Alcatel-Lucent shares rally as Verwaayen preps results


Alcatel-Lucent shares rally as Verwaayen preps results

Alex Scroxton

Shares in struggling Alcatel-Lucent have rallied today as recently-installed CEO Ben Verwaayen puts the finishing touches to his first earnings announcement in charge, scheduled to be released tomorrow.

Alcatel-Lucent watchers are tipping the numbers to be better than anticipated thanks to the impact of the strengthening dollar, but according to analysts quizzed by Reuters, Verwaayen is not expected to rock the boat with any major restructuring announcements or new initiatives.

Verwaayen, who took over at the Franco-American comms giant after the ignominious exit of former boss Pat Russo over the summer, gained recognition in the industry for turning around the fortunes of BT, and Alcatel-Lucent is banking on a repeat performance.

In its last set of quarterlies, Alcatel-Lucent said it expected its third quarter revenues to be flat to slightly down sequentially, followed by a strong ramp in the fourth quarter.

The firm also named Robert Vrij, formerly of Openwave Systems, as the new head of its Americas division. Vrij will be based out of Alcatel-Lucent's New Jersey hub and replaces the outgoing Cindy Christy. Vrij must now hit the ground running as Alcatel-Lucent's North American arm has been repeatedly fingered as the source of much of its woes.

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