SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Nortel Networks (NT)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: RetiredNow who wrote (6946)9/25/2000 1:18:54 PM
From: Joel  Read Replies (1) of 14638
 
Monday September 25, 9:47 am Eastern Time
RESEARCH ALERT-Nortel shrs overreact to Euro - Merrill
NEW YORK, Sept 25 (Reuters) - Merrill Lynch analyst Tom Astle on Monday said the decline in Nortel Networks Corp. (NYSE:NT - news) (Toronto:NT.TO - news) shares is an overreaction to concerns over the weak euro.

-- Astle said in a research note that he believes Nortel's stock, which has dipped more than 20 percent since the beginning of September, has overreacted to several issues, including concerns about slowing carrier capital expenditures.

-- shares of Nortel closed at $66-7/8 on the New York Stock Exchange on Friday.

-- said Nortel's ``exposure to the euro is minimal as most of its business is U.S.-dollar based.''

-- said the revenue weakness cited by Intel Corp. (NasdaqNM:INTC - news) is Intel and PC specific and does not apply to Nortel's business in Europe.

-- as for slowing carrier spending, said he has previously expressed his belief that carriers' capital expenditure budgets are ``not a reliable indicator and that the optical business in particular is unlikely to be impacted by this issue.''

-- said he has seen some good indications from Nortel that its quarter and year remain solidly on track and he continues to look for revenues of $7.5 billion and earnings of 16 cents a share for the quarter, and revenues of $30.6 billion and earnings per share of 72 cents for the year.

Go NT sale is still on.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News