Acme Packet (APKT) Dips as MetroPCS (PCS) to Scrap VoLTE Plans

October 9, 2012 1:23 PM EDT
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Price: $29.24 --0%

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    6 Buy, 15 Hold, 2 Sell

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    Up: 22 | Down: 34 | New: 34
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Acme Packet (Nasdaq: APKT) is notably lower on the session following news out of MetroPCS (NYSE: PCS) today.

According to slides presented by PCS related to its proposed merger with Deutsche Telekom's T-Mobile unit, it will not be rolling out VoLTE via is NewCo entity.

Mizuho Securities said that VoLTE would be a critical demand driver for Session Border Controllers in FY13 and the decision by PCS was an "incremental negative."

Acme Packet CEO Andrew Ory recently commented that VoLTE wouldn't have seen a real scaling until FY14, but the adaption would need purchasing in FY13 to get the process underway.

Earlier, BMO Capital started coverage on Acme Packet at Market Perform and an $18 price target.

Shares of Acme Packet are down 60 percent over the same period last year and off 5.8 percent on today's session.

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