
Delaying their 1st quarter earnings, but don't read too much into that. Have been through a lot and it will be a long time repairing that culture. Has really slipped backwards in the business market. Still a tough end market for them.
If you own the stock, you are playing that there is some value in the assets they own. The company is not a going concern. Have a huge deficit hole in their pension plan. Individual parts of the company may be better being sold off.