In the news: CNBC host is ‘mad’ about Tekelec – again!
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MORRISVLLE, N.C. – Telecommunications software and gear maker Tekelec (Nasdaq: TKLC) continues to have a big fan among Wall Street’s media elite.
CNBC’s Jim Cramer on Thursday night praised Tekelec for the second time in less that two months in his “Mad Money” program.
"I think that one rocks. Even the FCC chairman is on board saying we need more infrastructure,” Cramer said about Tekelec. (Watch the video here.)
His reference to the Federal Communications Commission chairman was based on the agency head’s warning about a coming traffic jam for radio spectrum.
Tekelec shares traded up 35 cents at $16.37 Thursday afternoon and kept rising to close at $16.50.
On Aug. 12, Cramer praised Tekelec as one of the companies best positioned to capitalize on growing mobile communications worldwide.
In the Oct. 8 program, Cramer said the company remains strong even though its shares were hammered in August after its most recent quarterly earnings report and revenue forecasts.
Tekelec focuses on signaling and messaging technology, especially in wireless – areas of the global economy that has weathered the economic storm as the increase of wireless devices and networks increases worldwide. Its shares have nearly doubled in value since sinking to $10.63 on Nov. 20. Shares on July 23 hit $19.68, its 52-week high.
Copyright 2012 WRAL Tech Wire. All rights reserved.
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