Tellabs Inc. (TLAB) reported fourth quarter EPS of $0.09 Tuesday morning, which beat the consensus estimate of $0.07. The company also announced that it plans to reduce its workforce by about 200 people over the next five quarters.
Tellabs Inc. gapped open higher Tuesday and rose steadily until mid-morning. The stock closed up by $0.69 at $6.59 on the highest volume in 4 months. Tellabs climbed to a 3-month high.
For comments and feedback: editorial@rttnews.com