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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who started this subject	3/9/2001 3:43:42 PM
From: Softechie	Read Replies (1) of 2155

15:42 ET Cisco Systems (CSCO) 20 7/16 -2 3/8 (-10.4%): -- Update -- In addition to widening the range of estimates, which can be interpreted as implicitly guiding numbers lower, Cisco also says that its sees signs of a slowdown expanding to other parts of the world and now believes that the slowdown in capital spending could extend beyond two quarters. Both of these observations mirror comments from Intel (INTC) yesterday and point to more severe and enduring weakness than the market had previously expected. 15:38 ET Cisco Systems (CSCO) 20 3/8 -2 7/16 (-10.7%): -- Update -- Says while only five weeks into Q3, and it is premature to quantify the impact of this current business climate, company does expect a wider range of estimates for the remainder of the fiscal yr. 15:35 ET Cisco Systems (CSCO) 20 21/32 -2 5/32 (-9.5%): -- Update -- Company confirms reduction in workforce; plans to lay off 3000-5000 regular employees through voluntary and involuntary attrition; 2,500 to 3,000 temp and contract workers will be let go... Company to take one-tme charge of $300-$400 mln by Q4 as a result of the reductions.

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