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Technology Stocks : VTEL: Anyone else follow this?
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To: TulipMania who wrote (936)4/13/1998 8:39:00 PM
From: Yeadon   of 1214
 
Reason analysts lowered estimates is because they were guided lower by VTEL. CLI merger simply has not worked out as well as promised. VTEL's forward looking statements about when merger benefits will kick in are no longer taken seriously on the Street. They promised that by second half of this FY, merger benefits would be clear. Unfortunately, they are clear that they have not been worthwhile. Merger will continue to drag down the company. New marketing initiatives have produced limited results. I am sure 1999FY estimates will be dropping soon.
Yeadon
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