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Technology Stocks : Lucent Technologies (LU)
LU 2.680+0.2%12:12 PM EST
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To: Mighty Mizzou who wrote (14096)3/22/2000 4:34:00 PM
From: Mr.Fun  Read Replies (2) of 21876
 
MM,

Have you morphed into some strange combination of Finder and Doltan? A couple of observations:

1. Tolly is slamming the LU spin-off NewCo, not LU. The spin off will have very little value to LU shareholders, the key is forward going LU which is not addressed by Tolly.

2. Every quarter for two years there has been a LU pre-release rumor. Once it was true, seven times it was patently false. This time, because it comes after a miss, the street is giving it alot more creedence than it deserves. Everyone is nervous.

3. One large hedge fund sold a big position it had established in the low 50s to lock in the gain. This snowballed the negative momentum on institutional trading desks.

4. This rumor came from a trading desk not from an analyst. it is either a wild ass guess based on technical analysis or a deliberate plant by a short.

5. LU is a big enough organization that the only people with enough vision to know whether or not they made the quarter are the controllers office, the CFO and the CEO. They aren't talking, and would not leak negative news given how seriously they took the shareholder lawsuits from last quarter.

6. Enough of LU's business passes acceptance in the last two weeks of the quarter, that I doubt LU would be certain enough of results to actually pre-announce until April 3. The timing of this rumor is all wrong.
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