Nortel Profits in Q1 As Unit Sales Finalized

Nortel Networks reported a $355 million first-quarter profit thanks to the sale of several of its assets. The bankrupt telecom equipment maker, once a formidable name in the industry, liquidated its CDMA, LTE access, DiamondWare, and two other, smaller, businesses in the three months ended March 31. The activity led to the financial gains, compared […]

Nortel Enterprise Sale to Avaya Could Mean R&D Job Cuts

Nortel Networks employees might have a rooting interest in who buys pieces of the bankrupt company. A former company executive tells the Ottawa Citizen that it would be bad news if Avaya picks up Nortel’s enterprise unit. Since it’s a niche market – and Avaya is a direct competitor – Avaya probably wouldn’t need to […]

RIM BlackBerry Surprises Investors

BlackBerry maker Research in Motion Ltd. might be losing traction with financial analysts of late, but the company surprised investors with the pronouncement that its profit margins would rebound during the current quarter. The news sent RIM’s stock soaring, where at press time it was up more than 21 percent in late afternoon trading on […]

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