Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

AP News

Calix rises on news of deal with Ericsson

NEW YORK (AP) — Calix's stock jumped more than 11 percent Thursday, thanks to a deal the broadband equipment company struck to buy the fiber access assets of Swedish wireless equipment maker Ericsson.

THE SPARK: Calix announced Wednesday that it also signed a global reseller agreement with Ericsson, making it Ericsson's preferred global partner for broadband access applications.

Financial terms were not disclosed.

The deal is expected to close in the fourth quarter.

THE ANALYSIS: George Notter of Jefferies believes this is a good transaction for Calix.

"At face value, we like this deal as it jumpstarts Calix's international strategy in a thoughtful, low-risk way," he wrote in a note to clients.

Notter reaffirmed a "Buy" rating a $7 price target for the Petaluma, Calif., company.

SHARE ACTION: Shares of Calix Inc. gained 62 cents, or 11.7 percent, to $5.91 in afternoon trading. The stock has traded in a 52-week range of $4.25 to $15.12. It is down 21 percent for the year to date.

blog comments powered by Disqus