Alcatel-Lucent has had one heck of a day.
The company today announced it has been granted a 3-year, $55 million deal with wireless provider Cellular South to upgrade the latter's network in Mississippi and Tennessee. ALU will provide the equipment, services, and software in providing enhanced mobile services for the nation's largest privately held wireless provider.
In related news, Alcatel-Lucent also announced a new University Innovations Program. Under the program, the company revealed they are in negotiations with the Georgia Institute of Technology to (ever-so-humbly, I might add) establish the Alcatel-Lucent Center of Excellence. The center, funded by ALU, will focus on ultra-high bandwith services to develop augmented reality applications and massive multiplayer online games for mobile devices.
According to figures released by the Nasdaq, short interest has decreased 4.44% from a month ago, with 0.81% of the stock's float shorted. ALU's Schaeffer's put/call open interest ratio (SOIR) checks in at 0.21, indicating a fairly bullish sentiment. Analysts at Zacks obviously agree, as 11 of the 12 analysts following the equity rate it a hold or worse.
Shareholders haven't responded positively to Alcatel's busy day, though, as shares have lost more than 3.5% during intraday trading.