I can appreciate your sense of disappointment but one must remember that the financial institutional goal is to get people to buy and sell stock so they can make money. From the last quarterly report, even though the AT&T overhang still remains, probably this carrier is not going to completely divorce itself from a steady and reliable provider. Also new business that was mentioned at that report, especially the Megaphone deal sounds to be a great boom for them. I would think that a company that was concerned with a falling business trend would not be hiring and growing internally. Just my thoughts on the matter. I think as this stock price reacts to all the potential directions that it might go, when the next quarter ends will provide more direction and surprise as to how well the company is now doing. I don't think Tlabs wants to boast about their business too much to draw more competitive attention but will keep quietly winning business and expanding their core services.
There's no sizzle with Tellabs. When was the last acqusition? How do they show some growth prospects other than organic, spark interest in the company's future. Maybe they should step out of the box and buy Infinera.