Gerard Matheron could write volumes about how STMicroelectronics NV suffered as orders from its largest customer plunged. Instead, the chief of its biggest European factory has squeezed years of pain into a short slogan hanging over his desk: “Falling down to bounce back stronger.”
Alcatel-Lucent SA is seeking to raise $2.7 billion through a combination of new shares and debt, taking advantage of a stock that has almost tripled since Chief Executive Officer Michel Combes took over to finance the network-equipment maker’s overhaul.
Alcatel-Lucent SA’s Michel Combes prompted a 19 percent jump in his company’s shares, the biggest increase in five years, by reporting earnings that helped show the French network-equipment maker can scale down to survive.
A gauge of U.S. company credit risk declined from the highest level in three weeks as Federal Reserve officials advocated persistent economic stimulus. A unit of Alcatel-Lucent SA plans to issue $750 million in notes.
Alcatel-Lucent SA will eliminate 10,000 jobs as Chief Executive Officer Michel Combes accelerates a 1 billion-euro ($1.4 billion) cost-cut plan to revive the unprofitable French network-equipment maker.