Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 180.90

+2.1%

Oct 31 9:30 AM EST

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From: John Hayman	1/12/2006 7:52:18 AM
	of 152472

Market watch snip.Europe....Telecoms sink John snip>Europe....Telecoms sink France Telecom slid more than 8% in Paris after saying it expects to report comparable-revenue growth of 2% in 2006, compared with a previous forecast of between 3% and 5%. See full story. The company said second-half 2005 trends, which are less favorable than it expected when it announced a restructuring in the middle of last year, are now expected to continue into 2006. Morgan Stanley cut its rating to equal-weight from overweight, noting concerns about ongoing capex risks. Goldman Sachs also downgraded France Telecom to in-line from outperform. Peers Deutsche Telekom and Vodafone all declined. Deutsche Telekom lost 2.5%, KPN eased 1.7%, BT lost 1.9%, while Vodafone shed 1.5%. Deutsche Telekom said it was maintaining its earnings targets for 2005 and 2006. "It is becoming clear to us that 2006 is unlikely to be a vintage year for the European large-cap (telecom) incumbents. Deutsche Telekom, Vodafone, and now France Telecom, have all had to admit that maintaining any semblance of growth is going to come at the cost of margins," said Chris Alliot at Nomura Securities.<snip

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