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February 22, 2013
07:23 EDTADTNAdtran unlikely to win AT&T U-Verse business, says Jefferies
Jefferies believes AT&T (T) will soon select a vendor for equipment used to upgrade the old Fiber-to-the-Curb, or FTTC, infrastructure that was deployed in the heritage BellSouth territory. The firm estimates the opportunity at $50M over two-to-three years and thinks Adtran has a less than 25% chance of winning the business. Further, Jefferies thinks issues of carrier capital spending trends and potential market share losses are not fully priced into shares of Adtran. The firm keeps an Underperform rating on the stock with a $13.25 price target.
News For ADTN From The Last 14 Days
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February 22, 2015
11:39 EDTADTNADTRAN announces retirement of CFO James Matthews
ADTRAN announced the retirement of its CFO, James Matthews. Matthews’ retirement as SVP – Finance, CFO, Treasurer and Secretary of the company will be effective March 16. Matthews’ retirement as a Director will take effect with the company’s Annual Meeting on May 13; he will not stand for reelection. Matthews is retiring in order to spend time with his family. The company also announced that the Board has elected Michael Foliano, SVP – Global Operations, to the position of Interim CFO. Foliano will assume these responsibilities upon the effectiveness of Matthews’ resignation and will work with Matthews in transitioning these responsibilities until and after that date.

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