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Technology Stocks : JDS Uniphase (JDSU)
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To: t2 who wrote (17924)2/6/2001 9:00:50 PM
From: SJS  Read Replies (2) of 24042
 
What? Did you hear the same call I did?
_______________________

From Briefing.com:

Cisco's (CSCO) numbers are in and they stink... CSCO earned $0.18 for the quarter versus consensus estimate of $0.19 and year-ago gain of $0.12... Sales rose 55% year-over-year to $6.75 bln (below consensus estimate of $7.2 bln) ... Briefing.com less concerned with fact that company missed the consensus earnings estimate for the first time in 14 quarters, than we were with the large jump in inventories and receivables... Inventories and receivables grew by 22% and 25% sequentially, while revenues were up only 4% from the previous quarter... Consequently, comes as no surprise that gross margins fell by an alarming 170 basis points quarter to quarter... And based on what the company said on the call, gross margins are coming down further... Company puts gross margin guidance at around 60% or 3% below most estimates... Even that could be a stretch considering the rapid growth of inventories and the economic/industry slowdown... CSCO also put sales growth for the next two quarters well below street estimates... Combination suggests that street will be busy lowering estimates and ratings this morning... Given CSCO's still lofty premiums, there's considerable downside risk in the stock over the near- to intermediate-term.
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