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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 229.12

-0.2%

Nov 26 3:59 PM EST

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To: Paul Merriwether who wrote (132830)	10/11/2001 2:50:48 PM
From: H James Morris	Read Replies (2) of 164684

But the screamer in the sector was Redback Networks (RBAK: news, chart, profile), as its stock rose 36 percent. The company's fourth-quarter revenue is expected to be slightly higher than the third quarter. After job cuts and other cost-related measures, the company now needs sales of about $75 million a quarter to break even, vs. $90 million before the cuts. Redback Networks posted a net loss Wednesday of $3.1 billion on revenue of $37 million after the optical network-equipment supplier for metro markets wrote off $2.7 billion of debt related to costly acquisitions and the reduced value of assets. The company's pro forma results still beat expectations, however.

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