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Technology Stocks : MONI - Marconi Nasdaq ADR

MONI 0.00346

-3.9%

Nov 7 9:30 AM EST

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To: ms.smartest.person who wrote (100)	9/5/2001 4:55:56 AM
From: ms.smartest.person	of 129

Merrill cuts Marconi, Ericsson: Analysts sour on Ericsson, Alcatel Merrill Lynch is downgrading its long-term ratings on European telecoms equipment makers Alcatel (ala) (FR:013000) and Marconi (moni) (uk:moni) to neutral from accumulate, telling clients they remain "extremely cautious on fixed line fundamentals" as carriers cut spending on infrastructure into 2002. Analyst Adnaan Ahmad adds that "Marconi deserves to trade at a 10 percent discount to Alcatel given what is, in our opinion, an inferior product and geographic positioning in access and broadband switching." Merrill also lowered its rating on Swedish mobile phone maker Ericsson (ericy) (SE:000010865) to an accumulate from buy following the company's dim outlook on Tuesday. Marconi issued its second profit warning in two months on Tuesday. ftmarketwatch.com

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