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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 77.87-0.3%11:57 AM EST
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To: bambs who wrote (44787)12/18/2000 2:31:22 PM
From: GVTucker  Read Replies (3) of 77400
 
The main reason that the market is taking the reserve news so hard is that CSCO didn't prepare anybody for it. They just released it in the 10-Q and expected the market to pass over it. That is something that a Mickey Mouse small cap would do, and is certainly out of character for CSCO. It makes a lot of people wonder what else they're hiding.

CSCO has been saying all along that their exposure in high risk loans to customers is very low. The $275mm reserve raises the question of exactly what CSCO thinks the definition of "low" is.
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