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Technology Stocks : SDLI - JDSU transition

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To: pat mudge who wrote (176)	2/15/2001 4:17:59 PM
From: Kayaker	Read Replies (3) of 3294

Nortel Networks Provides New Guidance for 2001 Based on a Faster and More Severe U.S. Economic Downturn Continues to Expect Revenue Growth Greater Than Market TORONTO--(BUSINESS WIRE)--Feb. 15, 2001--Nortel Networks Corporation(a) (NYSE:NT - news; TSE:NT. - news) today announced new guidance for its financial performance for fiscal year and first quarter 2001. "While we previously noted that economic uncertainties and capital constraints were impacting our outlook, we are now seeing a faster and more severe economic downturn in the United States which we now expect will result in a slower overall market growth of approximately 10 percent in 2001. We are seeing longer than expected delays in spending by our U.S. customers as they continue to assess the impact of the economic and market conditions on their businesses," said John Roth, president and chief executive officer, Nortel Networks. "We now expect the U.S. market slowdown to continue well into the fourth quarter of 2001. Partially offsetting the impact of the U.S. market slowdown is the continued solid growth we are seeing in Europe and in the Asia Pacific and Latin America regions."... biz.yahoo.com

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