Ford Motor, Alcatel-Lucent, Cisco Shares Generate Heavy Volume Action Today
Ford Motor Company (NYSE:F): Ford says its March auto sales are strong and in line with the sales of January and February, reports Detroit News. In an interview, the company’s sales and marketing chief Jim Farley added that improvements in the housing market has helped boost pickup sales. Projected by consulting firm McKinsey to become the world’s third largest auto market by 2020, India is believed to hold huge opportunities for auto companies, according to The Washington Post. Auto sales in the country, which still has just 13 cars per 1,000 people, are expected to jump 12%-14% annually from 2014-2020, the consulting group said.
Alcatel-Lucent (NYSE:ALU): Last week, BMO Capital upgraded Alcatel-Lucent citing improving fundamentals, overdone liquidity concerns, and valuation. Price target raised to $4 from $3.
Cisco Systems (NASDAQ:CSCO): Cisco announced the completion of the acquisition of privately held Lightwire, Inc. Headquartered in Allentown, Penn., Lightwire develops advanced optical interconnect technology for high-speed networking applications. The acquisition will allow Cisco to deliver cost-effective, high-speed networks with the next generation of optical connectivity, allowing service provider and data center customers to meet the growing demands of video, data, voice, mobility and cloud services. Upon the close of the acquisition, Lightwire employees will be integrated into Cisco’s Transceiver Modules Group Business Unit and Supply Chain Operations Group. Under the terms of the agreement, Cisco paid approximately $271M in cash and retention-based incentives in exchange for all shares of Lightwire.
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