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Technology Stocks : Lucent Technologies (LU)
LU 2.650-2.9%Nov 14 9:30 AM EST
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To: Techplayer who wrote (15412)7/20/2000 8:49:04 AM
From: Mr.Fun  Read Replies (1) of 21876
 
TP,

Yes, this is painful. The quarter was pretty good, but the guidance is tough. An interesting point from the press release was the substantial reduction of a major foreign project. This has to be the Saudi wireless project - expected to generate $1.7B this year. This has been a problem account for years, and perhaps the new CFO decided not to agree to the financing terms. If a big piece of this business is gone (probably to Ericsson), it would explain alot of the reduction in guidance for the rest of the calendar year.
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