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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 71.08+0.1%Nov 7 9:30 AM EST
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To: RetiredNow who wrote (61427)9/25/2002 8:03:07 AM
From: JakeStraw  Read Replies (1) of 77397
 
Cisco Systems estimates cut at Wachovia (CSCO): Wachovia says checks indicate a year-end budget flush is unlikely in either the enterprise or service provider mkts, which would have made slight sequential growth in the Oct and Jan qtrs achievable; moreover, service provider budgets wont be set until March, meaning that Jan and Feb will likely be very weak spending months; firm's interpretation of co's declining backlog is that visibility has deteriorated some, and thinks the co is likely to guide down sequentially for the Jan qtr; cuts FY03 rev/EPS ests to $18.8 bln/$0.50 from $19.9 bln/$0.52. (below consensus). finance.yahoo.com
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