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Gigabit

Stock Market Ironies

4:00 PM -- It's been a tumultuous week on Wall Street as executives at the two largest telcos in the U.S. have single-handedly moved the stock markets up and down with little more than a few sentences worth of commentary.

First it was AT&T Inc. (NYSE: T) CEO Randall Stephenson who sent market indices tumbling when he said that the soft economy was affecting business. (See Whoa Mama Bell!) Then yesterday, Verizon Communications Inc. (NYSE: VZ) calmed things down a bit when its COO, Denny Strigl, said that it was safe from any economic tumult. (See Verizon Doesn't Fear Economy's Slump.)

But while the markets continued their free fall today, Tellabs Inc. (Nasdaq: TLAB; Frankfurt: BTLA) is in the midst of closing out one of its best weeks ever. Its stock has jumped 17 percent since yesterday morning. It's up 3.25 percent today, which is impressive, considering tech stocks on the Nasdaq are plummeting. Tellabs can probably thank Mr. Strigl of Verizon for that. As one of Verizon's main equipment suppliers, Tellabs' investors obviously seem very happy to hear that Verizon feels it's safe from a possible recession. Add that to Verizon's announcement that it plans to aggressively deploy GPON this year and you have one of the best weeks of news ever for Tellabs during one of the worst ever for the rest of the tech market. (See Verizon Preps GPON Push.)

— Raymond McConville, Reporter, Light Reading

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