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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 659.00

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Nov 21 4:00 PM EST

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To: Johnny Canuck who wrote (37545)	7/10/2002 11:36:07 AM
From: Johnny Canuck	Read Replies (1) of 68220

ADC Telecom warns of Q3 shortfall (ADCT) By Tomi Kilgore ADC Telecommunications (ADCT) said fiscal third quarter earnings and revenue would fall short of forecasts due to reductions in capital spending in the telecommunications industry. The broadband services provider added that it would attempt to lower its breakeven point to $250 million in quarterly sales from $300 million by consolidating facilities, reducing its workforce, increasing outsourcing, divesting low revenue product lines and cutting operating expenses. For the quarter ending July, ADC now expects to lose 5 to 7 cents a share and record revenue of $235 million to $245 million. Analysts surveyed by Thomson Financial/First Call had been expecting a loss of 5 cents a share on sales of $282.9 million, on average. The stock closed Tuesday down 4 cents at $2.22. [Harry: Suggest weakness in cable and last mile equipment demand.]

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