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ADC stock rises as forecast beats estimates
- Updated: September 5, 2008 - 8:25 PM
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ADC stock rises as forecast beats estimates
Shares of ADC Telecommunications Inc. rose 11 percent Friday after the Eden Prairie maker of phone networking equipment projected annual sales that slightly topped analysts' estimates. After the market closed Thursday, ADC predicted revenue of as much as $1.52 billion for the year ending in October. That compares with the average $1.51 billion estimate of 13 analysts in a Bloomberg survey. ADC shares rose $1.01, their biggest gain since Dec. 13, to close at $10.18.
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