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Strategies & Market Trends : Don't Drink the Kool-Aid Kids
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To: Stoctrash who wrote (183)3/23/2001 1:17:23 PM
From: John Pitera  Read Replies (1) of 1063
 
Cowen and FTU lowered the boom today

09:48 ET Cisco Systems (CSCO) 20 1/16 +5/16 (+1.6%): -- Update -- In pre-market call, SG Cowen reduced its Q3 est. for company to $0.06 from $0.11, putting Cowen well below the $0.14 mean. Feels that Q3 could come in below firm's est. if CSCO makes the strategic decision to not pursue higher-risk, vendor-financed opportunities.

09:01 ET Cisco Systems (CSCO) 19 3/4: -- Update -- First Union reduced estimates on Cisco following discussions with industry sources at this week's Optical Fiber Conference, says no one saw a pick-up in service provider spending before next year; First Union cuts Apr qtr revenue estimate to $5.7 bln from $5.9 bln and EPS to $0.09 from $0.11; also sees an increasing risk that Cisco will preannounce, which would send stock to low/mid teens.

11:23 ET Cisco Systems (CSCO) 19 5/16 -7/16 (-2.2%): -- Update -- Continue to see selling in stock in reaction to significant estimate reductions. Stock currently trading at its lows of the day. Traders/investors will be keying in on $19 support level for indication of a bounce/breakdown.

a Ray of light for NT though

12:01 ET Nortel Networks (NT) 17.83 -0.36 (-2%): -- Update -- In pre-market comments, Dain Rauscher Wessels stated that channel checks performed by firm indicated that orders for Nortel's OC-12 and 48 products began picking up a couple of weeks back, with the long-haul products (OC-192) showing improvement in the last week or so; these are the first positive data points firm has seen in the last couple of months.
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