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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.41+1.3%1:14 PM EST
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To: The Phoenix who wrote (27338)8/10/1999 12:50:00 PM
From: Mr.Fun  Read Replies (3) of 77400
 
Information and opinions:

1. Cisco sell off began after lunch yesterday when word of LU's acquisition of INS leaked. Now that LU and INS have confirmed the details of the deal, there is continued pressure on CSCO.

2. Cisco's earnings for this q should be a non-event, unless CSCO reports anything other than 21cents. The conference call will be the key - Will there be more concrete guidance about Y2K? How goes Sprint/Telia? Does LU's acquisition of INS effect Cisco's relationships with key customers? The answers to these questions will determine whether Cisco has a rebound, holds or continues its slide.

3. Reported revenues may also be something of a non-event, as the whole street knows that Cisco typically stops shipping prior to the end of the quarter, in this way deferring revenues. In April, customers were reporting this activity began more than a week before the end of the quarter. I have not heard when CSCO stopped shipping this q, but it will be an indication as to whether the backlog of deferred orders will be sufficient to carry CSCO through January without a hitch. Revenues above $3.4b or so would be a very bullish signal, meaning CSCO sees no need to add to its safety backlog. Rise in receivables, decline in inventories would be bearish, meaning backlog is declining.
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