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Technology Stocks : Lucent Technologies (LU)

LU 2.835

0.0%

10:07 AM EST

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To: Anonymous who wrote (8063)	6/22/1999 6:35:00 PM
From: Anonymous	Read Replies (3) of 21876

While I sit here listening to Dave Brubeck and Paul Desmond do their stuff to "Take Five," I have to report that yesterday my August issue of WORTH magazine arrived and on page 60 Steven Romick, manager of UAM FPA Crescent didn't have anything good to say about buying LUCENT. He said: "LUCENT TECHNOLOGIES (NYSE:LU, $60) should have a fair value of $32. It's simply impossible to justify a stock price of 47 times 1999 earnings for a company with three-year annual revenue growth of just 12 percent. An increase in accounts receivable also suggests the telecom-equipment maker is providing easier payment terms to customers at the same time it is reducing its allowance for unpaid accounts." Yesterday when my WORTH arrived the stock finished up 2 7/16 @ 65 3/8 and after the money boys arrived home and poured themselves a nice cocktail and sat down and read what I read, they couldn't wait to get back to the office this morning where they promptly sold off whatever they bought yesterday....duh!

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